Deery of Iowa - Tips for Getting Max Trade-in Value

You're ready to buy a new car, you have a make and model selected, you've been pre-approved for financing, there's just one thing left to do; get rid of your existing car. The question arises, "Shall I take to the dealer for a trade-in, or sell it privately." Before you stick a 'for sale' sign in the windshield, consider the benefits of trading in your vehicle. First and foremost, it'll save you a lot of time. Deery Brothers Chrysler Dodge Jeep RAM located at 651 Highway 1 West, Iowa City, IA is happy to help you get the most for your trade-in. Call 319-855-1023 for answers to any questions you may have.

Deery of Iowa

How trade-in values are determined

There are five main factors taken to consider when calculating a vehicle's trade-in value:

Age of the vehicle. Newer models are most attractive to shoppers. Iowa City residents want to purchase a reliable vehicle; a newer vehicle will usually come with a transferable warranty.
Make and model. Some brands hold value for longer and are in higher demand, thus, resale price will higher.
The condition of the exterior and interior. The better condition the vehicle is in, the more valuable it will be.
Mileage. The lower the mileage, the higher the trade-in value.
Desirability. Some vehicle brands and models are more popular than others, if your car is popular among consumers, you'll get more for your trade-in.

5 Ways to Get the Max Trade-In Value

Before you head to our dealership, do a bit of research so you have an idea of what your current vehicle is worth. Kelley Blue Book, Edmunds, and CarsDirect are excellent reliable resources.

Keep in mind that these websites will give an estimated value for your vehicle. The value could change once it goes through our professional appraisal process.

1. Make sure to have maintenance and repairs done

Don't spend a load of repairing your vehicle, but make sure small things are fixed, the oil and filter are new, check hoses, belts, fluid levels, and tires. Only make necessary repairs on things that will increase the value of the car. If there's something major wrong with your vehicle, get an estimate for the repair. Look at that number and compare it to the estimated trade-in value. Is it worth it to pay the money for the repair? Sometimes it's best to let the dealer take care of it. For example, let's say a repair would cost you $1000 for parts and labor. If you trade-in the vehicle at a dealer they would be able to fix it for the cost of the parts, let's say $500. They would subtract the $500 from the final trade-in price, but you'd save money in the end. It would essentially cost you $500 instead of $1000.

2. Take a good look at the bodywork

Dents, dings, and scratches will drastically reduce the value of your trade-in. This is one area where it's definitely worth the money to do some repair. Dent removal is fairly inexpensive. And it's very affordable to have a whole panel repaired if necessary.

3. Make sure your service records are up to date

You should keep track of tire rotations, fluid changes, paint or body repairs, engine repairs, and any other maintenance throughout the life of your vehicle. All of this should be present in a CARFAX report, however, anything can happen with these automated systems so it's best to keep records of your own. If you didn't keep records, not to worry, the dealer, or shop that you used, should have this information stored int heir system. These records demonstrate that you've taken good care of your vehicle and that it's in excellent running order.

4. Detail clean your car

First impressions make an impact, so make sure your car is clean. There are companies out there that do detailing for around $50. This is an excellent investment. If you an afternoon free and want to do it yourself, check out AutoTrader's complete detailing checklist here.

5. Negotiate the trade allowance

You should negotiate the trade allowance just as you would negotiate the purchase price on a new vehicle-which leads back to the importance of doing your research ahead of time. Click here for an estimated value for your vehicle.