Things to Consider Before Trading in Your Vehicle

Trading in your current vehicle for a new one is a great way to get all the latest features in a new model while also getting something back in value for your current set of wheels. This money can either be used as a down payment on your next car, or you can get it back in cash. However, before you trade in your current vehicle, it is important to know how dealers like us value used vehicles. In fact, one of the most common questions we hear from folks is, “How do you value my trade?”

As you can imagine, there are numerous factors that can impact the valuation of a vehicle, including many that can end up reducing the amount you get back from a dealer. Conversely, there are some things many people aren’t aware of that can add value to your used car. Getting to know these things and preparing for the day you head over to our dealership is critical to ensuring you get the best deal possible when you are ready to trade it in. At Zimmer Chrysler Dodge Jeep Ram, we are always looking for quality used cars from customers like you. It is our goal to give you the best trade-in value for your car when you are ready to get your next vehicle.

The Make and Model

Each vehicle has an innate price valuation. This is because some brands have a better reputation than others. It also has to do with certain models being more popular than others, even if they are produced by the same automaker. This value is intrinsic to the specific vehicle and is not something you can change. However, the odds are that if you are driving a model that is not as popular as another one, you probably paid less for it when you bought it in the first place. Moreover, if you have a vehicle from a premium luxury brand that holds its value better, you probably paid more for it than your neighbor did for their car.

Your Vehicle’s Current Age

Believe it or not, your vehicle has an age. This is the model year for your vehicle. Even if you bought your used car, truck, or SUV three years ago, if it is a 2015 model year, then that is its age. As a general rule of thumb, vehicles lose value over time. The only exception is collector vehicles, like limited edition vehicles like Ferraris and McLarens. So, unless you are cruising around in a Bugatti, chances are that if you have an older model car, it will be worth less in a trade-in than a newer one. However, as you will see, there are other things that can have an effect on trade-in value.

Mileage

Another key factor is vehicle mileage. This is easily found by looking at the odometer on your dashboard. The more mileage your vehicle has, the less value you will receive in a trade-in. This is because mileage puts wear and tear on the vehicle, including working parts of the engine, transmission, brakes, wheels, tires, and suspension system.

In the old days of mechanical odometers, people used to try to cheat by tampering with the odometer to lower the reported mileage. Tampering with a vehicle’s odometer is an illegal act. If you’ve seen Ferris Bueller’s Day Off, you should also know that running a vehicle in reverse does not lower the reported mileage on an odometer. Today’s models use digital odometers that are part of the vehicle’s computer system. These are incredibly accurate and will factor into the valuation equation.

The Overall Condition

This is the one thing you have the greatest control over regarding trade-in value. If you have treated your vehicle well, you will maximize value in a trade-in. This includes keeping it clean and not running it hard. Driving your car at top speed may be fun, but it puts a lot of stress on the engine, transmission, and drivetrain. It also increases wear on your tires. In addition, taking care of your vehicle isn’t a difficult thing to do. Disposing of trash after a trip, wiping off bird dropping from the roof and windows, vacuuming the interior regularly, and other simple appearance maintenance will not only make your vehicle look great. It will also get you more money when you bring it to your dealer.

Scratches and Dents

Scratches, dents, and dings on your vehicle are unavoidable. Unless you drive around inside a plastic bubble, you are going to have pebbles kick up and scratch your car. You may even get a small crack in your windshield. The dealer understands this. However, these little blemishes can have an impact on the valuation of your vehicle. This is why it may pay to have a professional fix these little imperfections before you bring it over for a trade-in. The amount you pay for these fixes may pay for themselves when you save on the purchase price for your next car.

Maintenance History

A well-maintained vehicle will draw more in trade than one that has not had routine maintenance over its period of ownership. At a bare minimum, you should have the oil changed as often as the manufacturer recommends and get the tires rotated every 5,000 to 7,500 miles. Nevertheless, you need to have other things serviced as well.

Your cabin air filter collects all of the pollutants from the outside, keeping the air quality inside of your vehicle nice and fresh. After a while, this filter starts to look nasty and will make the passenger cabin smell less than optimal. The dealer will look for things like this, as well as levels of things like coolant, brake fluid, and transmission fluid. It may make sense to bring your vehicle in for a full service before you are ready for a trade-in.

Thoroughly Clean the Interior

Another thing you can do to make a good impression is prepare your vehicle for the trade-in. Start by removing all personal items from your vehicle. This may include maps, an extra pair of sunglasses, napkins, and shopping bags. The only thing that should be in your vehicle’s glove box is the owner’s manual, the registration, and a copy of the insurance card. You should also consider taking your car to a local car wash that offers interior detailing. Not only will they clean the exterior of your vehicle. They will also give a full, professional vacuuming of the passenger compartment and trunk. This attention to detail will help you get a better price.

What Adds Value to Your Trade-In?

There are several things you can do to improve the value of your vehicle. However, these are often items you need to add at the time you actually buy the vehicle. One way to increase the value is to opt for an OEM (original equipment manufacturer) package. Most automakers offer special packages on each trim level. These add enhancements like specialized appearances, extra safety and driver assistance systems, and off-road equipment like skid plates and advanced shocks. While this will add to the purchase price for the vehicle, you will be able to enjoy them while driving the vehicle and get a small premium on the trade-in value.

Similarly, many automakers offer available equipment, such as a bigger engine, a premium audio system, and a larger infotainment touchscreen. For example, a number of brands give you the ability to get a V6 engine instead of the base I-4 on their models. The V6 will not only improve the vehicle’s performance but also increase the value of the car, truck, or SUV. Similarly, choosing to equip your vehicle with a premium audio system will be great to listen to, and the increase in the trade-in value will be music to your ears.

This even applies to pickup trucks. Many automakers offer a factory lift on their models. This will increase the ground clearance, as well as improve the approach, departure, and breakover angles of your truck. Having a professional manufacturer’s lift on your truck will help you get more in trade-in value when it comes time to make a deal.

Get a Great Deal on Your Trade-In With Us

If you’re in the process of searching for a new vehicle and thinking about selling your old one, it may seem overwhelming. Perhaps the biggest issue is getting a great price on your trade-in. At Zimmer Chrysler Dodge Jeep Ram, we take the stress out of selling your car by offering you top dollar for your current model. Not only will we offer you a great price, but we will do so with complete transparency, providing you with the market value of your vehicle. You can see this first-hand by using the valuation tool on our website. We’re here to help take the stress out of selling your vehicle. Bring your car in today, and we’ll give you a fantastic offer on your trade-in.