How Do Dealerships Value My Trade?

The way dealerships value your trade-in is simply based on the type of vehicle you drive. With the help of a professional appraiser, they can determine just how much your car is currently worth.

You’ll have to start by providing some basic information about your vehicle. Just some of the details the appraiser will need include:

• Make of your vehicle
• Model of your vehicle
• Trim level of your vehicle
• Production year of your vehicle

Additionally, you’ll need to provide the mileage count on your vehicle’s odometer. You’ll likely have to provide such additional information about your odometer reading as its accuracy, as well as if it’s ever been reset before.

To help the appraiser better value your trade, you’ll also have to fill them in on the maintenance or repair history of your vehicle. If your vehicle is still in need of repairs, it may affect its trade-in value.

Once the appraiser has as much information about your vehicle as possible, they’ll be able to compare your vehicle against similar models to determine its current market value. Using both new and used listings, they can find exactly how much your car is currently selling for, as well as how your particular model deviates from that price.

Clearly, the condition of your car plays a major role in how much it’ll be valued at. A vehicle with little to no damage and no current need for repairs will likely trade for much more than one that’s either in need of service or has unattended damage.

With that in mind, there are some fairly simple steps you can take to improve the overall trade-in value of your car. Some of those include:

• Have your car detailed
• Repair exterior damage
• Clean both the interior and exterior of your car
• Ensure its maintenance record is up to date
• Attend to any operational issues

By ensuring your car is in the best possible shape, you may be able to get more in return. However, be wary, as some dealerships may not take into account the money you’ve spent on cleaning or repairs.

Before you begin the trade-in process, you’ll likely want to have a fixed number in mind. This can help you determine whether or not you’re getting a fair offer from a dealership, as well as if they’re even offering you the market price.

You’ll also likely want to visit multiple dealerships to field a range of offers. This way, you can compare one offer against another and, hopefully, get as close to your desired amount as possible.

Luckily, there are plenty of online resources to help you value your trade-in beforehand. For example, our Value Your Trade tool does all the work for you. Just provide the same information you would to the dealership, and our tool can help you determine how much your car is worth.

Otherwise, you can always get in touch with our team of financing experts to help you find the most accurate value for your trade-in.