How a Dealership Decides Trade-In Value
A dealership such as ours can easily appraise your vehicle and come to a value on how much it’s worth, but where exactly does that number come from? If you’re wondering how a dealership arrives at a trade-in value, and possibly what you can do to help improve the price you may be able to get for it, we’re here to help. Read on to see the top considerations that go into creating a vehicle’s trade-in value, including its year, make, model, trim, condition, extra features, kilometres driven and the current market. It’s a great time to trade in your vehicle, and you can easily do so here at Davey Auto Sales.
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Year, Make, Model & Trim
This may be one of the most obvious ones, and one you can’t do anything about after initial purchase. More recent year models will, no doubt, be valued higher than a model year a few years old. Popular makes are good at retaining their values over the years, such as a Honda or Toyota, which are popular on the resale market. Specific uncommon or limited trims as well may be able to fetch a higher value due to their scarcity.
Condition of the Vehicle
This is another quite obvious one, how is the condition of your vehicle? Whether that be the interior or exterior condition, or the status of the internal parts, this all places a great role in determining value. The better condition the more likely you are to get a value that you deem acceptable, conversely it should be understood why a vehicle in poor condition will not fetch a great value. Luckily, this is a factor you can help fix, whether it be getting repair work done or by receiving professional detailing service.
Extra features on a vehicle can sometimes positively or negatively affect a vehicle. Depending on any additional vehicle accessories, their function, quality and condition, it may help increase the value of a vehicle. Conversely, though, if a vehicle has been customized to a more extreme degree and is quite far from its factory quality, it may not be valuable to a wide swath of people, and thus see its trade value diminish.
Kilometres driven on a vehicle gives a great look on the life of a vehicle, whether it’s just starting out its journey or if it’s been a veteran of the roads. Thus, a vehicle with less amount of kilometres on it will fetch a higher trade-in value (granted, with our other factors considered) than one with a lot of mileage on it. Here at Davey Auto Sales, both in person and online, you can clearly see the mileage posted so when buying you know what you’re purchasing.
This is one that you don’t have any control over, but can change with the times. Currently, we’re living in one of the best times to trade in your vehicles, with values being at an all time high. Why is this? The new vehicle market is still struggling to supply all of the inventory demanded, thus many (both drivers and dealerships) are looking to alternate options, such as used vehicles, and thus their demand has greatly increased. Take advantage of the current market and utilize its boon to your trade-in value.
Trade In Your Vehicle at Davey Auto Sales
Are you looking to find out what your trade-in may be worth? Our Guaranteed Trade Value tool on our website makes it easy for you to find out such a value. We make the entire process as simple as can be, from getting your trade-in value to actually completing the trade-in process. Our team will even help you shop for your next vehicle. Our dealership has been experts in the used vehicle market since 1979, so trust in us to help you get a great value for your trade-in!