Many people decide to trade in their vehicles at some point in their lives. Whether you need a newer car or just a more practical vehicle, trade-ins have been a usual way to do business in dealerships. However, most people fail to realize what the best moment to trade their car is. Apollo Auto invites you to keep reading as we discuss more about the best time to trade in your vehicle to a car dealer in New Jersey.
Knowing when to trade in your vehicle is a matter of optimizing your sale. There are some things you should look for when deciding to trade your vehicle in. Here are some tips to help you determine the best time to trade in your car.
To maximize your trade-in, you should check your vehicle’s trade-in value. There are different ways you can achieve this. However, one of the easiest ways you can check how much is your car worth is by consulting the Kelley Blue Book (KBB). They offer both printed and online price guidelines for both new and used cars for sale. All you have to do is provide the necessary information, such as model, make, year, and mileage, and you can obtain the current market value of your car. Knowing how much your car is worth before trading it in can give you a better idea of how much leeway you have to get a new set of wheels.
Timing plays an important part in trading your vehicle. The perfect time to trade in your car is when the value of your car is similar or better than what you owe to the bank. This means you can break even, or take advantage of its value, if it surpasses the amount owed to the bank.
Dealers rely on selling their units as fast as they can to avoid an inventory pileup and make room for new inventory. Close to the end of the year, dealers are usually more open to negotiating the price of their existing inventory to close a deal and get new cars in. This is the perfect moment to make your trade-in and get a good deal.
There are several benefits associated with trading your used vehicle. It is possible people feel hesitant about trading their vehicle, thinking they will obtain nothing in return. However, you can also get benefits that can help you in your next car purchase. For instance, trading your car can help you with your future tax returns. By trading in your car, you won’t have to pay taxes based on the car’s full price. Instead, you’d be paying taxes on the difference between the trade-in value and that of the new vehicle.
Another benefit of trade-ins is financing. Most people who are purchasing a car depend on auto loans. People have the option to either go through the financing process at the dealer, or by obtaining a loan from a banking institution. Most of the time, people can find more and sometimes better options with a car dealer, including car dealers for bad credit.
When you are out there looking to trade in your vehicle, it can be difficult to know exactly what to look for. Experienced car dealerships know how the industry works. This can work in your favor since they may already know how much is your vehicle worth and they can point you in the right direction.
As we mentioned before, you can always find out if you are offered a fair price for your vehicle by consulting a reputable source of information, such as the Kelley Blue Book. Most car dealers are also willing to negotiate the price to close a deal and sell you a vehicle. Knowing necessary information about your car and choosing the appropriate time to make your trade-in can help you obtain a great vehicle at a fair price.
For over two decades, Apollo Auto has been proudly serving residents from New Jersey and the surrounding areas. We pride ourselves on offering nothing but top service to all our clients.
We offer a wide range of used vehicles, both foreign and domestic, at competitive prices. All of our vehicles go through a tough certification process that includes a 360-degree, top-to-bottom inspection to make sure you get a dependable, high-quality car. To learn more about our services and how we can help you obtain the used vehicle you want and need, call Apollo today at (856) 347-5091, or contact us online.