Most dealerships offer the option to trade-in/trade-up your old car as a way of getting a new one and finding the next great vehicle to drive.
After driving your current vehicle for years, you’ve decided that it’s time to get a more modern ride. Whether you’re interested in fresh technology, new safety features, or just an updated look, there are plenty of amazing modern vehicles ready and waiting.
Of course, you have to figure out what to do with your current car. Utilizing a dealership’s trade-in/trade-up program is a fantastic way to offset the cost of a new ride. At the same time, trading in your car may not be the best option, like in cases where someone else in the family will take over driving it.
Here’s what you need to know about how trade-in/trade-up programs work:
What is a Trade-in Program?
The concept behind a dealership’s trade-in program is pretty straightforward. You essentially sell your car to the dealership. In lieu of giving you cash, the dealer takes the sale price off of your next purchase.
Many dealers will also offer to purchase your used vehicle, even if you’re not planning on buying a new one from them. This is less of a trade-in and more of a straight sale.
The Top Reasons Trade-in/Trade-Up Programs Are Awesome
Dealerships with trade-in programs can tout the various reasons why you should trust their trade-in options. The goal, however, is for you to make a great choice. So here are the ways trading in your old car benefits you.
It’s Never Been Easier
In the old days, you would have to take your vehicle out to the dealer for a lengthy inspection and negotiation to even get the value for your trade-in. Today, you can do most of the work online.
Start by going to the dealership’s webpage and entering information about your car into their trade-in value tool. The dealer will give you an estimate or a direct offer. You’re under no obligation to accept, and you can easily shop around. Best of all, you can use online tools like Kelly’s Blue Book to determine if they’ve offered you a fair amount.
Take Care of Business In One Place
Trading in your car isn’t just easy; it’s efficient. You can essentially bring your old car to the dealership and then drive home in your new car. This process can be complicated if you’re selling your car to one dealership and then buying from another, but you’ll find the whole thing is much easier this way than trying to deal with a private sale.
Another perk is that the dealership can take care of all of the necessary paperwork to complete the transaction. When you unload your car via private sale, there’s tons of paperwork and forms you have to consider, like transferring the title or creating a bill of sale. Your dealership already knows which documents are required in your state and can streamline the entire process.
You can even talk to your dealership about trading in a leased vehicle, a car that still has a loan on it, and more. The sky is the limit, and your local dealer can be your guide.
Trade-in/Trade-Up Today And Save
When you take advantage of your local dealer’s trade-in program, you can automatically knock some money off of your next purchase. You can even save money on sales tax as it gets absorbed into the overall transaction.
Even if you’re not sure if trading in your used car is the right choice for you, there’s no obligation to proceed if you don’t like the deal. You can get free trade-in quotes from your local dealer without leaving the comfort of your home. Ultimately, you have nothing to lose and nothing but a great deal to gain.