To put it in the simplest of terms, the trade in value of your car is the amount which a car dealership will offer for your old car and put toward the price of your new vehicle. You trade-in the old car and drive off with a new car in the same transaction. But what determines the trade in value that you are offered and is it the best deal on offer. At Western Motors, our experienced sales team will always ensure that the car sale and trade-in experience is a fair and pleasant deal for all involved. Our years spent in the car business, cultivating repeat customers, and selling thousands of vehicles to satisfied clients confirms that we appreciate the value of a decent and equitable transaction. But, not all motorists are happy with the part-exchange value offered for their car on trade-in and occasionally some feel that the price offered might not equate to that of a private sale. It has to be said that the trade in price cannot be taken in isolation. It is a meaningless number until taken into conjunction with the price of the new car and the complete deal that is being offered. Let’s look first at the factors which are taken into consideration by car dealerships when calculating the trade-in value of your car.
Obviously, the age, mileage, and the specifications of the car itself are major considerations when calculating resale and trade in price. A history of good maintenance, an up-to-date NCT and a full service history will have a positive effect on the trade-in price. Likewise, the condition of the body work and the mechanical workings are a big factor that car dealerships consider. The fewer owners and drivers give a perceived sense of reliability and indicates a solid reliable car. In the last few years, older diesel models are not as enticing to the car showrooms as drivers move towards hybrid, PHEV and EV vehicles. Of course, the original value of the car has an impact on the calculations of the Trade in Value too. There are some simple things that a car owner can do to boost the price offered in trade-in -valuations.
In order to get the best price in a trade in or when selling your car privately, there are things with you can attend to before making enquiries on any new car deal. An Up to date NCT and Tax disc will increase both the value and the confidence of a potential buyer. If there are any simple fixes such as cracked mirrors or bad tyres, you might consider sorting those before discussing an accurate and good trade in value. It would be wise to invest in a valeting session or conduct a really deep clean, to bring the vehicle back to its best. The dealership will valet before any resale, but you don’t want to risk a lower resale price because of a messy first impression. Organise all the paperwork in a simple folder for ease of access and to show that you are a caring responsible owner. It is always useful to have a good frank chat with your local dealer about which kind of cars, models and specifics that are being sought after at the moment. At Western Motors our staff can give you up to date information on the sometimes-turbulent vehicle market and inform you which cars are selling well and give practical advice on what might be needed to increase the trade in value of your existing model.
Whatever the age, model or engine size of your car, our sales people will be pleased to give a trade in valuation once you have given an indication of the new or second hand car that you would like to trade against. Of course, you are under no obligation to take a trade in valuation offer on your car if you feel that a better recourse would be to sell privately. This is something that our experienced staff are happy to discuss with you so you can compare the car sale with or without the trade- in. The positive aspects of availing of a motor trade in while upgrading your car, is that it takes away the concerns and time consuming task involved in negotiating a private sale. It removes the worry of an unhappy buyer returning with issues or not paying the asking price. Timewaster and tyre kickers can be very disheartening. The car dealer looks after all of the paperwork involved in the trade in and the sale, and you drive away in your new car within moments of saying goodbye to your old car.
If you are in the market for a new or new second hand car for 2023, and want a fair, decent trade in valuation on your current vehicle, give us a call here at Western Motors and lets start the ball rolling on a new drive for a new year.