HOW TO IMPROVE YOUR TRADE-IN VALUE
If you’re looking to purchase a new vehicle, chances are that you will want to trade-in your current vehicle! Trading-in with a dealership is a very convenient process, KO takes in trades everyday – so you can trust that our experts can guide you through each step. One thing to keep in mind is that there are many factors that affect your trade-in value, follow the 5 tips below to improve the value of your vehicle:
Do Your Research
It’s important that you have a good idea as to how much your vehicle is worth. Take a look at sources such as Edmunds, Kelley Blue Book, and Canadian Black Book to find out the average trade-in value of your vehicle. They will use the following details to calculate the value:
- Year
- Make & model
- Mileage
- Class
- Desirability
- Condition
Once you have established an estimated price range that your vehicle falls under, inspect your vehicle thoroughly. Consider its overall condition, mileage, possible repairs, etc. This will give you a better picture of what your vehicle is worth. Keep in mind that the moment you drove off the dealership lot, the vehicle’s value began to come down. The fact of the matter is, you’ll never get what you originally paid for the vehicle.
Have Your Vehicle Cleaned & Detailed
Having a clean vehicle will go a long way! Cleanliness shows the dealer that you took good care of your vehicle. You can clean the vehicle on your own, or have your vehicle professionally detailed for anywhere between $50-$200. Bodywork is also key, take a look around the exterior of your vehicle and check for dents, scratches, paint chips, windshield cracks/chips, etc. Most of these imperfections are fairly inexpensive to fix.
Check Your Tires
Make sure your tires are in good shape. If they are worn down, the dealer will have to replace them and this will affect the price of your trade.
Come Prepared With Paperwork
The more paperwork, the better! Get your vehicle inspected, have a history report available, and show recent maintenance such as oil changes and tire rotations. Having this paperwork will show the dealer that you were a responsible owner, it will also help the process move along quicker.
Drive Less
If you are considering trading in your vehicle, try to drive it less to avoid racking up the mileage, wearing down the tires, and risking anything else that may affect the value.
Why Trade With KO Auto Finance?
At KO, we have a team of product knowledge experts who will help you get the best value for your used vehicle! There is no pressure, we want the process to be easy and stress-free and we want to help improve your trade-in value. We also have partnerships with 6 dealers – so there are thousands of vehicles to choose from if you do decide to trade. Contact us today for a free appraisal!