Top Five Factors that Affect the Trade-In Value of Your Used Car

1. May 8, 2017 Top Five Factors that Affect the Trade-In Value of Your Used Car Image 1: Customers Can Ask Dealers about Getting Fair Trade-In Value for a Car One of the best ways to save money on a new car is to trade in your old one. A trade-in may be better than selling the car yourself because you avoid the paperwork needed, such as an inspection document and emissions test, not to mention proof of expenses on reconditioning the car, often presented by an individual seller. To gain some approximation of how much your car would sell to a dealer, following are the five top factors that affect its trade-in value and what you can do about them. Page | 1

2. Brand Brand is a significant factor that influences trade-in value because it embodies general perceptions about the car’s quality and reliability. Less reputable brands, no matter how exotic they look or low their mileage is, tend to have lower resale prices and may lose up to 60% of their original value. Furthermore, brands can be so important that they can fetch a good value, regardless of the external or internal condition of the car. Exterior Condition If you’ve maintained your car’s exterior well, this will help you in terms of trade-in value because dealers may scrutinize and quickly judge scratched surfaces or swirls as sources of depreciation. In order to gain a higher trade-in value, wash the car, have it paint corrected, and detailed as well. If you have the extra budget, let a body shop fix the dents. The total cost may lead to less than $500 and it can increase the value of your car by much more. While you’re at it, remove all stickers, including college logos and political mottos, because a blank and clean sheet metal is preferred by dealers. Interior Condition One of the first things that dealers check when buying a car is the smell. If you smoke, carry pets in the car, or often eat and drink while driving, your vehicle will most likely host a noticeable odor. Have the interior cleaned and detailed to eliminate these odors. In addition, replace old and worn factory mats with a new, inexpensive set of rubber floor mats. Clean out the glove boxes and consoles, too. Mechanical Condition Service records are vital in keeping the trade-in value high, as they take out the guesswork on the car’s overall auto-service history. If these records show your car is well-maintained, the vehicle's running condition will be perceived as excellent, resulting in a better trade-in value. Overall Mileage Mileage is the final factor of importance among those that affect your car's trade-in value. Your car may boast of nearly perfect exterior and interior conditions, but if it has logged 250,000 miles already, the trade-in value will suffer, because this means the car is nearly worn out. Page | 2

3. If your car has a trusted brand, good exterior condition and interior condition, a solid mechanical quality, and reasonable mileage, you are standing in good position for a decent value come trade- in time. Make sure all of these factors are attended to prior to visiting the dealership and before negotiating on a new vehicle. About Mcloughlin Chevrolet: At Mcloughlin Chevrolet, we offer fair trade-in value because we use an objective, computerized system called the Black Book trade-in value guide. You only need to enter the car's details to automatically receive a free valuation. If you contact us afterwards, we'll get in touch right away and arrange the trade-in. Sources: “9 factors that affect the trade-in value of your car,” BusinessTech.Co.ZA “The Nine Things That Affect Your Car's Resale Value,” TheCarConnection.Com, Page | 3