You’ve got your eye on a new car. But do you know how much your current vehicle is worth? From the time you purchase a vehicle, it’s important to understand how to improve the trade-in value of a car, so when it comes time to trade in your old automobile for a new one, you’ll get the maximum amount of value possible.
Begin at the Beginning
Before you ever purchase a vehicle, do your research and find out the residual value of the different models you have your eye on.
Residual value is what a car is expected to be worth after it’s been driven for a specific number of years. So if you’re looking at a car with a projected 60-month residual value of 30 percent, while another model has a 60-month residual value of 45 percent, the second car is going to be worth a lot more when you trade it in down the road.
Looks Matter
Before you head into a dealership to offer up your trade-in, clean your car and make it look as nice as possible.
When dealers accept a trade, they take into account how much it will cost to fix up the car and how quickly it is likely to sell. The better your car looks, the better your chances the dealer will take the trade and give you a good value for it.
Take Care
Begin with the end in mind when you purchase a vehicle. Look down the road to the time when you’re going to want to trade it on something else, and drive it carefully and treat it gently. Stay current on maintenance over the course of your ownership and keep your maintenance records; keep the car clean; and drive responsibly.
Get a Good Value on Your Trade
If you’re ready to trade in your vehicle on a new car, visit the team at Chicago Northside Toyota or contact us today. We’ll help you get a good value on your trade and also assist you with financing and other steps of the car buying process.
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Pre-Owned Inventory
