What are the factors that affect my car’s trade-in value?
A car can be a very personal item to individuals. It can remind us of the good times with a significant other or the one time you and your closest friends road tripped across the country spontaneously. After a while, it is time to trade in for a new car that will create more lasting moments. This begs the question, what are the factors that affect my car’s trade-in value? Keep reading to learn more about how to get the most value for your car.
How many miles are on your car?
This is going to be one of the biggest factors in determining your car’s trade-in value. The higher the miles on your car, potentially more maintenance will have to be done to keep the car running. A car with over 100,000 miles will need more maintenance than a car with 45,000 miles.
Speaking of maintenance, when was the last time you had an oil change? Do you let your car run for a long time with the check engine light on? Taking care of these little things right away and keeping your receipts will help prove that your car was properly taken care of.
What kind of condition is your car in?
You think your car is in mint condition, and it still looks like the day you got it, right? This might be the case, but remember the one time you spilt coffee in your lap on your way into work? Does the stain still show a little? We have all been there, life happens. People, want to purchase cars that have been well taken care of and that are clean.
Does your car have a few minor dings and dents that you do not notice anymore? You might not mind them, but someone looking to purchase your car might mind. A ding here and a dent there might mean the difference between a “good” and “fair” condition rating on your car.
What options came on your car?
Some things that will enhance the trade in value of your include power windows and locks, automatic transmission, anti-lock brakes, and cruise control. The dealer might give you a little more for the trade-in of your car knowing that the purchaser might pay a little more for these features.