Are you wondering if now is a good time to trade in your car? There are a lot of variables that factor into a trade-in price. Dealerships consider these factors and will offer you a price. Trading your car into a dealership is a convenient way of getting rid of an old car and buying a new one. The dealership handles nearly all the paperwork and the headaches, and you can often apply the trade-in value to the cost of purchasing your new car. Here are some issues to consider when it comes to trading in your car!
The Most Wonderful Time For a Trade-in
It may surprise you to find out that your car trade-in may have more value at certain times of the year. This is because trade-in values can rise and fall with the demand for used cars. Many people who are on a budget look for used cars. When stocks get low, dealerships are willing to pay more. Since people buy more cars during the spring and summer, that means spring and summer trade-ins can earn more.
Loans and Age
If you still owe on your potential trade-in, you’ll need to know the remaining loan amount. It does not make sense to trade in a car for a value less than the remaining loan amount.
Additionally, the age of your car matters when it comes to trade-in value. You can maximize your value if you owe very little to nothing on a car under five years old. But don’t think that means you can’t trade in an older car. Depending on your model, the dealership might offer more than you think.
Should You Sell or Trade?
There are pros and cons to both selling and trading in a car. You should consider your circumstances when deciding what to do. When you sell your car yourself, you have more control over your asking price. However, you are responsible for the paperwork involved. Also, you will need to make time to show the car and allow prospective buyers to test-drive.
When you take your car to trade it in at the dealership, the process is speedy and efficient. The dealership will offer you a value, and if your timing is good, that value might be significant.
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See What Red McCombs Can Do For You
If you are looking to trade-in your car, there is no better time than right now. Red McCombs Superior Hyundai in San Antonio, Texas, is paying top dollar for trade-ins. You can call us and schedule a time to bring in your vehicle, and we will give you a fair value. We want to help you get into the car of your dreams — and your trade-in could be the car of someone else’s dreams. Come see us today.