In tight economic times, trading in your existing car is one way to reduce the out-of-pocket cost for a new vehicle and potentially bring a vehicle you want into your price range. Preparing your car before you arrive at the dealership can maximize the car trade in value. Trade-ins can be a win-win for customers and dealers because the customer gets rid of a car they don’t need without the hassle of an ordinary sale, and the dealer adds to their inventory.
Having the proper documentation on hand and having the car in presentable condition demonstrates to the dealership that your car will sell quickly and not simply take up space in their inventory. Also, your effort in preparing the trade suggests that you are ready for the negotiation and are not likely to jump at the first offer.
Repair the Small Issues
Before bringing your car to a dealership, small repairs may provide a substantial return on investment by increasing your car trade in value. This raises an important question for anyone using their car as a trade-in: Is the cost of repairing the car more or less than the amount of additional money that the repair would be likely to add to the trade in value?
Extensive repairs with high price tags are less likely to realize significant gains, particularly if the value of the car as a whole is small. If a vehicle is only worth $5,000, for instance, paying an additional $1,000 to rebuild the transmission would not be profitable because it would depend on the dealer raising the car trade in value by at least $1,000. The dealer will have to resell this car eventually. Would a car buyer pay an extra $1,000 for your car?
Instead, complete minor repairs, such as fixing dents or replacing items like a cracked gear shift cover. The small damaged items could harm the value of your car because they make it look “broken” or poorly maintained. Small repairs that make the vehicle appear “like new” could change how the dealer (and future potential buyers) view the car.
Wash, Clean, and Detail the Vehicle
In the same way that fixing small repairs gives your car a “like new” look, washing, cleaning, and detailing the vehicle will help you present the car in the best possible light. Even though dealers are likely to clean the car again to their own standards before selling it themselves, the dealer might be evaluating the trade-in by imagining it on the lot. A dusty, dented car might not only seem less likely to sell well, but it might even detract from the dealer’s image. The dealer might not want customers to see that car on their lot, so they might sell the car for scrap and make a trade-in offer with that limited value in mind.
Have All the Paperwork
Before you trade in your car, be sure to have the title and records of services and repairs. A car dealer is not inclined to trust the word of a customer with a trade-in who tells them the car was looked after well. On the other hand, they will be more likely to give credence to a customer who comes in with a file organizer full of receipts and invoices detailing their diligence. The dealer will be able to check up on some aspects of the car’s history, such as whether the car has been in an accident. It is best to be honest about the car's history and not try to embellish the car’s history.
Sierra Blanca Motors | Your Local Trade-In Dealership | Ruidoso, NM
You might wonder, “will a car dealership near me offer me a fair price for my vehicle?” If you live in New Mexico, visit Sierra Blanca Motors, a car dealer in Ruidoso, NM, specializing in buying trade-ins. Since we buy so many trade-ins, we know how to move our inventory quickly at a price that reflects the car trade in value.
We can confidently offer competitive prices for trade ins. We do our homework, and we respect that you’ve done yours. Come to Sierra Blanca Motors to realize your car’s trade-in value, or contact us at 575-315-0145 to get started today.
