How Does Trading in a Car Work?

August 17th, 2018 by

2018 Sonata Limited

Driving needs change over time, and eventually, your existing vehicle may not accommodate your new job or growing family. If you are looking for more space, power, or technology upgrades, trading in your current car for the latest model is great option. To ensure you get the best value for your trade, it’s important to understand the process. When you go to trade in your car in Norman, you will need to:

  1. Know your car’s current value
  2. Get quotes from local dealerships
  3. Negotiate for the best price

Find Vehicle Value

Before you start collecting quotes, it’s important to understand what your car is actually worth based on its age, mileage, and condition. There are many tools available to help you with this research, including reputable websites such as Kelley Blue Book. You can also look through the used inventory on dealer sites to see how models similar to yours are priced, as well as private listings. Once you’ve browsed a variety of sources, you’ll have a solid idea of the price range you should expect.

Estimate

Now that you know your vehicle’s ballpark value, you can begin reaching out for actual quotes. By providing some basic information about your car, dealerships can easily give you an estimate for your trade, and many have online calculators to make the process run smoothly. Since you already have an idea of what your car is worth, you can decide whether or not to proceed on a deal based on the estimated quote. It is a good idea to get multiple quotes so you can get the best price.

Negotiate

Estimates are not the final word on your trade; many dealerships may offer additional incentives, such as money towards a new purchase if you work with them. Negotiating additional perks will help you get the greatest value in your deal. If a competing local dealership is willing to offer you more, this will help you get the price you want.

Trade In Your Vehicle at AutoMax Hyundai Norman

At AutoMax Hyundai Norman, we help Norman shoppers get the best possible deal for your trade in. Once we value your trade, we offer an extensive selection of new and used vehicles for you to choose from. We look forward to working with you!

Find Your Next Used Vehicle

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