Trading in your current vehicle is one of the most straightforward ways to reduce the cost of your next car purchase. The trip to the used lot provides a one-stop shop for many buyers in Detroit, who can sell and buy cars. But not all trade-ins are alike. The value you get is going to be determined by how well you prep, negotiate and present your car.
If you’re considering trading in your car at a Detroit used car dealer, here are some practical tips.
Know Your Car’s Value Beforehand
Entering a dealership without knowing your car’s value puts you at a disadvantage. Before walking into a used car dealer, check what the trade-in value of your vehicle is by searching online with tools like Kelley Blue Book or Edmunds. These tools give you an approximate estimate based on your car’s make, model, mileage and condition.
Pro Tip: Take your research with you to the dealership. If you have complex numbers, that strengthens your position in negotiating.’
Clean and Detail Your Vehicle
First impressions count, even at a dealership. A dirty, messy or uncared-for vehicle can knock the perceived value of it down a notch. Although dealerships will recondition vehicles before selling them, a clean, well-maintained car can help juice your trade-in offer.
· Wash and wax the exterior.
· Vacuum out the inside and then take everything home.
· Clean windows, carpets, and seats.
The money you spend on professional detailing can give your car a completely new look.
Fix Minor Repairs
You’ll need to figure in your repair expenses when determining how much you’ll get for your trade-in at a dealership. Little things like burned-out bulbs, minor scratches or low tire pressure will lower your offer. Fixing them on your own is usually cheaper than what the dealer would dock from your car’s value.
But try not to invest too deeply in big fixes. Like, say, replacing the transmission wouldn’t have anything to do with return on investment. Focus on quick, affordable fixes.
Gather All Documentation
An ability to provide a pre-auction history can bolster confidence in the dealer. Bring:
· Service and maintenance records.
· Original manuals.
· Warranty documents, if applicable.
· Extra keys or accessories.
Demonstrating that you’ve maintained your vehicle instead indicates reliability, and it could inflate your trade-in value.
Time Your Trade-In Strategically
When you trade in the car, it plays a part. Like anywhere, dealers in Detroit may have promotions going on or need certain vehicles to meet demand.
Spring and summer: You can trade in convertibles or sports cars then.
Fall and winter: Good months to trade in SUVs or trucks, which are more popular during snowy Michigan weather.
Time your trade-in to coincide with maximum demand for your type of vehicle.
Shop Around at Multiple Dealerships
Avoid the first trade-in offer you obtain. Each dealership may price your car differently depending on its current inventory. Look for 2-3 used car lots in Detroit and get quotes.
Even if you’re locked into a particular dealership for your next purchase, you can use other offers as leverage in negotiations.
Tell the Truth About Your Car’s Condition
Dealers will scrutinize the cars’ as-is condition before they conclude the trade-in. Being forthright about it — an accident history or a mechanical niggling, say — saves time and builds trust. Ducking defects won’t help negotiations — and it could actually slow them down.
Negotiate Trade-In and Purchase Separately
If the trade-in values you receive are significantly lower than your expectations, selling privately may result in a better price for your car. The optimal solution does, however, take more work and time. Consider the convenience of selling it back to a dealer versus potentially higher cash in your pocket from a private sale.
To Sum Up
When visiting used car dealers in Detroit, you don’t have to feel like you’re settling for less than your car is worth when trading it in. If you prepare by cleaning, performing minor repairs, ensuring proper documentation, and conducting some market research relevant to buying, your car will be worth substantially more. Add just the right touches of smart negotiation and strategic timing, and you’ll ride away with a deal that puts more money in your pocket and leads you to your next one.
