Auto Trade-In Values

Statistics show the average age of vehicles on U.S. roads is now nearly 12 years. If your vehicle is approaching the end of its life, you might be considering trading it into a dealership so that you can purchase a newer vehicle. By offering your vehicle as a trade-in, you can lower the total sale price of a newer vehicle. With that said, you should follow these tips to get the best trade-in price for your used vehicle.

Research Your Vehicle's Value

If you don't know the fair-market value of your vehicle, you won't be able to negotiate an appropriate trade-in price with the dealer. Whether you are selling a car, truck, SUV or any other vehicle, take a few minutes to research its fair-market vehicle. Kelly Blue Book, of course, is one of the best places to research the value of used vehicles. Just enter your vehicle and customize the options, after which it will reveal both the private party and dealer value of your used vehicle.

Wash and Wax the Exterior

You'll get a better trade-in price for your used vehicle if you wash and wax the exterior. Whether you do it yourself or take your vehicle to a car wash, you must clean the exterior. Otherwise, you can expect dealers to lowball you when trading it in. A newly cleaned exterior with a fresh coat of wax will make your used vehicle look years younger, as well as better maintained, which will compel dealers to offer you a better trade-in price.

Detail the Interior

In addition to washing and waxing the exterior, you should detail your used vehicle's interior before attempting to trade it in. When driving your vehicle on a daily basis, the interior will inevitably accumulate dirt and debris. While a dirty interior is generally a cosmetic problem, it can still lower your vehicle's trade-in price. So, take a few minutes to vacuum and detail the interior.

Perform Minor Repairs

It's usually a bad idea to perform major repairs, such as rebuilding the transmission or replacing blown head gaskets, on a vehicle that you intend to trade in. However, you can and should perform minor repairs. A loose door handle, for example, can be easily fixed by tightening the screws or fasteners. If your vehicle suffers from minor problems such as this, consider repairing it before taking your vehicle to the dealer to trade it in.