Trading in your old vehicle is a smart way to help reduce the cost of a new one. However, it’s a good idea to estimate your trade before you visit your local car dealership, so you can be prepared for the negotiation process.
Getting a Trade-in Estimate Benefits
You Will Know the Value of Your Car
Estimating the value of your trade-in vehicle yourself means you will know the value of your car before you visit the dealership. Online valuation tools can estimate the fair market value of your vehicle based on the year, make, model, mileage, and more. Doing the estimate yourself means you have a baseline for comparison when the dealership gives you a trade-in valuation offer.
You Will Have More Negotiation Power
When you know the value of your trade-in vehicle, you will have more negotiation power when you purchase your new car. Many drivers use the value of a trade-in to help offset the price of a new vehicle. When you have a solid estimate of your vehicle’s value, you can push the dealership to match that estimate before you finalize the deal.
You Will Understand Your Budget
Finally, estimating the value of your car before you go car shopping means you will understand your budget. The bottom line of your auto loan is the amount you can afford to spend after the value of your trade-in has been subtracted from the cost of your new vehicle. With a solid trade-in estimate, you will know how much you can borrow.
What Is the Estimation Process?
The trade-in estimation process can easily be done using an online tool provided by your dealership. To use this tool, you will need to visit your dealership’s website. Once you access the valuation tool, you will simply input information about you and your vehicle, and the valuation tool will do the rest. Your driver’s license number, vehicle title and registration, make, model, and VIN may all be necessary information to have on hand when you are valuing your trade-in vehicle.
What Happens After You Get a Trade-In Estimation?
After you get an estimate for your trade-in vehicle, you can visit the dealership to purchase your new car, or you can apply for pre-approval for an auto loan. When you visit your dealer, you should bring your trade-in estimate and relevant documents. Your dealership will inspect your vehicle to ensure it is functional, and then a final trade-in offer will be made. From there, you can complete the trade-in separately or use your trade-in as part of your new vehicle price negotiation.
Estimate Your Trade-in Online at Our Silver Spring, MD Car Dealership
Estimating the value of your trade-in vehicle is one way you can prepare for the car-buying process. Estimating your car’s value before you visit the dealership puts you in a better position to negotiate the price of your new car. To estimate the value of your vehicle, visit DARCARS Lexus of Silver Spring today.
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