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How to Get the Best Deal on Your Trade-In

Let’s have a look at how to get the best possible deal on your trade-in...

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So you’ve weighed up the pros and cons of selling your car privately or trading it in to the dealer of your new car, and you’ve decided on a trade-in. The good news is this convenient method means no advertising, no stressful drawn-out process, no matching sales wits with potential buyers, and no overwhelming mountain of paperwork. Also in your favour is the fact the cost of your new car becomes largely irrelevant – what really matters is the price difference the dealer offers you between your old car and new car. Let’s have a look at how to get the best possible deal on your trade-in...

STEP 1: LEARN YOUR CAR’S REAL VALUE

It’s easy to become attached to your old car, which has been everywhere with you for possibly quite a long time. Unfortunately, sentiment counts for nothing when it comes to extracting maximum value for your pride and joy. Being realistic will help you avoid frustration. Online classified ads show you what other sellers are asking for your make and model with a similar age, condition and number of kilometres. While never a perfect science, this will give you a sense of what you can reasonably expect. Note that dealer prices tend to be a little higher, and you’ll likely be offered between 10 and 20 per cent less when you go for your trade in.

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STEP 2: PREPARE YOUR CAR FOR ACTION

You now have a fair idea of your car’s market value, but it’s still important to make it as attractive and presentable as possible in order to receive the best price. You want your car to appear well looked after. Make sure it’s clean, tidy and free of miscellaneous personal items. For a newer car, it might even be worth arranging a professional detail. Ensure the car is roadworthy and strongly consider fixing any minor repairs in advance. If you don’t, the dealer may well take more off the value than it would have cost you in the first place. Also keep in mind that a comprehensive logbook with evidence of regular maintenance, servicing and repairs will make your car more valuable.

STEP 3: NEGOTIATE LIKE A PRO

A successful trade-in relies on your car presenting well to the dealer and your commitment to negotiation. You should always shop around for at least three offers from different dealers. Remember, trade-in value relates purely to the changeover price – the amount you actually have to pay – regardless of how the dealer values your old car or what they offer on your new car. This means your old car actually provides you with bargaining power, so don’t be afraid to walk away if the price isn’t right.

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HYUNDAI GUARANTEED FUTURE VALUE PROGRAM

The Hyundai Guaranteed Future Value Program offers a smarter way to finance your new Hyundai with a plan that changes as your life does. Enjoy the flexible freedom of choosing what you do when your contract comes to an end: trade your car in for a brand new one, keep it, or return it. The choice is yours. Learn more about the Hyundai Guaranteed Future Value Program.

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