How To Know You’re Getting The Right Offer On Your Trade In

Are You Getting The Right Trade In Value?

There are many great benefits of trading in your vehicle. Whether you’re purchasing a new or used vehicle, a great way to get the best possible price on your new vehicle is to trade-in your old vehicle. Trading in your vehicle can help lower the total cost of your new vehicle significantly. Before you trade-in your vehicle, though, you’ll want to be prepared to know you’re getting the right offer. Check out our tips below for how to get the best trade-in deal or visit Mike Anderson’s Chevy Chicago to learn more about your car trade-in value!

How Trading In Works 

When you trade in a vehicle, you offer a dealership an exchange or credit applied toward the price of the new vehicle you’re buying. Your vehicle has a trade-in value that’s based on the current market value of the car. That value is the amount the dealer is willing to offer you toward your new purchase. Right now is a great time to trade-in a used vehicle! Why? Because there is a lack of new vehicles due to a shortage of chips needed to manufacture new vehicles. Instead, many customers are turning to used vehicles, and so many dealers need a good supply of used vehicles. 

What Impacts The Trade-In Value 

Several key factors are going to determine your vehicle’s trade-in value. There’s the obvious factor of the vehicle’s make and model, but other factors are going to make a bigger difference in its value. Factors like the condition of the car, the demand for that particular vehicle, and your skill at negotiating a price will make a huge difference. Because cars tend to depreciate the fastest during the first five years of ownership, the age of your vehicle and how many miles it has on it will also be important factors in determining value. 

How To Know Your Vehicle’s Trade-In Value 

The way to know you’re getting the right offer is to know the true value of your trade-in beforehand.  A great resource to estimate your vehicle’s trade-in value is the Kelley Blue Book Value price. Note that exact values are impossible to determine beforehand because it will somewhat depend on the dealer you choose. The Kelley Blue Book Value price determines the price for a particular automobile make and model from the largest automotive valuation company in the U.S. It is assigned by determining the vehicle’s market value, but the values are for undamaged vehicles that do not need repairs. You’ll need to adjust the price if your trade-in car needs maintenance. 

Maximizing Trade-In Value 

Take some small simple steps to maximize your vehicle’s trade-in value. Make your vehicle look its best by cleaning and detailing it. A vehicle that looks good will be worth more than a worn and poorly maintained car. If possible, make any minor repairs or modifications. Common small repairs include fixing windshield damage or servicing minor engine issues.  

Get The Best Deal At Mike Anderson!

Looking for a Chevy near me? At Mike Anderson Chevrolet of Chicago, we are a premier Chevy dealership with a huge selection of Chevy cars, trucks, and SUVs for you to choose from. Founded in 1969 by Bob Anderson, Mike Anderson’s Chevy Chicago is proud to continue to serve the community with a great selection of vehicles and top-notch customer service to everyone who walks through our doors. Want to trade in my car? Visit us to get the best deal on your trade-in now!