Trading In Your Car? Here’s How to Get the Best Value

When it comes time to get a new Toyota, a quick and easy way to save on the overall cost of the vehicle is to trade in your current vehicle. Where many shoppers take a wrong turn is showing up at the dealership to trade in their vehicle without following a few simple steps to maximize their savings.

If you’ve wondered how to get the best trade-in value for your vehicle, we’ve got you covered with this helpful guide.

What is a Dealership Trade-in?

Effectively, you sell your current vehicle to the dealership and then use the money from that towards the overall cost of a new Toyota. From there, the dealership will put your old vehicle on their pre-owned lot to sell to another customer. But basics do apply here: the newer your vehicle is and the better condition it’s in, the more you can get when you trade it in to a dealership.

Step 1: Research Similar Vehicles

Assuming the value of your current vehicle could set expectations too high or too low. It’s best to search your current make and model with the same year, approximate mileage, and condition on the internet to see what they sell for in your area. You can also use online tools such as a trade-in value calculator to get a KBB instant cash offer. These tools source information from across the web in an instant to save you time in the research phase.

Step 2: Make Your Vehicle Look Nice

Getting your vehicle cleaned and detailed is one of the easiest ways to get the best trade-in value. Much like if you saw a dirty or beat-up vehicle, you might think it has also been neglected under the hood. The same goes for when you take your vehicle to a dealership to trade in.

When you have your vehicle cleaned and detailed, that presents it in the best light and implies that you’ve taken care to maintain your vehicle, which brings us to our next tip.

 

Step 3: Maintain and Fix Your Vehicle

If there are any strange sounds, vibrations, or warning lights on the dashboard, it’s best to have those taken care of at a service center before you bring it in. Vehicles with issues instantly lower the possible KBB trade-in value because it will be more work for the dealership to put it into have it ready for the pre-owned lot.

Step 4: Research the Best Times to Trade-In

Did you know that the time of year affects your KBB trade-in value at dealerships? For example, sedans are popular in the first six months of the year, particularly in late spring around tax season. Many pre-owned shoppers will use their tax return payments to purchase a vehicle, and demand is typically higher at this point of the year. Check to see when your vehicle is in demand for dealerships, as this can help you get the best trade-in value.

Step 5: Visit Several Dealerships

Similar to the point above, some dealerships may have more inventory of your particular style of vehicle in their inventory, meaning that they don’t necessarily need to pay a premium for your vehicle. On the flip side, another dealership may not have enough of your particular vehicle, again, let’s say a sedan, to meet the demand of shoppers, so they may pay a bit more to buy yours.

Step 6: Negotiate Your Trade-in Value

Gather all of your research and examples of your vehicle and bring them with you to the dealership when you’re ready to purchase a new vehicle. In most cases, the dealership won’t be able to offer you the full KBB trade-in value, but you can work with the sales expert to negotiate a price you’ll both be happy with. Reference your research materials to strengthen your case and work together to find common ground.

Trade In Your Vehicle in Northridge

At Northridge Toyota, we’re committed to helping customers find and drive away in the new Toyota of their dreams and get the best possible trade-in value from their current vehicle. Visit our Northridge Toyota dealership to get started and explore our full lineup of new Toyota vehicles.

Be sure to check out our new car specials to find extra ways to save on a Toyota car, truck, or SUV. Contact us today to schedule a test drive and to learn more about trading in your vehicle to benefit your budget.