Maximize Your Vehicle Trade-In Value
- November 15, 2020
- Calgary Used Car Dealer, Calgary Used Car Dealership, Car Dealership, Cars, More Categories...
- Posted by Fatima Ghaddar
- Comments Off on Maximize Your Vehicle Trade-In Value
When it’s time to upgrade your car, selling or trading in your current vehicle is probably the first thing to do after you have decided which car to purchase. Having an extra vehicle might be nice… but it’s probably time to part ways with your old car to soften the financial blow.
Typically, you’ll want to use the sale proceeds of your old car to help fund a new purchase. The size of the money chunk that you chip off the new car’s price-tag depends mostly on your current car’s condition and its valuation in the market.
A great alternative to private sales is to visit the nearest car dealer in Calgary and do a trade-in. This is usually the easiest and quickest method of getting rid of your old car.
Why Trade-In at the Car Dealer?
A used car dealer in Calgary that provides trade-in options allows you to give them your used car and use the valuation towards the purchase of another car. It’s a short-cut route to upgrading your car; however, the price you’d get for your car in a dealership trade-in might not be as high as a private sale. Although you’re getting more money for your old car if you handle its complete sale yourself, there are plenty of reasons why the trade-in option is your best bet.
Save Time, Money and Effort
Selling a car is quite a hassle. There’s no guarantee it will sell, and it might be months before you get a good offer. Advertising also takes time, with some marketing services and websites billing hefty promotion charges. Going to a used car dealer in Calgary to make a trade-in is usually a same-day transaction. You submit the details, they do an inspection, you receive a vehicle appraisal, and the paperwork is completed without much hassle. The used car dealer takes care of most of the formalities involved in trading or selling your car.
Sales tax doesn’t apply on trade-ins at dealerships since the cost is being reduced for the purchase that follows the sale. Although you can get more money for the used car by selling it yourself, you can potentially save yourself hundreds of dollars in sales tax by opting for the trade-in option.
Financed Vehicles are Accepted
Many dealerships will also accept cars that are still under financing, clearing the balance and simply rolling it into the next purchase. You won’t offset the full valuation of the used car from the new car’s price, but it lets you relieve yourself of debt and cut the cost of the new car hassle-free. The car dealer will then work with you to find a monthly payment plan that fits your budget.
The ‘Zero-Liability’ Advantage
Once the used car is handed over to the dealership, it’s their job to handle its sale, unlike when you’re selling the vehicle yourself. Buyers may demand maintenance repairs after buying the vehicle directly from you; it’s a ‘sign and forget about it’ situation at a used car dealer.
How to Get the Best Trade-In Value
The vehicle appraisal you receive from the dealership depends on a multitude of factors, including the obvious: make, model, mileage and year. Options will also play a role in the valuation as will the overall condition of the car. Some cars will hold their value better than others. For example, a Toyota Corolla is a highly sought after car in the used market and will generally see minimal depreciation; something you may want to bring into consideration for your next vehicle purchase.
The used car dealer will assess all the factors carefully before submitting their offer. These can differ from dealership to dealership.
Here are a few tips and tricks to ensure you get the best possible valuation from the dealership when you’re opting for a used vehicle trade-in Calgary:
1. Tidy it Up… But Not Too Much
The aesthetic plays a big role in car assessments since it reflects the car’s condition and maintenance. Make sure to get a good wash and hot wax treatment before you go to the dealership. However, an old car may raise some suspicion if it comes in pristine condition, so don’t try too hard!
2. Come Prepared
The work done on your car in the past, be it new tires or an oil change, should all be properly documented from the day you bought it. Evidence of maintenance work and investments into the car can help boost the valuation offered by the dealerships.
Gather market intel about the valuation of your car. Seek appraisals from multiple dealerships before deciding on the one offering the best value. Prime Autos is a reputed used car dealer in Calgary that accepts trade-ins and usually offers the best value since we can sell used cars much more efficiently.
4. The Dealer You Know
The dealerships you go to for regular servicing and repair work on the car are a lot more familiar with your car than a random dealership. Therefore, they might give you a better deal for the trade-in, especially if you are purchasing your next car from them.