Trade-ins have earned a reputation for convenience and time-saving when it comes to selling your old car and buying a new one, but they don’t always have the best rep when it comes to getting a good price. When you’re in a hurry to sell your car and get behind the wheel of a new or used vehicle, shopping around to score the most lucrative deal is not always on the top of your agenda. But there’s no-one out there who wants to lose out on getting a good price in a reasonable time frame.
How can you get the best of both worlds when it comes to selling your car and acquiring a new or used new ride? Check these items off your list before you sign on the dotted line for a vehicle trade-in:
#1 Know your car’s worth
There’s little use entering into a trade-in option with no idea of your vehicle’s value.
While there are some online tools that can give you a rough idea of your used car’s price factoring in mileage, model, features and overall condition, it’s always good to get an accurate second opinion.
By choosing a trusted online car-selling platform to give you an estimate of the vehicle’s worth, you will enter into the trade-in process with a realistic picture of the price you could otherwise expect from the sale. This will give you better bargaining power when negotiating a deal.
#2 Gather maintenance records
You may already have your eye on a shiny pre-loved vehicle, but there’s no use gawking at the ‘new’ car without having your ducks in a row.
Included in the basic 101s of selling your car is collecting records concerning its service and maintenance history. This gives a buyer (whether they’re a dealership or an individual) a good idea of how well the car has been cared for, which gives a fair indication of the potential budget for future repairs and maintenance.
Collate all the documentation and ensure that your car’s service book has all the relevant blocks checked by reputable service centers. This gives the trade-in dealer a strong sense that the car is a keeper that will be easier to sell and is worth a few extra rands.
#3 Choose the right time to trade-in
Timing is key when it comes to selling and buying a car. Having a good understanding of the positioning of your vehicle in the market gives you the best shot at a good deal.
If, for example, a new model of your old car has just hit the market, it could result in lower-than-expected prices when trading in the vehicle at a dealership. This is a sad but realistic scenario that often results in a price plummet.
Additionally, choosing to trade-in your car towards the end of the month or quarter may give you the edge as dealerships try to close in on their sales targets. (There’s a chance you’ll get a more favorable negotiation here).
#4 Prepare your car
It’s best to enter a dealership with your used car in tip-top shape. Replace those tired windscreen wipers, give the car a polish, vacuum the dog hairs off the back seat and get it looking like a sweet deal.
If you want a checklist of all the criteria to sell your car for more, read this helpful blog.
Leaving the car to sit in the backyard for a couple of weeks prior to the sale also won’t do much to help the matter. Make sure to drive the vehicle regularly to keep the engine fresh.
And then try to look at your old vehicle in a new light (as a potential buyer would) and remember that first impressions matter.
#5 Negotiate a fair price
Armed with a bit of industry knowledge and a few offers from competitors, you’re in a much better position to clinch a good deal on your trade-in.
Don’t get too caught up in your old vehicle’s backstory and memories on the road, but rather place the facts on the table and present a solid argument for why this dealership should give you a good price on both your older car and the new set of wheels you wish to acquire.
#6 Choose a trusted trade-in dealer
While there are used car dealers on almost every street corner, not all are playing a fair game. This is where you need to have your wits about you.
Ask these questions before selecting a used car dealership to arrange the trade-in:
- What is their reputation like? What are people saying about their service on platforms like Hellopeter?
- Do they give customers a transparent, honest picture concerning the history of the vehicles on sale?
- Do they go the extra mile to answer your questions, give solid advice and make the trade-in process pleasant?
- Do they offer wholesale prices to the public wanting to buy second-hand cars?
- Do they stock a range of over 500 pre-owned vehicles to browse online and in person?
