The below article we have written is designed to help make sure you maximize your current vehicle trade-in value and cut through some of what can be challenging part of the sales process. Please let us know if you have any questions or if we can be of any further assistance. Here at Baldwin Toyota we want you informed so you get the most for your vehicle. Transparency is what we do.
|| Steps to Trading and Maximizing the offer on Your Current Vehicle
So, you’re about to buy a new or used car? Selling your vehicle privately or trading it in at a dealership both have their fair share of advantages and disadvantages. Offers at a dealership may be less than you’d get from selling it yourself. Dealerships must factor in the cost to recondition the vehicle and make a profit when it resells it. The plus for you is that trading in your car can be very convenient. If you follow the below tips you can maximize what you get for your trade-in.
Step 1: Appraise Your Car's Trade-in Value
To determine if you're being offered a reasonable price on your trade-in, you first must know what your car is worth. Visit our website, locate the "Sell us your Vehicle" under the "Used" tab. Put in your Year, Make and Model then name, email and phone to get your trade value. Once calculated print out the results page and bring it with you to the dealership. One of our sales experts may contact you to see if you need any additional help with your research. It is important to accurately take stock of all the car's options and to be honest about the condition level. Note that only a small percentage of cars will actually be in "outstanding" condition. Most cars that are well maintained will be in "clean" condition. When in doubt about the condition level, it's best to be safe than sorry.
Step 2: Get your vehicle professionally appraised at no cost.
Contact Baldwin Toyota and ask for a professional appraisal. While we look at your current vehicle, you will have time to look at vehicles you may be interested in.
Step 3: Negotiate or Close the Deal
Once you have an appraisal, you have a couple of options. You can either take one of the offers you have or negotiate for a better price. If you are upside down on the car and need to fold the loan balance into your next car's financing, however, a dealership is the best place to do so. The first trade-in offer at some dealer could be on the low end, so there may be room to negotiate. Say something like this: "I intend on buying a car from you today, so if you can improve on the trade-in price, I'd love to give you my business." Another strategy is to use as a guide like Kelly Blue Book or Edmunds.com. Say something like this: "I've done some research on this car and it looks like the trade-in value is slightly higher than your offer. I realize it's an average, but can you beat this price?"
If you keep getting the same offers for your trade-in and none of them seem to be what you had in mind, you may have to temper your expectations. This may very well be the market value of the car, no matter what you think it should be worth. At this point, you can either bite the bullet and take what you're being offered or try to sell the car yourself. Some people may even choose to keep the car as a daily driver, rather than pile the miles on the new car.
Common Trade-in Mistakes
We've just gone over the steps on handling the trade-in like a pro, but the truth is, there are some fairly common mistakes that people make when they're trading in a car. Here are some and how to avoid them.
Bringing a freshly cleaned car:
There's no better way to spot a person who will be buying a car that day than to look for someone who arrives with a sparkling-clean car. You might be thinking, "Don't you want the car to be clean so it can make a good impression?" The truth is, a little bit of dirt won't change the value of the car. That's not to say that you should bring in a car with a bunch of fast food bags and soda cans strewn about, but don't feel the need to have the car professionally detailed beforehand. This way, you can play your cards close to the vest about whether you really intend to buy that day.
Repairing the car:
People sometimes try to fix dents on their cars or throw on a new set of tires, thinking it will substantially add to the value of their trade-in. This seldom works. The dealer can usually fix flaws and put on new tires for substantially less than you can.
Overestimating the value:
People tend to get sentimentally attached to their cars and often think they're worth more than they actually are. They look for the car's highest value on an appraisal site and treat it as though it were set in stone. The truth is that appraisals are averages, meaning some people are offered less and others more. Rather than fighting over the car's value, your efforts might be better spent on negotiating the price of your new car.
Some shoppers fib about a trade-in offer they've received in the hopes that the dealer might try to beat the imaginary offer. This rarely works. An experienced appraiser will either see right through the inflated offer or call the bluff by asking to see the estimate in writing. If your offer is for real, display it proudly.
Meanwhile here is some helpful links.
Apply for a loan
What is my car worth?
Toyota Certified Used vehicles
Hours and Directions
Hope this help and we look forward to helping you in any way we can.
Baldwin Toyota, 801 S Westwood Blvd, Poplar Bluff, MO 63901