Three reasons to trade in your vehicle when you buy your next vehicle

Trading in a vehicle can be a stressful and frustrating experience because as we all know, we are not getting the true market value of our vehicle. We are actually getting less because obviously, the dealership will be selling at market value and it needs to account for possible repairs, selling the vehicle and the costs that are associated with that, and preparing the vehicle to be sold. And we don't think you will be surprised to know that dealerships also want to make a profit on the vehicles they sell which is reasonable.

That said, you can still get a good deal by trading in your vehicle. Here are three things to consider.

You get more than you think with a trade-in

When you trade in a vehicle, you are getting the book value for that vehicle. When you sell the vehicle, you are getting the market value.. However, let us assume that you will be taking the money you receive and putting it towards your next vehicle. If you take the money from your trade-in, that means that you are taking money and applying it to your next vehicle before taxes are calculated. If you take the money you received by selling it yourself, you are putting the money down as a deposit which is calculated after the taxes are added to your vehicle.

In simple terms, the amount you receive for your trade in must be calculated as the amount the dealership is giving you plus tax. This can significantly narrow the gap between the market value and the book value.

Trade-in values have increased

There is a huge demand right now for used vehicles which has increased the price of trade-ins. You might be getting a lot more for your current vehicle than you thought. It is definitely worth talking with your dealership and seeing what they can give you because you might just get what you wanted.

You can save considerable time

You can save a lot of time by trading in your vehicle. You save time by not having to sell it yourself, you save time by not having to take phone calls and putting up the vehicle for sale, and you save time by avoiding the risk that the person who purchased your vehicle isn't happy and they have a complaint afterwards. When you trade in your vehicle, you give over the keys when you buy your next vehicle and that's it.

When you put all of these factors together, trading in your vehicle can be very beneficial. Give us a call today to learn more.