Determining the trade-in value for your vehicle doesn’t have to be confusing. At Mike Toler Chrysler Dodge Jeep® RAM FIAT, we’ll help you along the process and clearly explain all the factors that go into your trade-in valuation, including condition, mileage, and demand. Here’s what you need to know.
Vehicle Condition
The condition of your vehicle is one of the most important factors to consider when trading in your car. If the vehicle is in good shape, with little visible wear and tear and no signs of accidents or damage, you will likely see a higher value for it. Before you get a lot of repair work done, however, you want to make sure you’ll see the value of those repair costs returned when you go to trade in.
Mileage
You also want to consider your mileage when trading in your vehicle, which is often times even more important than vehicle age. Mileage tells dealerships and future buyers how hard the vehicle was driven and how much life it has left, so vehicles with lower mileage will likely have higher value appraisals. Low mileage is especially beneficial in older vehicles, which typically get lower trade-in appraisals.
Market Demand
One factor that is often out of the owner’s control is market demand. If you have a popular vehicle that is still regularly bought and sold, you’ll likely see higher value appraisals for it. Vehicles that are less popular or very plentiful will likely get lower appraisals. While you can’t change the market, it’s useful to do research when buying a vehicle, so you know what cars might retain their value better.
Get Your Accurate Trade-In Value in Morehead City, NC
Ready to trade in your vehicle? The team at Mike Toler Chrysler Dodge Jeep RAM FIAT can help you along the way. We even offer a vehicle trade-in calculator right here on our website. Visit our dealership to start the trade-in process and get a transparent valuation for your vehicle.