How Does Trading in a Car Work?

July 24th, 2018 by

Driving needs change over time, and you’ll likely face a time where you need a different vehicle to accommodate a new job or a growing family. You might also upgrade just because you want more space, power, or technology upgrades. In all of these cases, trading in your current car for a newer model is great option.

To ensure you get the best value for your trade, it’s important to understand the process. When it’s time to trade in your car in Rice Lake, Hayward, or Cumberland, you’ll have to take three steps: 1.) Know your car’s current value, 2.) Get quotes from local dealerships, and 3.) Negotiate for the best price.

Handing Over Car Keys

Get an Idea of Your Vehicle’s Value

Before you start collecting quotes, you should try and get a baseline idea of what your car is worth based on its age, mileage, and condition. There are many tools available to help you with this research, including reputable websites such as Kelley Blue Book. You can also look through the used inventory on dealer sites to see how much models similar to yours are going for — private listings are also a good source of information. Once you’ve done your research, you’ll have an idea of what kind of price range your vehicle might fetch.

Get an Estimate

Once you’ve got an idea of your vehicle’s value around northwest Wisconsin, you can start getting estimates from dealerships. By providing some basic information about your car, dealerships can easily give you an estimate for your trade, and many have online trade-in value calculators to make the process run smoothly. Since you already have an idea of what your car is worth, you’ll have an idea of whether these estimates are fair. For that reason, it’s often a good idea to get several quotes.

Couple Buying a Car
Using a Calculator

Negotiate the Price

Estimates are not the be-all-end-all on your trade. Many dealerships may offer incentives and perks for trades, such as additional money towards a new purchase. Negotiating perks like this can be a big help in getting the most value for your trade.

Trade In Your Vehicle at Don Johnson Motors

With locations in Hayward, Rice Lake, and Cumberland, Don Johnson Motors is committed to helping drivers throughout northwest Wisconsin get the best deal for their trade-in. We have an extensive selection of new and used vehicles for you to choose from, too, so stop in today!

2018 Dodge Charger Rear
2018 Ford Escape Grill

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Posted in Car buying Tips, FAQs