If you have a vehicle you want to trade in when you purchase a new vehicle, it is essential to know how to negotiate to get a fair price. Having a little knowledge of negotiations will help ensure you get a fair value for your old vehicle.
#1: Know the Value of Your Vehicle
First, you need to know the value of your vehicle. Luckily, this is not a guessing game. There are lots of different websites where you can enter the information about your vehicle and the condition of your vehicle, and it will provide you with the value if you trade in your vehicle or go through a private sale. Additionally, you can also look up cars like your vehicle or similar to your vehicle on sale in the area and see what they are valued at.
This combination of information will give you a good idea about your vehicle's range of value. This will provide you with both a high-end and low-end value for your vehicle and allow you to have a realistic asking point when attempting to trade in your vehicle.
#2: Clean Up Your Vehicle
Curb appeals matter when you are trading in your vehicle. For example, you are more likely to get the asking price you present the dealership with when your car looks clean and well taken care of, and you are more likely to get a lower price if the inside of your car looks trashed.
Remove all personal items from your vehicle. Wipe down all the surfaces. Vacuum the inside well. Do a little mini-detailing job inside and outside your vehicle to make it shine and look great.
#3: Bring Your Maintenance Record
Third, you are going to want to bring your maintenance records if you have them. Showing the dealership that you took great care of your vehicle can help you secure a higher price for the vehicle when you trade it in.
#4: Keep the Trade-In Negotiations Separately
When it comes to working with the dealership, don't negotiate the new car price and the trade-in simultaneously. First, work out a value for your trade-in. That way, you will know what money you will get from the trade-in. Then, negotiate the price of the new car. The value of the trade-in should be used to bring down the price of the vehicle, and; you can use the trade-in value however you want — you can put it towards the car or pocket the money. Keep the negotiations separate to get the best deal on the trade-in and the vehicle.
#5: Be Straightforward
Finally, be straightforward. If you don't feel that you are getting a good deal, remember that it is in your power to walk away. Don't try to get more than the vehicle is worth. Be realistic about your car's value, and walk away from anyone not willing to pay you what the vehicle is worth.
Contact an auto dealer who negotiates car trade-ins to learn more.