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What Can Decrease Your Car’s Value
The older a car the more wear and tear you may find. Usually, small stains or scratches on the paint will leave you a few dollars lower than if your car was in excellent condition. However, anything more than common wear and tear and youll be looking at a lower price point.
Unknown service history
The valuation given will assume that your car has been well taken care of. If you havent had your car serviced or cant prove you have done this then the value of your car could be lower then estimated.
Known issues or repairs required
Cambelt needs replacing or a window wont roll down? Issues like these could bring down the value of your car. Always be upfront about problems like these when selling.
Many previous owners
If your car has been through a lot of hands, this could impact the value of your car. Most buyers want to know about past owners and have a good understanding of how they treated the vehicle.
Why Does My Trade Value Differ Between Dealers
The cash value of your car and the offers you receive for the vehicle may vary depending on which dealership you visit.
The difference occurs because auto manufacturers may offer different incentives that can be added to your trade-in value, making it appear that they are offering you more than it is worth.
We always recommend researching your vehicles value online before comparing trade-in offers. In addition to our search bar above, there are also websites such as consumer reports and Edmunds that provide unbiased calculations of your cars value.
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Maximize The Value Of Your Trade
Your car trade-in value is primarily based on the age, mileage, condition, history, and popularity of your vehicle. However, some simple improvements to your vehicle can work favorably when its time to get the best offer for your trade.
- Ensure that the exterior and interior of your vehicle are clean and tidy before taking to the dealer
- Complete small maintenance tasks to ensure that the check engine light isnt on, and to demonstrate that the vehicle has been well-maintained
- You may want to replace missing hubcaps or balding tires to increase your value.
The Used Car Appraisers Role
After the salesperson collects the information from you and your car, they will take the information and/or the vehicle to the appraiser.
Normally, it will be the used car manager that appraises all of the trades, hell go through a mental checklist, thoroughly inspecting the vehicle. His overall goal is to determine how much reconditioning costs will be and to find discrepancies to help lower the value of your trade.
More trade-in tips?
Do not tell the dealer you have a car you would like to trade until youve agreed on the purchase price of the vehicle you want to buy. Most dealers automatically assume youre trading a car. So stick to your guns, stay in control, and dont bring your trade into the conversation until youre ready.
Always look at the car buying process and the trade-in process as two separate transactions. This will make it harder for a dealer to attempt to rip you off on your trade.
Once youve told the dealer you have a trade. They will begin to ask you questions, trying to gather as much information as possible.
- The salesperson will gather basic information from your vehicle such as make, model, years, mileage, etc.
Some salespeople may ask you to come out to your trade with them.; Do not offer up information unless youre asked.; Any information you provide about the history of the car may be used against you.
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Negotiating An Insurance Claim
Auto insurance companies are for-profit businesses like any other and want to pay out the lowest amount possible to settle a claim. Should you decide to negotiate with your insurance company about your claim, you should be prepared to prove that your proposed estimate is more accurate than theirs.
Researching the value of your car using KBB, Edmunds, NADA or even a third-party appraiser or claims adjuster can help determine your cars value and give you a sense of what is a fair payment to settle a claim.
If your claims adjuster and insurance company are unwilling to revise their estimate based on your argument and evidence, you can ask for justification of their estimate. The goal of the negotiation is to reach a satisfactory settlement for all parties.
Things That May Affect The Value Of Your Car
Together with our partners Cartell, we use data from thousands of Carzone’s live and historic stock to calculate the estimated market value of a car. Carzone car valuations are recommended for guidance purposes only. We use details such as the year and mileage to work out the approximate market value, however there are many other factors that may impact the cars value including the following.
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Using A Valuation Tool
An online valuation tool can help you more easily determine what to ask for your used car. For example, autoTRADER.ca lets you check Whats my Car Worth? you can look up the estimated value of a trade-in or private sale using the same parameters as above: year, make, model, trim, mileage, area, and condition.
Coming Clean On Condition Levels
Our tool will ask you to pick from five condition levels: outstanding, clean, average, rough and damaged. Most people will choose one of three: clean, average or rough.
You might be tempted to choose “outstanding” to get more money for your used auto. After all, you’ve pampered your car the entire time you’ve owned it, right? But the truth is that few cars qualify for this rating.
“Outstanding” is reserved for older, low-mileage vehicles in cases where well-preserved examples are hard to find, says Richard Arca, senior manager of pricing for Edmunds.
