Learn More about Trading Your Old Car in to Get the Most Out of It

Before You Trade In Your Car

Amanda Hart

Trading in?

There is a whole lot more to a vehicle trade in than most people think. Most people assume there is some giant database with every car ever and all their set-in-stone trade in value listed, and they automatically should get that price every time.

Well, it just doesn't work that way. Your old car's value greatly depends on many different factors; several of which you would have never thought of. Getting a good trade in price can save you a lot of money, so it will pay off to learn as much as you can before going to buy local new cars.

Just because the dealer is making money off the trade in does not mean that it cannot benefit you as well. If there is no standard price and the estimates you see online are just opinions, then how do you find out if it is worth it to trade your car in?

Determining value

The first and most obvious factor that determines your car's value is its condition. Put yourself in a dealer's shoes; they need to sell this car, and they need to sell it fast. The overall condition, especially the paint and interior quality, plays a huge part. They will also probably test drive your car first.

After they get a general idea, they will look up the national suggested price for your car, adjust it based on the condition, then they will determine the value, but they won't always tell you what it is right away.

Other factors to consider are what brand car you're selling to what dealer. A Ford car is worth more to a local Ford dealership than a Toyota. Also, it will matter how many of the same model that dealer has on their lot.

Once the dealer has a number in mind, they typically will not budge on it, and that's pretty close to the best price you'll get. If it isn't enough, you could always just sell the car yourself.

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