If you currently own a vehicle but want a new one, there are a few options. None are as convenient as trading in your automobile with the dealer. You don’t have to wait for a passerby to show interest in your “for sale” sign or for someone to answer a classified ad. Many dealerships offer trade-in services to help you save, among these various benefits:
The trade-in amount agreed upon by the dealership will be subtracted from the purchase price of the car. If the car you want is $27,000 and $7,000 is offered for your old vehicle, then you’ll only have to apply for a $20,000 loan. A lower final price also means less sales tax to pay. In many states, you’ll only pay sales tax on the difference between the new car’s price and the cash you receive for the one you’re trading in.
The Dealer Is Your Only Contact
Your trade-in auto dealer will handle every step of the process. There’s no middleman or potential buyer to wait for. The dealer provides an opportunity to negotiate and it might take just a day or two to complete the transaction, rather than wait months to find a buyer. You also don’t have to put in the effort to advertise your vehicle. Your dealer will appraise it and make an offer; then all you have to do is sign off on the deal.
Apply Your Trade-In Value to a Down Payment
If your car is paid off or you’ve built equity on the vehicle, it could be possible to apply its value to the down payment. You’ll therefore need less financing. With a reduced loan, your monthly payments and interest charges will be less than they’d otherwise be. The dealership may also offer additional financing options once you’ve traded in a vehicle.
Save Lots of Time
The process of selling a car yourself, as touched on earlier, is a hassle. It can be hard to convince people your old car is the right one for them. Everyone is looking for the best deal. Today’s consumers are more educated than ever before, and they’ll look for every opportunity to negotiate. You might not get the fair market value for your vehicle. However, a dealership has inside market knowledge and may be willing to make a fair trade, while offering you a discount on your next car.
Can I Trade-In My Used Car?
You can depending on your dealership. At CarWorld in Hawthorne, CA, you can have your car appraised and get its True Market Value® by submitting details about it online. We’ll determine your vehicle’s value based on its make, model, year, and style, as well as its condition and mileage. If you’re looking for a trade-in car dealership near you that can help every step of the way, you’ve come to the right place.
We stock a huge inventory of pre-owned vehicles. All are inspected to ensure reliability and covered under a comprehensive warranty. We’re also committed to helping you find used cars that suit all your wants and needs, and to offer the best value. You can be sure you’ll get the best price. For more information on selling or trading in a vehicle, scheduling a test drive, or applying for financing, find the help you need online or call us at 833-219-9951.