Should I Trade in My Car When I Buy a New One?

Should I Trade in My Car When I Buy a New One?

Have you decided to purchase a new car? What about the old car that you have? What do you plan to do with that? Surely, you must be pondering over, “Should I trade in my car when I buy a new one or not? Well, the answer depends upon the condition of the car, and the time that you have with you.

If you wish to get the maximum possible rate for the vehicle, then you should sell it on your own. But, remember that it takes a lot of time, and will also require a lot of effort. So, most of the people prefer going for a trade-in. In a trade-in, your car might fetch a lower rate because the dealer would spend some money on reconditioning it, and making a profit on the resale. But, for the car owners, it is a very convenient option. We give below some tips, which will help you in making the maximum out of your trade-in deal:

    • Assess the trade-in value of the car: Knowing the value of the car will help in making a reasonable deal on the trade-in. There are car appraisal tools, which can help in finding the right value. Most of the cars are maintained well, and are in ‘clean’ condition.
    • Get a quote from the dealer: You can take the vehicle to the dealer for appraisal, who will do a detailed inspection of the car, and will give a written appraisal. This will be valid for about 7 days or so, and you could check with other dealers also if they are giving better offers.
    • Negotiate the deal: Once you have all the appraisals and offers with you, you can decide on them. You can choose to take any of the offer, or negotiate for a better deal. If you have all the paperwork proper, it will take you only an hour to complete the deal. And, it would be better to trade-in the car with the dealer from whom you are purchasing the car. This will give some leverage.

Well, this is the entire process of trade-in. Hope this would have helped you in giving an answer to your question, ‘Should I trade in my car when I buy a new one.’ Remember that you should not commit the common mistakes during the trade-in. Do not hide any information and don’t overestimate the value of the car.

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