You also need to keep in mind you are determining trade-in value (wholesale value) not retail value. The trade-in value of a car is basically the amount someone who plans to resell the car will pay it. Most common place is to look up your trade-in’s value on line at sites like Edmunds or in the Kelley Blue Book or the National Auto Dealers Association (NADA) pricing guides. These ballpark figures, however, because it’s easy to overrate your car’s condition and so many other factors (such as local market conditions) determine what it is worth to the dealership.
Your Trade-in’s Appearance
Remember: first impressions count. It never hurts to spend a little money to have your trade-in professionally cleaned. Providing the dealership with a good impression can help a lot with obtaining a higher appraisal value. Often times a messy car is equated (possibly wrongfully) to a vehicle that has been neglected mechanically.
Also, completing minor maintenance and repairs on your trade-in, such as lube, oil and filter changes offer a good impression at the time of appraisal. Quite often people are led to believe that they should fix every problem with their vehicle before taking it in to the dealership. If the repairs are minor, go ahead and fix them. Any major repairs, however, should be avoided. A dealer will take the reconditioning of your trade-in off the price but keep in mind that it cost them a lot less than it will cost you retail. It is better for them to take $500 off the trade-in value for a broken A/C instead of you paying $1,000 to have it fixed yourself.
Don’t forget your tires. Mismatched tires, either by type or by size, take away from the attractiveness of a car or will cause it to take a hit in appraisal value. Also, tires that are worn can indicate poor maintenance: tires that are worn unevenly often indicate that there’s been damage to the frame, or that the alignment is shot either of which will lessen the value of the used car.
