If you’re considering trading in your car you might be wondering if it’s worth it. Here’s what you need to know.
The value of your trade-in is based on a number of factors including the model make age mileage and condition of the vehicle. In general you can expect to get about 50% of the Kelley Blue Book value for your trade-in.
However keep in mind that the dealership will also factor in any money you owe on the vehicle and any necessary repairs. So if you’re upside down on your loan or the car needs a new transmission you’re not likely to get full value for your trade-in.
In addition the dealership may offer you a lower trade-in value if they think they can sell the car for more than the trade-in value. They may also offer you a higher trade-in value if they’re trying to unload a high-mileage car or a car with known mechanical issues.
Ultimately whether or not trading in your car is worth it comes down to your personal circumstances. If you’re looking to upgrade to a new car and you have negative equity or the car needs repairs it may be worth it to trade it in and take the hit on the value.
On the other hand if you’re happy with your current car and you don’t owe any money on it you may be better off selling it privately and pocketing the difference.
Is it worth it to trade in your car?
How much can you expect to get for trading in your car?
How much is the trade-in value of my car?
How do I calculate the trade-in value of my car?
What is the best way to get the most for my trade-in?
How do dealerships calculate trade-in value?
Should I trade in my car or sell it myself?
Is it better to trade in my car or sell it outright?
What are the benefits of trading in my car?
What are the drawbacks of trading in my car?
How do I prepare my car for trade-in?
What do I need to bring to trade in my car?
How do I negotiate a trade-in?
What should I do if I’m not happy with the trade-in offer?
How do I know if trading in my car is the right decision?