Maximise Trade-In Value With a Few Simple Tips
Your car is your investment. At a certain point, the investment starts to lose its lustre. If you can see that early, you can trade-in your car for the best rate and start over again with something new. How can you tell when your trade-in value is at its maximum? Here are some simple tips.
Curb Appeal Intact
If you have had no accidents or scratch repairs, your exterior is probably in good shape. This will be one of the first things that a dealer looks at when considering what to pay you for your car. Curb appeal always helps sell a car. Of course, this is just one part of the equation to maximize your car trade in value.
This evaluation may seem straightforward. Many people maintain their interiors. However, if you are a parent, you should watch to see when your interior is about to decline. It can happen fast with kids and their sticky hands and dirty feet. Thus, when you see that your car is reaching the point where keeping it clean is getting difficult. It may be time to sell it. Otherwise, it will become dingy and dealers will mark down their offers.
We all hear the term low mileage. But what does it mean? A low mileage car is one that has run only 10,000 miles or about 16,000 kilometres a year. That’s the ideal rate. So let’s say you have a three-year-old car that has run 35,000 miles. If you keep it another year and minimize the miles you put on it, then the trade in value may balance out. It’s easier to argue for a good trade in value when your four-year-old car has 40,000 miles than when your three-year-old has 35,000 miles.
No one can change the model year of their car. However, dealers are likely to look at the car’s manufacturing date. This can make a car a year older. When you consider this factor in selling your trade, you acknowledge that your car is technically a year older than its model year. So, a four-year-old car may be treated like a five-year-old car, depending on when it was made and when it was bought. You can find out when your car was made and calculate its age. This could help you time a sale for the best return on your trade.
Maintaining your car should be a positive thing for any car owner who is ready to sell their car. On the other hand, car repairs are different, and they can be tracked these days. If you foresee big repairs in the next year, trading the car before that happens will safeguard its car history. You should get a better trade in price without big repairs on the car’s record.
A warranty has an expiration date, and many car owners start to think about trading when that time approaches. Furthermore, your tires and batteries have an expiration date. All of this should be calculated into your thinking as you decide when is the right time to trade.
There’s no magic formula for trading in cars, but there are definitely better and best times to schedule it. With any luck, you’ll get more for your investment and be able to leverage your next car with a healthy down payment amount.