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October 15, 2015

Value of a Used Car

Someday you may want to use your current car as a trade in for a new or used car (we hope it’s the latter, of course). You naturally want to know how much you can get in trade-in value for the car.

Read below for some tips to figure out how much your car may be worth as a trade in.

value of used car

  • Your first stop should be to Edmunds.com or to the Kelley Blue Book. You then type in the make, model year and the features of your car, as well as its mileage, and these two sites will give you a general idea of the car’s value.
  • But these two sites give you only general values nationwide. Any car’s value will be based on your location. After all, different regions and cities of the country are more interested in certain cars than others. A farming community, for example, will be more interested in – and therefore value more – a truck, while residents of an urban area may be interested more in smaller, compact cars.
  • Your car’s value also will depend on whether you intend to sell it or use it as a trade in. A car used as a trade in usually is valued at a lower price than if you sold it outright.
  • Just as with homes, the cleaner the car and the better shape it’s in (in regards to its year and mileage), the more value it holds. So make sure you clean the car thoroughly inside and out before selling it yourself or using it as a trade in.
  • If you wish to use the car as a trade in for a new or used vehicle, it’s best to have kept excellent and specific maintenance records – you could show these records to the dealership as proof of how well you’ve maintained the car when you go to use it as a trade in. It’s best if you keep these meticulous records as soon as you purchase a car, but if you haven’t, recording maintenance visits now is better than never doing so at all.
  • If your car’s make, model and year is one that is sought after, it’s wisest to start negotiations with a car dealer on the trade-in value first, rather than the price of the car you want to purchase.
  • If your car is not one that is sought after, negotiate the price of the car you’re buying first, and then start negotiating on your current car’s trade-in value.

If you’re in the market for a great used car, bring your current car to the PAACO location nearest you. We’ll provide you a fair price for your car while we help you find (and finance, if necessary), a terrific used car. Give PAACO a call at 877-810-4555 for more information.

Image courtesy of dream designs/FreeDigitalPhotos.net

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