There are plenty of steps you can take to get the most money for your old car when you’re trading it in for a newer model. While a deep cleaning and taking care of scratches, dings, and dents will help, they won’t net you the most money possible. Instead, you’ll need to go the extra mile.
Before you even think about looking at new cars, you first need to know what your trade-in is worth. Research what other people are selling your model of car for. Knowledge is power, and knowing how much your car is worth is the first step to getting the most for your trade-in.
Next, you’ll need to look at it from the dealer’s perspective. After all, it’s up to the dealer to accept your car as a trade-in. If your car has had cosmetic work, needs major repairs, or isn’t likely to sell quickly, the dealer may not accept it. Keep in mind you aren’t being forced to buy from that specific dealer!
Lastly, keep the trade negotiations and financing process separate. Consider getting financing from a third party, like a bank or credit union. Pay off as much on your trade-in as you can if you still owe money on it. It will only help you in the long run!