Trading in a car is the first step in buying a new car. People will trade in a car so they can pay down the remainder of their loan and get something new.
Contact a Dealer
Contact a dealer and ask if they accept trade-ins.
Find the Blue Book Value
Find the Kelley Blue Book value of your car at KBB.com, taking into account all the options your car has. This includes, the mileage, custom options and other factors listed in the Kelley Blue Book.
Get a Dealer Appraisal
Then ask the dealer to appraise the trade-in. You must bring the car to the dealer to have this done. They will have a mechanic look it over and see if there is anything wrong with it, then decide on a value based on what they can resell the car for at auction or on their own lot.
Negotiating the Trade-in Price
The dealer will offer you a trade in-price based on what the car appears to be worth. Keep in mind your Kelley Blue Book value when the salesperson quotes a price for you. Negotiate by pointing out the car's selling points, especially the custom options and additional features that aren't standard on your make and model car such as turbo chargers, suspension packages, a sun roof and other desirable features. Remember that most trade-in offers are negotiable.
Settle on a Final Trade-In Price
Settle on a final trade-in price. The dealer may offer you a higher trade-in value in exchange for a higher interest-rate loan, or a higher price on the car. If this is the case, decline the higher trade-in offer. Make sure the car price and loan terms do not change if they give you a higher trade-in value.
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