When it is time for an upgrade, most of us look at our current vehicle as a down payment for the next one. Trading in your old rig at the dealership is convenient, but it can also be a spot where you lose out on a lot of money if you are not careful.
If you want to make sure you are getting a square deal on your trade-in, you have to do a little homework before you pull onto the lot. Here is how to help make sure the dealer gives you what your vehicle is actually worth.
Know Your Number Before You Go
One of the biggest mistakes you can make is asking the dealer, “What will you give me for it?” without having an answer of your own. Use tools like Kelley Blue Book or JD Power Value to look up your vehicle’s “Trade-In Value.”
Be honest about the condition. If it has a few dings from gravel roads or some wear on the seats from the dogs, mark it down a bit. Having a realistic number in your head gives you the confidence to negotiate and say no if their offer is too low.
Clean It Up (But Don’t Overdo It)
You do not need to spend hundreds of dollars on a professional detail, but a good wash and a thorough vacuuming go a long way. A clean truck shows the dealer that you took care of it. First impressions matter to the guy appraising your car just as much as they do to anyone else.
Keep the Trade-In and the Loan Separate
Dealerships love to “bundle” everything together. They might offer you a great price for your trade-in, but then hike up the interest rate on your new loan to make up for it.
This is why getting pre-approved at Sunlight FCU is so important. When you already have your financing locked in with us, you can negotiate the trade-in as a completely separate deal. It keeps things simple and keeps the dealer honest.
The Sunlight FCU Advantage
As a member of Sunlight Federal Credit Union, you have a partner in your corner. If you are not sure if a dealer’s trade-in offer is fair, give us a call. We can look up the values with you and help you decide if it is better to trade it in or try to sell it yourself for a little more cash.
Our goal is to see you in a reliable rig with a payment that makes sense. Whether you are trading in a car, a truck, or an SUV, we are here to help you navigate the process.
Let’s work together to see what your rig is worth. Apply for your pre-approval online or stop by a branch today.
