Trade-Ins

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When selling your car, the biggest value for it will come from selling it yourself. Other than that option, you have your trade-ins. This last option is increasingly common, and it saves you the headache of selling it yourself, and putting up with everything that comes with it.

No matter how you chose to sell your vehicle, you will still need to know your current used vehicle’s market value. Must stay realistic. The value of your car has been going down, depreciating, ever since you bought it, whether it was from a dealership or from a person. When trading in your car, expect the dealer to thoroughly inspect your car. He/she will be as thorough as you can possibly imagine.

Negotiate the best price for your purchase in the first place. This will play an important role when negotiating your car loan. Have a car for a trade-in? Rebates? All of this can be used in a negotiation, and it will impact your purchase price. The price of the car itself will play a role when it comes to calculating your loan.

Let’s talk about what negative equity means when it comes to your car loan. If you owe more on your car than its calculated market value, then you have negative equity in that car. Keep this in mind when you’re planning to use your current vehicle as a trade in on your car purchase. Now, having positive equity in your car means that its market value is higher than what you owe. Long car loan contracts make it very hard to reach positive equity on your vehicle. Don’t give up just yet. The dealer might cut you a deal where your car loan includes paying off your old car. Although this might be an option, you must also attempt to pay off whatever you owe on your current vehicle before signing a new contract. Negative equity can impact your credit score/rating.

car and truck financing: trade-in As I have mentioned before, many people give up when trying to sell their car themselves, and end up just using it in a trade-in. For a trade in, my suggestion that you take care of your car still stands.

Websites such as Kelly Blue Book will help you see what’s been happening to the price of your current vehicle. You can research how it has been performing in the previous years, and this will probably help you figure out what is going to happen in the next few years. The site will help you not only get an estimate on the price of your car, but it can give you reviews on how your car is doing in the used car market. It is a truly helpful tool.

Finding you current used car’s value is not complicated at all. It can be looked up by a bank or whatever other financial institution. Always keep your vehicle in decent shape, for it will affect positively the value of your trade-in.

If you are using a website to research your current car’s trade-in value, be prepared to present basic information on your car, such as: model, year, mileage, premium packages, wear and tear, just to name a few.

A car dealership usually makes more money from used cars than they do on their new ones. This obviously means that they are interested in your car as a trade in. This is why they will thoroughly inspect your car. They want to make the most amount of money possible on it. They even order a report on your car. And don’t think they can’t say “no” to your trade-in, because they absolutely can. Especially if they feel that your car is just going to be taking up space at their car lot.

IF you just happen to catch a dealer on the last days of their fiscal year, and they are just looking to close their quota for the year, then not only you can get a great value for your trade in, but you could possibly also get a great price for your vehicle.

10 Tips to sell your used car, FAST.

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