Recent reports have shown that many Americans are trading in their cars to get an upgrade or something newer. Trading in a vehicle is a great way to obtain a newer model or move up to a higher-end vehicle without having to save up a large sum of money. The trade-in process typically works like this….
To start, the customer must bring their current car to the dealership or other car trading facility in order to get an appraisal of the trade-in vehicle. A vehicle’s worth is determined by age, condition, mileage and other factors. If the customer does not accept the offer from the dealership, they can look for a buyer on their own.
Once the appraisal is complete, the customer and the dealer will negotiate the trade-in value and deduct it from the price of the new vehicle. In some cases, the dealer may offer an additional discount as an incentive.
After the deal is made, the customer will sign paperwork and the dealer will take ownership of the vehicle. The dealer will then sell it at an auction or use it as part of their inventory.
For many, trading in a car is a great way to get a new car without having to incur a lot