How Much is Your Car Worth?
Find out what your vehicle’s trade-in value is before visiting a car dealership. In as little as a minute, Edmunds’ free appraisal tool can give you an accurate estimate for your car. They do not require any personal information from you, and you will not be solicited by third parties.
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You’ve decided to trade your car in. Although you realize selling your car yourself will net you the best deal. You don’t have the time, energy, or patience. The one-stop shopping convenience of buying a new car and trading in the old one at the dealership appeals to you.
The trouble with trading your car in at a dealership is they have experience on their side. Extracting the best deal takes research, savvy, and a bold approach.
Click on the picture to find out what your vehicle is worth before ever stepping foot into a dealership.
Once you know your trade-in value, check out my step-by-step guide on how to trade in a car to guarantee you get the most money for your trade.
You will be asked to describe your car via the tool. Let’s take a look at why investing in the proper choices is worthwhile.
Options and trim levels are important when it comes to value
The engine type, transmission, and drive system of an automobile can all have a significant influence on its overall value. A sunroom, GPS, leather seats, and automated temperature control are all available as options. It’s wonderful if you can recall your car’s choices off the top of your head. If not, here are some resources to help you locate the information you want.
The easiest location to look for added options is on the vehicle’s original window sticker (which includes the mpg, packages and total MSRP). Unfortunately, only a small percentage of people keep the sticker. If you don’t have it, your best chance is to sit in your car and compile a list of the alternatives available to you.
You may complete the options check section while sitting in the driver’s seat if you’re using a smartphone, tablet, or laptop. It’s critical to choose the correct options and trim level. You are looking to find out the true value of your car. The last thing you want is any surprises by undervaluing or overvaluing your automobile.
One important trade-in tip is to make sure your vehicle is presentable by cleaning it up as much as possible before taking it to the dealership. There are many simple and inexpensive things you can do to increase the value of your trade-in before taking it to the dealership to guarantee you get the most money for your car.
You will also need to understand that someone will physically inspect your trade-in when you get to the dealership. Dealers are not too keen on doing “sight-unseen” appraisals. This is not common practice and not how a dealership’s appraisal process works.
Is it possible to trade in my car if It’s not paid off?
The short answer is, “Yes.” However, you will want to be sure the trade-in value is sufficient to pay off the auto loan. Otherwise, the debt will be carried over to your next auto loan, and you will owe more than the vehicle is worth. In the car business, this is called, being “upside-down” in your vehicle.
How is the trade-in tool value calculated?
There are many factors taken into consideration when calculating a used car’s value:
Terms to know when selling or buying a car
What is average car condition?
The automobile has typical wear and tear and requires minimal reconditioning before it can be resold. It may have minor dents, dings, or scratches and may require some maintenance, but it does not need substantial mechanical or aesthetic repairs. There are no concerns with the title, history, or odometer.
What is considered poor condition for a vehicle?
The term “poor condition” refers to a car that has significant technical and/or aesthetic flaws and is in poor running condition. “Poor” refers to a car with a branded title (salvage, flood, etc.) or unsupported mileage. To establish the worth of a car in bad condition, an independent evaluation may be required.
My name is Carlton Wolf and I have been in the retail and wholesale car business for well over 20 years. I created the Auto Cheat Sheet to better educate buyers on the deceptive sales practices found in many dealerships across the country. Please understand, not all car dealers are dishonest. However, you never know who you will be dealing with. I’m willing to share my knowledge and experience with anyone willing to listen. Keep in mind… I’m a car guy, not a writer.
