Valuing your Trade-In
How Much Is My Trade-in Worth?
How do you know how much your trade-in vehicle is worth? A lot of things go into arriving at a fair
market price for your used car, truck, van or SUV such as:
So, it generally takes a visual inspection by an appraiser to get to a final value for your trade-in. However, as an initial step, you can use a trade-in valuation tool like the one you find by clicking here to find out the range of what you can expect for your car. The valuation tool asks you for information like make, mileage, year, mileage and more. It then calculates what the average market price is for that type of vehicle in the current market.
Should I Sell My Car Privately? Or Take it to a Dealership?
Private sales between you and buyers at large are made easier with access to online marketplaces like Craigslist, Autotrader, Facebook Marketplace and eBay. But there are pluses and minuses to selling your car that way. While it is true that it is possible to get a higher price on the private market for your used car than you can from a reputable dealership, it is also possible to get a lower price. So, if you aren’t really knowledgeable about cars and how much they are worth, and you aren’t comfortable with negotiating, you might be better off trading your vehicle in directly to the dealership. Here are some of the advantages:
But, if a) you really know a lot about cars and their values and don’t mind the extra steps involved with selling the car yourself, or b) you are selling your vehicle to someone you know and trust and are sure you can come to a reasonable price, then it may very well serve you better to sell your car first and then go into the dealership to buy a new vehicle. However, the majority of people out there don’t find themselves in that position, so it often pays to deal with a reputable dealership with an established location and business history. If you want my help trading in your vehicle or selling it to a the dealership I work for, email me at seth@castrocarguy.com.
How do you know how much your trade-in vehicle is worth? A lot of things go into arriving at a fair
market price for your used car, truck, van or SUV such as:
- Current demand for that particular model
- Number of like vehicles available now on the used car market in the Bay Area
- Mileage
- Any damage or excessive wear
So, it generally takes a visual inspection by an appraiser to get to a final value for your trade-in. However, as an initial step, you can use a trade-in valuation tool like the one you find by clicking here to find out the range of what you can expect for your car. The valuation tool asks you for information like make, mileage, year, mileage and more. It then calculates what the average market price is for that type of vehicle in the current market.
Should I Sell My Car Privately? Or Take it to a Dealership?
Private sales between you and buyers at large are made easier with access to online marketplaces like Craigslist, Autotrader, Facebook Marketplace and eBay. But there are pluses and minuses to selling your car that way. While it is true that it is possible to get a higher price on the private market for your used car than you can from a reputable dealership, it is also possible to get a lower price. So, if you aren’t really knowledgeable about cars and how much they are worth, and you aren’t comfortable with negotiating, you might be better off trading your vehicle in directly to the dealership. Here are some of the advantages:
- The process is simple you don't have to post any ads, take calls or meet with potential buyers.
- The dealership will more likely provide you with an unbiased market-based estimate of the value of your vehicle rather than spend a lot of time negotiating down to an even lower price than the market dictates.
- You generally don't need an appointment to have your vehicle appraised, and it is usually free of charge. Private sales require you to synch up schedules to meet in person.
- Dealership appraisers are professionally trained, with year of experience and have access to tools for determining your vehicle's fair, market-based price.
- Dealerships generally take care of all the paperwork for you, You don't have to deal with DMV or worry that the buyer doesn’t file necessary documents which leaves you in jeopardy should something happens with that vehicle in the future that can place you at liability
But, if a) you really know a lot about cars and their values and don’t mind the extra steps involved with selling the car yourself, or b) you are selling your vehicle to someone you know and trust and are sure you can come to a reasonable price, then it may very well serve you better to sell your car first and then go into the dealership to buy a new vehicle. However, the majority of people out there don’t find themselves in that position, so it often pays to deal with a reputable dealership with an established location and business history. If you want my help trading in your vehicle or selling it to a the dealership I work for, email me at seth@castrocarguy.com.
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