When it’s time to buy a vehicle, many people decide to trade their old one in. But how much should you expect to get from your old vehicle? What exactly do dealers look at, and how do they decide how much to offer you? Knowing these things can help you decide how much vehicle you can afford. Some of the big things that a Cumberland, MD Auto Service and dealership will look at when deciding the value of your trade in are as follows.
Current Market Value
The big thing a dealer will look at is what your vehicle is worth on the current market. This number will come from what vehicles like yours are selling for in the current market, as well as from other sources like the Kelley Blue Book, which assigns value to used vehicles based on their age, condition and other factors.
A good appraiser can tell if your vehicle has been in an accident, just by the look of the paint. If your vehicle has been repainted or touched up, he or she will be able to tell whether it was done for cosmetic reasons, or to match the existing paint after repairs were done. What he or she finds will help determine how much your car is worth. As you can probably guess, vehicles that have been in accidents won’t be worth as much as ones that haven’t.
Interior and Exterior Condition
Your appraiser will also take a good look at the condition of your vehicle, both inside and out. Dings, dents and other body work will need to be fixed before the dealer can resell your vehicle, and that cost will bring down your trade in value. The same goes for ripped upholstery, dirty carpet, weird smells – all these things cost money to be fixed and/or cleaned.
Tires and Mechanical
Lastly, the Cumberland, MD Auto Service appraiser will look at your tires and the engine. If your tires need replaced, that will bring down the value of your trade-in. Likewise, any engine work that is needed will bring down your trade-in, as it will cost the dealer money to get your vehicle into sale condition.
After examining all these aspects, the appraiser will be able to determine how much your trade in is worth. From there, that amount will be deducted from the cost of the vehicle you hope to purchase.
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