How and why car dealerships place specific prices on vehicles when they’re traded in is not widely known. Do they conduct research, or are they pulling numbers out of thin air? Below, we explain how car dealerships assign values to trade-ins.
Generally, dealerships offer wholesale pricing to customers and sell trade-ins at a retail price to make a profit. Dealerships must consider numerous factors that affect the final trade-in value.
Some of these variables include:
- Age/Year
- Mechanical Condition
- Mileage
- Ownership
- Paint Color
- Popularity of Make and Model
- Seasonal Demand
- Accident History
Most dealers thoroughly inspect trade-ins, as your car’s condition plays a large role in how much cash you can get for your car. The dealership considers any cosmetic or mechanical issues that you present to them, so any work that they must complete before re-selling can significantly affect how much money you receive. Depending on the amount they offer you, consider whether it’s in your best interest to resolve these problems before trading it in. Sometimes, they’ll give you more cash for your car if you take care of the repairs yourself.
Although going to a dealership is often a painless way to get rid of your vehicle, people still seek alternatives. This is because you’re not necessarily going to get top dollar for your vehicle if you sell it to a dealership or trade it in. Your chances to receive more for your car are higher if you sell to a private party, so, what if we told you there is a simpler way? A national survey shared by PR Newswire confirms that “over half of Americans (54%) would love the ability to buy or sell a car without ever leaving home.” If you need to sell your car in the lower 48 United States, Don’t Trade It In. Tell us about your car, we’ll give you an offer, and once you agree to our terms, you’ll receive an electronic transfer or check for your vehicle. Yes—it’s that simple. Plus, we guarantee that we’ll give you more than the dealer*. Contact us today!
Although going to a dealership is often a painless way to get rid of your vehicle, people still seek alternatives. This is because you’re not necessarily going to get top dollar for your vehicle if you sell it to a dealership or trade it in. Your chances to receive more for your car are higher if you sell to a private party, so, what if we told you there is a simpler way? A national survey shared by PR Newswire confirms that “over half of Americans (54%) would love the ability to buy or sell a car without ever leaving home.” If you need to sell your car in the lower 48 United States, Don’t Trade It In. Tell us about your car, we’ll give you an offer, and once you agree to our terms, you’ll receive an electronic transfer or check for your vehicle. Yes—it’s that simple. Plus, we guarantee that we’ll give you more cash for your car than the dealer*. Contact us today!
