5 Essential Things to Know About Car Trade-Ins

Whether it’s time for an upgrade or your old ride just doesn’t meet your family’s needs, you may be considering trading in your car for a new one. Before you jump right in and hand over the keys, there are few essential things you need to know about car trade-ins so you make the best decision.

Loans Matter

If you are still making payments on the car you want to trade in, you need to know you’ll still be responsible for them even after the trade. In most cases, the dealer will pay off the remaining balance and roll it into the cost of your new vehicle, but always make sure you know whether this is the case before you sign paperwork.

Trade-In Value

You should always consult Kelley Blue Book or NADA to get an estimate of what your car is actually worth before you head to the car lot. This will help you know if the dealer is trying to give you a fair price, or simply putting more money into their pockets. The dealer’s goal is to pay the lowest price possible so that when it sells it will be for increased profits, so knowledge is power in these situations.

Before You Go

Make sure you prepare your car before you take it in for a potential trade. Make sure it is clean inside and out, and that you try to get rid of any noticeable odors. Cars in better condition will generally net a higher trade-in value, and a clean one always looks better than one with trash in the floorboards.

Shop Around

You should never accept the first offer you’re given for your car trade-in. Go to three or four lots and see which one is willing to offer the most before you agree to a deal. However, if one is significantly higher than another, make sure you pay attention to how the vehicles on the lot are priced – they may be inflated well beyond what they are worth, which is why the dealer offers so much for trade-ins.

Selling Might Be More Profitable

You should also keep in mind that selling your old car may result in higher profits. Just remember that you’ll have to take the time to create an ad, meet with potential buyers and handle the paperwork. If you can’t find a dealer in your area willing to give you anything close to what your trade-in is worth, selling on your own might be the better option.

If you’re trading your car in for a new one, make sure to consult YourMechanic about a pre-purchase inspection before you buy to ensure there are no hidden issues.


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Jermaine

25 years of experience
382 reviews
Jermaine
25 years of experience
Dodge Durango V6-3.6L - Pre-purchase Car Inspection - Silver Spring, Maryland
Awesome mechanic! Very reliable !! Awesome personality! Explained everything and now I feel less stressed.
Hyundai Ioniq - Pre-purchase Car Inspection - Chevy Chase, Maryland
Jermaine was very friendly, efficient and professional. He kindly explained to me those things that did not score well in the service report, so that it didn't come as a surprise, and I would know what to do about it.

Caz

18 years of experience
146 reviews
Caz
18 years of experience
Mercedes-Benz GLA250 L4-2.0L Turbo - Pre-purchase Car Inspection - Woodstock, Georgia
Caz was extremely knowledgeable, personable and provided excellent service. He was on time for the appointment and answered and explained everything I asked concerning my vehicle. I will definitely use the company again and I would love to have Caz as my mechanic! Excellent!
Mercedes-Benz S550 - Pre-purchase Car Inspection - Mableton, Georgia
Caz Arrived on time much earlier than scheduled. He was very professional in inspecting the car and made excellent recommendations.

Brian

19 years of experience
138 reviews
Brian
19 years of experience
Lexus RX350 V6-3.5L - Pre-purchase Car Inspection - McDonough, Georgia
Brian was very informational and knowledgeable about the Inspection. He throughly inform me what issues on vehicle. Great Mechanic !!!
Ford Transit-350 HD - Pre-purchase Car Inspection - McDonough, Georgia
Great service. Honest , respectful and truly cares about making sure you get the best options possible at an affordable price. Finding a mechanic you can trust is rare. I highly recommend Brain.

Jay

24 years of experience
262 reviews
Jay
24 years of experience
Honda CR-V L4-2.4L - Pre-purchase Car Inspection - Glendale Heights, Illinois
Jay did a great job! Excellent at taking time to explain things about your car. And provided sound recommendation on repair. Courteous and responsive. I would definitely recommend Jay!
BMW 535i xDrive - Pre-purchase Car Inspection - Des Plaines, Illinois
Excellent ! Jay is very detail oriented and forward thinking. I would highly recommend him to anyone.

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