Edmunds True Market Value used car prices are all set at “clean” condition, Arca says. The price of a car in a less-than-clean state is adjusted downward from there, and it reflects what it would cost to bring the vehicle up to a clean state.
If your vehicle was in an accident, it could still be considered “clean” if it was repaired with factory parts and according to the manufacturer’s specifications, Arca says.
“In reality, cars that have been in accidents tend to lose market value, but there is really no way to gauge how much,” Arca says. He adds that some of the factors that affect the value are the severity of the damage, the quality of the repair, and the demand for that particular model.
Be honest and objective about the state of your used vehicle. Try to see things from a potential buyer’s perspective.
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How Much Can I Expect From My Trade
Most trade-ins wont obtain top Blue Book Value even if theyre in perfect condition because that price leaves no room for dealer profit on resale. Besides, few used cars qualify for full market price. In avoiding the headaches that go with selling to a private party, the owner of the trade-in will receive an offer below the cars actual resale value. Typically, its minus any estimated repair costs, allowing the dealer to repair and resell the vehicle at a profit.
The trade-in value for most vehicles is negotiable. However, the buyer should know a few things before taking the trade-in vehicle to the dealer for an appraisal.
We Will Buy Your Car At Greg Hubler Buick Gmc
If youre interested in learning more about how to trade in a car, contact our office or visit us in person near Wabash and Greentown. We have everything you should know and are happy to help with anything you may need, whether its getting pre-approved online, trading in your current vehicle, or shopping for a new purchase.
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What Is The Trade
When its time for you to purchase a new or new-to-you vehicle, calculating your car trade-in value is a great way to knock some off your vehicle purchase. If youre wondering, whats the trade-in value of my car? Straub Nissan has the answers. Use our trade-in calculator to get an accurate estimate for the value of your vehicle and what you can expect to put toward your next purchase. Then, when youre ready to finalize the deal, head to our dealership near Moundsville and Steubenville.
What Does The Car Appraiser Look For
If hes good at what he does, he will walk around the entire car to get an overall view of the body and paint condition of the vehicle, also checking the tires for tread wear.
Hell then check the currency of your tags, inspection, registration, hell inspect the windshield and all the glass for any cracks, chips, or blemishes.
He will check the fluids, open all the doors, hood, and trunk. Hell look inside the vehicle for cleanliness, he will make sure every button and switch works. If your vehicle has a navigation system, DVD player, or CD, hell make sure they operate correctly.
Hell then scan the vehicle identification number with his smartphone and check its history with a company such as AutoCheck Vehicle History Reports;to make sure the vehicles title history comes back clean.
Most of these smartphone programs will also tell the appraiser about the current used car market and some average current values on the vehicle hes appraising.
As the appraiser goes through his inspection of your car hes looking for certain red flags like paint lines, wrench marks on nuts and bolts, a sputtering engine, misaligned carpet, low fluids, etc.
If he finds one of these red flags, he will look a little deeper into the area to see if he can find anything else he can use to devalue the vehicle.
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How Trading In A Car Works
When you choose to trade-in your car at a dealership, the price youve agreed on beforehand is subtracted from the price of the car you are purchasing. If you have outstanding finance payments, the dealer can take over the debt and pay off the loan, if it makes financial sense for them to do so. It is important that when you trade-in your car you get a good deal for your current vehicle and the one youre purchasing. You should also consider the structure of the finance agreement and look at how much youre paying over the entire term, not just the monthly payments.
Why Should I Get A Car Valuation
Discover a car’s value* in seconds. Our free car valuation report gives you an idea of the market value of your car. Whether you’re buying, selling or part-exchanging, it pays to do your research so you don’t get stung financially:
- When buying a car, you want to make sure you’re not paying over the odds and getting a good deal for your money.
- If you’re selling a car, knowing how much to ask for it isn’t always straightforward. Undervaluing a car could mean you losing out some of the cash value while overvaluing could make it a hard sell.
- If you’re thinking of part-exchanging, you don’t want to feel pressured into accepting an offer without knowing if it’s a good price or not.
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What’s The Difference In Value If I Trade In My Car Compared To Selling It Myself
You can typically get more by selling your car to a private party buyer than trading it in to a dealership. However, private car sales take more time and effort, while a motivated dealer will likely work to make the trade as effortless as possible. Dealers can handle all the necessary paperwork and make any loan payoff.
