How Does Trading in a Car Work?

July 7th, 2018 by

Finance-1

If you’re looking to upgrade your current vehicle to get more power, space, or the latest  technology features, trading in your car can help you lower the price of a new vehicle (or a used one). But before you head to your local Rolla dealership, it’s important to understand how trading in a car works and what information you need at your disposal. Doing some initial research, getting multiple quotes, and negotiating for incentives will help ensure you get the best possible deal for your trade in.

Research Your Car’s Value

Perhaps the most important step of the trade-in process is researching how much your vehicle is worth based on its age, mileage, and condition. Luckily, it is very easy to conduct this research online, thanks to reputable resources such as Kelley Blue Book. Plugging a few key specs into trade-in calculators will help you get a good ballpark for what your car is worth, as well as browsing dealer sites for prices on comparable used models.

Once you understand what you can reasonably expect for your current vehicle, it’s time to start getting some quotes from dealers.

Get Quotes

Research in hand, it’s time to start working directly with dealers. Receiving quotes from dealers is easy; most will give you an upfront quote on your vehicle even if you don’t want to buy from their inventory. It is recommended that you get multiple estimates for your car to ensure you’re getting the highest dollar amount possible. When you receive a quote that feels in line with your research, you can continue moving forward with the deal.

Negotiate Perks

Finding a trade-in price is not the final word in the arrangement; many dealerships can offer additional incentives to sweeten the deal, including money toward a new purchase or service perks such as free car washes. It is wise to negotiate for your best possible deal, and you can use your researched quotes to your advantage — just know that many services offer driver-to-driver value estimates.

Once you’ve come to a satisfying arrangement, it’s time to get the new car you’ve been hoping for!

Key from the car and the calculator on money.
Car ignition with key, close-up

Trade In Your Vehicle at Kingdom Kia

Kingdom Kia is here to help Rolla drivers find a new car with support from a trade-in deal. Once we value your trade, you can browse our exciting selection of new and used vehicles to find the perfect vehicle for your needs. Contact us today! If you’d like to learn more, check out our other articles on everything from trade-ins to gap insurance costs!

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