How to Ready Your Trade-In
Trading in your previous vehicle is a key part of purchasing a new vehicle. Your local dealership in Maryland wants to make sure that you get the best price possible for your trade-in so you can put that value towards the purchase of your next vehicle. Follow these easy tips to make sure you are getting the most out of your trade-in.
Do Your Research – Knowledge is an important tool in negotiation, which is why you should do your homework to see the value of your trade-in before you even talk to your local dealership in Maryland. Feel free to use our simple and free Value My Trade to see an approximation of what your vehicle is worth based on age, mileage, and vehicle type.
Remember What the Dealer Needs – When a dealership makes a transaction, they usually want to make at least 2% to 4% percent profit. Once you have your estimation, add any refurbishings, and then subtract 3%. This will give you an approximate value of your trade-in.
Regular Maintenance – Make sure your vehicle gets the maintenance that it requires to stay at peak performance. If your vehicle doesn’t get the maintenance that it needs, such as regular oil changes and coolant renewal, then the value of your vehicle will more than likely drop. Make sure you bring your vehicle to your local dealership in Maryland for maintenance often.
Keep Your Model Clean – It is important to bring a clean vehicle into your local dealership in Maryland when it comes time to trade it in. This will show our team that the vehicle was properly cared for and has received the maintenance and attention that it needs.
Bundle Your Trade-In and New Car Transactions – If you pair these two transactions, you will get a tax break for the value of the model you’re trading in. For instance, if you buy a vehicle for $30,000 but your trade-in is worth $6,000, then you will only have to pay taxes on $24,000.