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Perhaps one of the biggest decisions in the life of your car is figuring out “when should I trade the vehicle in?” Is it best to trade it in within a specific number of years? Is there such a thing as too many miles on the odometer? Does it have to be perfect? It probably won’t be a shock to figure out that there isn’t an easy answer to these questions. Yet, we do have a few advice to help you decide when to trade in your car.
This is generally the first question vehicle owners consider. After all, most people think that the best way to get top dollar for their pre-owned vehicle is to sell it on their own vs. trading it in. Still, there are a few things to look at when attempting to decide if you should trade-in your car or sell it.
Selling a vehicle can take several weeks or longer; especially if your car needs repair work. The seller would have to arrange every facet of the sale process, from posting an advertisement, to test drives, to haggling on price, and everything in between. Conversely, trading in a car generally takes place the same day you buy your new vehicle with only slight negotiation.
Typically the person selling the vehicle is responsible for providing the buyer with the necessary paperwork, such as registration and the vehicle’s title. For the inexperienced seller, this may be a disheartening and long procedure if there are unexpected challenges connected to the paperwork, like a lien. We are capable of taking care of the paperwork, surprises included.
One of the biggest benefits of trading in your car is the potential tax benefit found in states with a state sales tax. For these states, there’s a credit applied to your new car’s sales tax if the buyer trades in a car at the same place they buy a new vehicle. In short, the taxes are only applied to the price difference once the cost of the trade-in is figured into the final sale price. The savings can easily reach up to thousands of dollars.
There are plenty of schools of thought on this, especially with late model cars that are specifically engineered to last a long time. But, there’s a nearly universal agreement of these three mileage ranges to think about when trading in your car:
This is when nearly all new car warranties expire. On the other hand, this is also when the first replacement of ‘wear-and-tear’ items, like brakes or tires, are typically done on cars. Your car depreciation will generally begin to grow faster at this point, so the closer your vehicle is to these miles, the better your trade-in will be.
Depending on usage, a car that reaches this mileage will generally be between 3 to 5 years old and most likely has had many appointments at the local automotive repair shop for routine service. Obviously as the miles pile up, the value of the vehicle gets lower so owners should take this into account when considering their trade-in.
It’s true that hitting this milestone isn’t nearly the automotive death sentence that it was in the past, thanks to modern engineering. But, the more miles of your car, the greater the depreciation in all but the most exceptionally kept vehicles. Anything within this mileage can still have a positive trade-in value even though it isn’t in perfect condition. The condition of your car is reviewed more closely as the miles grow on your odometer.
Finally, an important part of trading in a vehicle is being prepared for the trade-in evaluation. These recommendations are not the only ideas but these steps can help you get the most value out of your car.
This ought to be a no-brainer, but many people believe showing their car ‘as-is’ is an honest approach to a trade-in assessment. While we are not advocating hiding problems or blemishes (Just so you know, they will see through that regardless), it’s not a bad idea to clean up your car before bringing it in. This means removing all trash and debris from inside the car (yes the trunk too), vacuuming and washing the interior and exterior, and perhaps even doing a nice interior and exterior detailing. Just think of the evaluator as a buyer of your car and prepare the vehicle.
We get that repairs can be overwhelming, especially for significant mechanical issues. But, if you can fix minor dings, chips in the paint, and cracks in the various windshield, mirrors, and windows, all of those fixes will help improve the price of your trade-in. When possible, we suggest fixing any mechanical concerns the car may have. The better the condition of the vehicle, the more money you will get for your trade-in.
If you have decided trading in your car is the best decision, then we recommend coming here with all of your car’s documentation, including the title (if you have it), registration, any maintenance documents you have, and all copies of the vehicle’s keys. Show up ready to trade-in your vehicle and you will speed up the process of driving away in your new vehicle.
Considering trading in your car or SUV for a new one? Volkswagen of Alamo Heights provides the help you need to get the best value for your trade-in. Call us to schedule an appointment or visit our dealership to get started.
Very pleased with the service and staff . The waiting was not bad . Friendly place and good Caffee 😀
My experience at Volkswagen of Alamo heights was great. The service staff was helpful and explained all of my concerns with knowledge and helpfulness.
They were súper nice, friendly, and professional throughout the entire process. They answered all of my questions, kept me informed, and made sure everything was taken care of.
Scheduled a week ahead, service completed as promised, slightly ahead of the time allocated. Thank you.
The advisor was friendly and was giving me an update of the vehicle was at. Final texts was that it was ready.
