Home Car Buying 101 Car Buying 101 - Trade Value

Car Buying 101 – Trade Value

One of the most common questions asked of car dealers is “what is my trade worth?” The real answer to that question is not as much as you want, but there are two simple things that you can do to get thousands more for your trade.

Vehicle Appraisal

First, it is important to understand how a dealership arrives at a your trade value. Most dealerships will look at at least one value guide (common guides are KBB, NADA, Black Book, and MMR) when appraising your trade while some dealerships will look at several sources by using specialized appraisal software or apps. Dealerships also look at market demand because just like every other retail business inventory turnover, how quickly inventory is sold, is an important factor in the success of the business. That means that if your trade is in high demand the dealership may pay much more for it.

Regardless of what your particular dealership uses remember one important fact: Used vehicle values are subjective, that means regardless of what the value guide says a vehicle is worth, the real value comes from the person appraising your vehicle.

Because the value you receive for your trade is determined by the appraiser there are things you can do to get thousands more for your vehicle trade:

1. Regular maintenance. Even something as simple as regular oil changes will often get you thousands more for your trade. Remember that maintenance and service visits to most dealerships are now reported to vehicle history sites such as Carfax and Autocheck which will be seen by your appraiser.

2. Clean your vehicle regularly. When you keep your vehicle clean it shows during the appraisal because the paint is in better condition, the interior fabric or leather is in better condition, and the overall appearance of the vehicle is more pleasing. There is a huge difference between the value of a clean and dirty car.

The good news is that Melloy Los Lunas dealerships have agreed to offer every customer above fair market value for trade in vehicles, which means one less thing you have to worry about when purchasing your vehicle through the Melloy Auto Group Los Lunas.

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