Trading in your vehicle can be a huge mental pain, but if you understand a few simple factors then we can attempt to easy the pain.
- A well maintained vehicle will always be worth more.
Simple put, the more mechanically sound and the cleaner your vehicle is the more it is worth.
- A vehicle's value will vary by geographical region.
A vehicle in California can be worth a completely different amount of money then a vehicle in North Carolina.
This especially true when we are talking about SUVs and Trucks, because of the 2 wheel drive vs. 4 wheel drive options.
Every separate region in the country has a different buying habit and trend then another region. This is why dealerships in Truck Country will typically by their large SUVs and Trucks out of areas like San Diego. The Buyer's in San Diego, have a different want and need then the buyer's in Truck Country. Therefore, large SUVs and Trucks can be cheaper to buy in areas where people care more about fuel economy.
- Internet trade appraisal sites are based on information that they have collected about a certain vehicle.
This information can be up to 90 days old or older. Vehicle prices change daily by region, based on the money vehicles bring at the auctions.
Internet trade appraisal site can be a good place to get an idea of what your vehicle may be worth, but remember that their information is not up to date as a dealer's electronic black book.
- If a dealer has a vehicle like yours on his/her lot already this could be a factory in your value.
This is a real factor in how one dealer may appraise your vehicle over another dealer. If a dealer has recently had a car like yours on their lot and they lost money when they sold it, that dealer is typically going to be a little gun shy when placing a value on your trade-in.
- Are you trading your vehicle at the right time of year?
Just like a house you want to sell when the market it up. For i.e., if you live in a great school district you will get more money for your house during the months before school starts, as opposed to selling it in January.
So if you have a convertible to trade, you can get the money right when the weather starts warming up and the dealer is looking for convertibles to stock his/her inventory for the spring and summer.