How Does Trading in a Car Work?

June 1st, 2018 by

woman holding car keys
If you’re looking to upgrade your current vehicle to get more power, space, or the latest technology features, trading in your car can help you lower the price of a new purchase. But before you head to your local Cicero dealership, it’s important to understand how trading in a car works and what information you need at your disposal. Doing some initial research, getting multiple quotes, and negotiating for incentives will help ensure you get the best possible deal for your trade in.

Research Your Car’s Value

Perhaps the most important step of the trade-in process is researching how much your vehicle is worth based on its age, mileage, and condition. Luckily, it is very easy to conduct this research online, thanks to reputable resources such as Kelley Blue Book. Plugging a few key specs into trade-in calculators will help you get a good ballpark for what your car is worth, as well as browsing dealer sites for prices on comparable used models. Once you understand what you can reasonably expect for your current vehicle, it’s time to start getting some quotes from dealers.

man looking up information on a computer
couple signing contract at car dealership

Get Quotes

Research in hand, it’s time to start working directly with dealers. Receiving quotes from dealers is easy; most will give you an upfront quote on your vehicle even if you don’t want to buy from their inventory. It is recommended that you get multiple estimates for your car to ensure you’re getting the highest dollar amount possible. When you receive a quote that feels in line with your research, you can continue moving forward with the deal.

Young couple signs documents
Customer and sales manager shaking hands

Negotiate Perks

Finding a trade-in price is not the final word in the arrangement; many dealerships can offer additional incentives to sweeten the deal, including money toward a new purchase or service perks such as free car washes. It is wise to negotiate for your best possible deal, and you can use the other quotes from competing dealerships to your advantage. Once you’ve come to a satisfying arrangement, it’s time to get the new car you’ve been hoping for!

Couple checking information on a clipboard
financial expert speaking with a couple

Trade In Your Vehicle at Used Car King

Used Car King is here to help Cicero drivers find a new car with support from a trade-in deal. Once we value your trade, you can browse our exciting selection of new and used vehicles, as well as learn about the steps to take when buying used, to find the perfect vehicle for your needs. Contact us today!

 

More from Used Car King

  • How to Tell if You Need New Brakes?

    Service Center The easiest way to tell if you need new brakes is by looking for the warning signs, such as looking at the brake pads for wear or listening to your brakes for squeaking. Not only do brakes generally wear down over time, but vehicle leaks can also play a role in your brake…

  • 5 Tips to Becoming a More Fuel-Efficient Driver

    If you often fill up the tank of your new or used vehicle around Cicero, you’ve probably realized how quickly gas can add up. However, there’s no need to feel like you’re emptying your wallet each time you fill up your tank. By following these eco-friendly driving tips, you can help increase your fuel efficiency…

  • Which Car Loan is Best – Dealership or Bank?

    Apply for Financing If you’re looking for a new or used car in Cicero, you’ll probably be taking advantage of auto financing. However, you’ll want to do your research before you sign any papers so you can be sure that you’re getting the best monthly payments and interest rates. Find out whether financing through a…

Posted in Information