Rather than accepting the first offer that comes your way for your used car, it makes more sense to find out more about your options to get the most out of your trade-in. Only by thoroughly researching the available deals can you avoid common mistakes, like not identifying the actual value of your car.
Here is what you need to know about succeeding with your trade-in
Do your homework
Start by doing your homework. It is surprising how so many people fail to get the most out of their trade-in simply because they were unsure about the exact price of their model. When sifting through the web, put yourself in the shoes of a buyer and check the actual cost of your trade-in vehicle.
There's plenty of information available online, and you can visit websites like Kelley Blue Book or Edmunds.com to know the value of your car. Armed with a ballpark figure, you can then assess the condition of your model and later arrive at a real deal.
Assess fair trade-in price
Your car dealer in Cranbury, Princeton, or West Windsor can choose to accept or deny your trade-in. Their main concern is quick; they can sell your possession. On average, a dealer will be looking to make about a 2 to 4 percent profit on the transaction.
To arrive at an acceptable price, you should take the value of your car (which you determined earlier) and add the 2 or 4 percent to it. The resulting amount is the fair trade-in price you can get.
Financing negotiations should be kept apart from trade talks.
When buying a new or slightly-used vehicle, you need to factor in certain variables. The finance rates, vehicle price tag, and the amount you have to pay initially (down-payment) makes a huge difference. You must ensure that your trade-in price is not affected by the factors mentioned above. Also, be sure to isolate any discussions about financing from the trade.
Schedule Your Ford Test Drive Today in Durham!
Our Sales Associates at University Ford of Durham will answer any questions you may have about Ford you are interested in. University Ford Durham has a huge selection of New, Used, and Certified Pre-Owned vehicles. Our dealership is proud of our selection and we truly believe that we can find the perfect car for you. Our Sales Associates are ready to help you with your car search.
We hope to see you soon! We sincerely appreciate the opportunity to earn your business.