Getting Ready to Trade Your Used Car for a New Car


Getting Ready to Trade Your Used Car for a New Car

If you are planning to buy a new vehicle, trading in your old car at the time of purchase is a great way to get rid of your existing model and get the best deal on your new purchase. This highly cost-efficient method is so popular that in 2017, according to Edmunds, around 43 percent of all car purchases included trading in old cars. Below, we discuss the steps involved in trading in your used car when buying a brand-new model.

Know the value of your car
The first step is to know the trade-in value of your used car. This is basically the rough amount of money that will be cut from the price of your new vehicle, depending on the value of your used car. It is essential to know your car’s worth so that you can decide for yourself if dealerships are offering you reasonable prices. There are plenty of car value calculation tools you can use for free online.

Make sure you have all your documents ready
The next step is to gather all critical, relevant documents that you may need to trade in your car. This includes the vehicle title (also known as a pink slip), current vehicle registration, your auto loan payoff and account details, your driver’s license, as well as car keys. If you do not have these documents with you, you may not be able to trade in your used car, so make sure that you have everything you need ready on time.

Ask around at multiple dealerships To get the best quotes for your car, call up multiple dealerships and ask them an estimate of how much they can offer you for your used car. You will have to accurately describe the conditions of your vehicle to get a rough estimate over the phone. A firm quote is only provided after a physical inspection of the car.

Choose the best offer and close the deal
After contacting multiple dealerships, choose the best trade-in quote that you are offered. Before you accept, make sure you are getting a fair deal by checking online guides. Now, you are ready to close the deal and drive home a new car.

Source: Jeep