How Does Trading In A Car With A Lien Work
You can trade in a car that has a lien on it, but to do so you have to get the lien removed before you can legally pass ownership to the dealer. Usually, people will have a lien on the car as security for a debt they owe to someone else, like a bank, where you offer your car as collateral. To get the lien removed, you will have to pay off your debt to satisfy the lien-holder.
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Appraiser Will Assign A Value To Your Trade
After determining the value of your trade-in, he will now subtract money for any discrepancies he may have found while appraising your car.
Once the used car manager is done with the appraisal process of your trade-in he will call the new car manager or whoever is working your car deal. He will give that person the Actual Cash Value of your trade.
If You’re Buying A Car
Our car valuation tool will show you how much your desired car is worth. Once you’ve popped in the reg of the car you’ll have to choose whether you’re planning on buying or selling that car.
You’ll then be presented with four different prices: the private value, part-exchange value, forecourt value and quick sale value. These can help you decide who to buy from and work out if a seller’s price is fair.
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Can I Trade A Vehicle That I Still Owe Money On
Life changes fast, and sometimes your vehicle needs change quickly, too. Maybe your family is growing and you need more passenger room, or perhaps your job has moved and you need a more fuel efficient ride. Whatever the circumstance and whether your car is paid off or not, trading is always an option.
If you have positive equity in your vehicle , your trade-in vehicle will be paid off and the additional money will be applied to your new purchase as a down payment.
If you have negative equity in your vehicle , the amount you still owe on the old vehicle will be applied towards how much you owe on the new vehicle.
How Do You Trade In A Car
After youve received your trade-in estimate, its time for an appraisal of your vehicle! Our Toronto dealership can take of this step for you. Well examine the condition of your car and make sure its a good fit for our used car inventory. When you visit for your cars appraisal, be sure to bring your trade-in estimate!;
Once weve examined your car, you can negotiate or accept our offer and finalize the sale. We pride ourselves on offering the fairest possible offer on trade-in vehicles, aiming to make the trade-in process transparent and simple. In fact, there are a couple of major advantages to selling your car to a dealership, including:
- You can haggle at a dealership. We encourage our customers to always do their own research to make sure theyre getting the most reasonable trade-in offers.;
- Can you trade in a car you still owe on? You can with a dealership. If youre upside down on your car loan, you can consolidate whats owed on your current car with the price of your new ride.;
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What Can Increase Your Car’s Value
The better condition your car is in the more it may be worth. If your car has zero cosmetic damage and a tidy interior it will likely lean towards a higher price point.
Great service history
Usually, buyers want to buy a well-maintained car that has a complete service record and not too many previous owners. Being able to prove your service history can go a long way when it comes to price.
Everyone likes something a little extra. If your car is loaded with optional extras then assume you may get a little more for it. When selling note anything like roof racks, rear-facing camera, new sound system or other media modifications.
When it comes to appearance some colours can be worth more than others. Having a sporty red or jet black car could pull in a few extra dollars when selling.
How Does A Car’s Total Running Affect Its Worth
More the kilometres on a car, the lower its overall trade-in value. In India, the average car usually does 15-20,000km per year. In general, a car that has clocked fewer kilometres on the odometer will fetch a higher value. That said, a cars value also depends on other variable factors like its overall condition, number of owners, location, service history, desirability and others.
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Facts That Can Hurt Your Car’s Value
Trying to sell an old car to a dealer at a fair price can be tough, moreso if you are unaware of how much your car is truly worth. Consider these aspects that could hurt your car’s trade-in value before you go to make a trade, and keep them in mind when choosing your next car, too.
Color Affects Resale ValueHere’s something you won’t find on Kelley Blue Book: the color of your vehicle affects how easy it will be for the dealer to resell it. Pre-owned cars which are red, blue or silver are in higher demand than cars of different colors. A vehicle which is one of these 3 colors are more likely to be purchased, so a car dealer will be taking less of a risk that the car will not be resold, so the car is worth a little more. Certain colors can also harm the resale value: “irregular” colors like orange or purple tend to be difficult to sell, so cars of those colors will be worth less.
Some Investments Don’t Pay OffWhen purchasing a pre-owned vehicle, customers prefer function to flash. Features like heated seats or a navigation system are always great, but flashy extras like spinners or flame decals are not likely to impress a buyer and will not add any real value to the car. Tricking your car out is just fine if it’s for your own benefit, but anything that does not add functionality to the vehicle should not be viewed as an investment.