If you’ve got a car, you know that you probably won’t have it forever. While you could sell it, it might be smarter to trade it into a dealer. Below is a brief guide to the benefits of trading in a car.
Let’s go ahead and get the obvious out of the way—trading up means that you’re getting a newer car. This is usually fantastic because new cars come with all the bells and whistles that your current vehicle doesn’t have. Is this a good reason to trade in your car? Depending on your financial situation, it might be. Sometimes, it’s just nice to get something new.
Getting a Better Deal
Beyond the simple joy of having a new car, trading in can actually help you to secure a better deal at some dealerships. While they may not have a lot of room to work with on sticker price, some dealers are willing to drastically raise their offers on a trade-in if that’s what will seal the deal. This means you get more money for your car and you’ll get a better vehicle out of the trade—definitely a win-win for most drivers.
Dealing with Deprecation
If you’re looking at trading in from a purely financial point of view, one of the things you’re helping yourself with is stopping the slow slide of depreciation. As any good driver knows, a car loses a great deal of its value as it goes off the lot. The car will continue to lose value as time and miles go by, so trading in your vehicle to a dealer like Young Automotive is actually one of your best hedges against losing money. The newer your car, the more it is worth and the less you’re losing as you go. Is that fair? Probably not, but that’s reality.
Finally, trading in your vehicle might be the best way to stay safe on the road. We’re not just talking about getting rid of cars that have obvious flaws, either—some newer models have better safety features that just weren’t available on older cars. If you trade in on a recent model, you might get a feature like a rear-view camera or even parking assist. This might even help you to reduce your insurance rates!
If you’re thinking about trading in your car, do it sooner rather than later. It will get you into a newer, safer vehicle and help you to bring down the price of your new car. Trading in is just a process that makes sense.