21 April 2016 · Buyer Advice
Find out more about your car’s trade-in value | Phil Gilbert Toyota
If you’re considering trading in, the most important thing is knowing the accurate trade-in value of your used car – no one wants to be ‘ripped off’. We’ll provide you with some useful information and tips on the trade-in process to help you get the best value price for your vehicle.
Why Choose a Trade-In?
First of all, you may be wondering if a trade-in is the best option to begin with. You could choose to sell the vehicle yourself through a private sale, but most of us simply don’t have the time to organise and facilitate those sales.
Trade-ins are a popular choice for car owners because you can use your existing vehicle as part of your new car purchase, making it a very simple and cost-effective solution.
Check Out Other Cars Listed for Sale
The easiest way to get an idea of the value of your own car is to look at other similar cars listed for sale. Do some research online and check out the prices of used vehicles. You can use our inventory tool by clicking here.
You can also use newspapers or trade magazines to get more of a solid understanding of the market.
Then you’ll be better equipped to visit dealerships and talk to some salespeople about the prices of vehicles comparable to yours. After that, you can confidently determine the value of your own vehicle.
Think About the Best Sale Time for Best Price
You might want to also consider the timing of your sale, to ensure you are able to get your proper trade-in price. Like every kind of sale, it’s best to offer your item when demand will be at its peak. For vehicles, this demand can be impacted by seasons of the year and current climate.
For example, if you’re looking at trading in your SUV, think about putting it out there to the dealers before the Summer adventure months of November to February. If you have a cabriolet or convertible, don’t trade it in the Winter – it’ll fetch a higher value price when it’s at its most appealing. Having an understanding of how the used car market works will help you better determine your own car’s trade-in value.
Have All Your Vehicle Documents Ready
Dealers will be impressed by a car that has all its oil changes, services and repairs well documented. You may find you’ll get higher offers if you have this paperwork reader for the dealer, as evidence that your car has been well maintained and looked after will bump up its price.
Unfortunately, it works the same way if your car has paperwork showing that it’s been involved in an accident or received extensive repair work. Consider all of these things when you’re determining the trade-in value you want to ask for your car.
Compare Multiple Trade-In Offers
Compare trade-in offers from multiple buyers and don’t be scared of negotiating the trade-in price for your car with dealerships. It's important that you don't feel pressured to immediately accept the first value price you're given.
It’s understandable that you may feel hesitant about knowing what offer to accept, or negotiating with a dealer – after all, this isn’t your day job or area of expertise. But you do deserve to get what your car is worth.
For Sydney car owners looking to trade in your vehicle, contact Phil Gilbert Toyota. Our team will happy to provide you with advice and guidance on your trade-in options and answer any questions you may have.