How vehicle trade in works
If you’re looking to buy a new car and need to sell your existing one, a vehicle trade-in is probably one of the easiest options. Are you undecided on whether to sell the car privately yourself, advertise it in the classifieds, or trade it in? Here we explain the advantages and disadvantages of vehicle trade-ins and how it works.
Advantages
If you’re in a hurry to sell your car, trading in your vehicle takes just a few days. For busy people it’s also the most convenient.
Dealing with one party, the car dealer directly means there is less paperwork for you. The dealer will handle the entire transaction from beginning to end.
Disadvantages
When shopping around for a car you want quality, value, and choice.
When you opt to trade-in your vehicle,you’re limited to buying a vehicle from that specific dealership.Therefore, it makes sense to trade-in your car at a car dealership that offers you a wide range of vehicles to choose from.
How it Works
Calculating the Price You Get
When you decide to trade-in your existing car, your car will be evaluated for any dents, scratches and other cosmetic conditions.
You will be offered an amount for your vehicle that is in line with the vehicle’s M&M (Mead &McGrouther*) book value.
Condition + Market Popularity + BookValue = Price
Getting the Most Value out of Your Trade-In
If the car you intend to trade-in is still under finance and the settlement value (the final amount still to be paid) is higher than the price you have been offered, then you need to pay in the difference from your savings.
The good news is that if a dealer offers you trade assistance (also known as deal assistance) you can add that offered amount to your vehicle purchase. This deal assistance amount helps to cover some or all of the settlement value of the new vehicle.
When you buy a used car from Auto Pedigree, you get quality, value, and choice from a wide variety of vehicles at dealers nationwide. Take advantage of our deal assistance promotion today and get more value from your trade-invehicle.
*Mead &McGrouther is a publishing company involved in the publication of information of Passenger and truck specification namely Auto DataDigest available in book form on the South African market. They also publish the monthly issue of the Auto Dealer's Guide which is extensively used by the Car Dealers throughout South Africa.
Disclaimer:
Auto Pedigree and the authors make no representations as to the accuracy or completeness of any information on this site or by following any link on this site. Auto Pedigree and the authors will not be liable for any errors or omissions in this information nor for the availability of this information. Auto Pedigree and the authors will not be liable for any losses, injuries, or damages from the display or use of this information
