Why trade-in your used car or truck?
When you trade your current used automobile you are asking in effect for the dealer to estimate the value of your vehicle and apply this to the new vehicle's cost.
Generally a lien search is completed by the dealer to make sure that the title is free and clear. This aspect protects you and the dealership in making a legal and fair trade.
Why is it beneficial to trade-in?
Trading in a used vehicle can remove much of the worry about selling the vehicle privately. There may be costs of advertising and your time spent with each potential buyer. When you trade your used car or truck with a dealership, the dealership assumes all responsibility for the automobile. This eliminates any questions down the road or problems that might occur when a private buyer returns complaining of issues with the vehicle. When trading at a dealership you could qualify for a tax savings or special incentives from the factory or government that you would not receive if sold privately.
Why decide against trading-in?
At times it may be advantageous to sell privately. For example, you may have a collector vehicle or a limited edition vehicle that is desired in the marketplace. There comes a time when an older vehicle has little value for trade-in purposes. In cases like this a private sale may be the best option as many first time buyers are looking for a low cost starter vehicle.
What happens to a trade-in?
Some trade in vehicles will be refurbished by the dealership and resold with specific warranties. On occasion a trade-in vehicle will be brought to auction where secondary parties who deal in second hand vehicles will purchase and refurbish.
How much can I expect to get?
Most dealerships have a standard book price guide that is used throughout Canada to access a used vehicle. However, many factors determine the price of a trade-in. For example: the condition, the model, the mileage. Dealers note whether the maintenance of the vehicle was completed at the dealership as this gives a vital history of care of the vehicle.
Regardless of selling private or with the dealer you are in the driver seat to research what your vehicle is worth. Auto trader provides an excellent tool to access the current fair market value of your automobile, http://www.autotrader.ca/general/valuefinder/valuefinder.aspx As well, you can drop into our store and we will gladly give you a free estimate of your vehicles value.
Knowing your used vehicles worth will sincerely help you decide if a trade-in or a private sale is your best option.
London City Chrysler has an excellent selection of quality new and used cars for sale and we invite you to come visit our showroom.