When considering taking a trade-in a number of
factors influence a dealers ability to resell the vehicle profitably
including the condition of the vehicle, the number of similar vehicles
available in the market, and overall market conditions. These factors
will then in turn affect the amount offered to you for the vehicle.
While
you may not feel investing in your trade-in would be a worthwhile
investment it may very well be.
Here are some tips for helping you get
most for your trade-in:
- Before you arrive at the
dealer ensure that you have thoroughly cleaned the vehicle, inside and
out. This will allow the dealer to see the vehicle objectively. When the
vehicle appearance shows signs of neglect it may suggest that
maintenance similarly neglected.
- If the vehicle has strong
odors, smoke and animals being the most common, consider a professional
detailing.
- Bring your service records, this demonstrates routine
maintenance and repairs have been addressed.
- Consider
correcting more serious body and interior damage. Unrepaired exterior
damage is a source of serious concern for the dealer because it is not
always limited to cosmetic damage and may require extensive repairs.
Also remember to disclose any previous accidents and subsequent repairs
made to the dealer.
The following factors influence vehicle
condition and accordingly the final trade-in value you will receive.
Vehicles are classified into three categories, clean, average, and below
average. In order to appraise a vehicle properly, appearance,
equipment, trim level, overall mechanical condition, and mileage are
considered. When you arrive at the dealer few key items will be reviewed
such as:
- Odometer - is your vehicle above or below the
typical range for the model year.
- Exterior Appearance - paint
condition, scratches, dents, rust, and other visible damage will need
refurbishment.
- Interior Appearance - excessive wear, tears,
burns, stains, and odours will all require correction before the vehicle
is resold.
- Mechanical Condition - undiagnosed/unrepaired
warning lights, engine/transmission noises, worn brakes are all items
that represent potentially expensive repairs that must be corrected
before delivery to the next owner.
- Tires - while tires may
appear to be in good standing, they are often in need of replacement due
to general wear, uneven wear, sidewall cracking, or damaged steel
belts.
- Previous accidents, repaired or not will
impact your values.
