Trading your car in and applying its value to the purchase of a new car is the easiest way to get rid of your current ride. There’s no need to sell it yourself, craft a used car listing, deal with potential buyers and the general hassle that goes with it all. It’s obvious why trading in is such an appealing option. But still there may be a bit of doubt.
We’ve partnered up with our friends at Motus to list all the things you need to know about trading in your car.
The first thought on your mind might be how exactly will your car get assessed and valued. Well, when taking the vehicle to the dealer to be assessed it’s important that you provide as much information as you can. Determine the current book value, as this may give you an idea of what it’s worth but do remember that this will only be an approximate value and the final price offered will be dependent on various criteria.
The following are important bits of info you must have:
- Vehicle make and model (exact variant)
- Is the vehicle still financed and how much do you owe?
- Full-service history – it’s a good idea to keep all service and maintenance receipts
- Any existing warranty, service, and maintenance plans still in place – if there is any time remaining on your service plan, maintenance plan or warranty, this will help add to the value of your vehicle
- The spare key and other items that came with the car – pin numbers for the audio systems, Bluetooth device and info referring to immobilisers and alarm systems
The dealership wants to know how loved the vehicle is, so it’s a very good option to make sure your car is clean. A clean and well looked after car will attract a higher resale value.Other things the valuator takes into consideration are:
- Popularity of car make and model
- Year of first registration
- Mileage (shouldn’t be more than an average of 25 000km per year)
- Vehicle condition
- Any additional accessories or non-standard specifications
- The exterior colour of the car may also play a role – Tip to consider: white cars have the best resale value and lowest insurance premiums due to their visibility on the road.
The good thing is, our friends at Motus and their dealer network has a unique electronic valuation system, allowing them to put a report together which includes the verification of the make and model of the car. They also establish the correct value and can offer you the best price, thanks to their dealer network which covers all the major car makes and models.
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