Perhaps one of the biggest times in the ownership of your vehicle is knowing “when is the best time to trade?” Is it best to trade it in after a specific time? Is there such a thing as too many miles? Does it have to be mint? It probably will not be a shock to figure out that there isn’t a one-size-fits-all answer. Yet, we do have a few tips to help you decide when to trade in your vehicle.
This is typically the first question owners ask themselves. Most folks think the only way to receive top dollar for their pre-owned car is to sell it themselves versus trading it for another vehicle. Still, there are a couple of factors to look at when thinking about if you should sell your vehicle instead of trade it in.
Selling a car can take many weeks or longer; particularly if your vehicle is in less-than-ideal condition. You would have to take care of every facet of the sale procedure, from posting an advertisement to coordinating test drives, to arguing the price, and everything in between. On the other hand, trading in a vehicle usually occurs at the time you purchase your new car.
Usually you would be responsible for providing the buyer with the required paperwork, such as the title and registration. Trying to do everything by yourself may be a frustrating and long process if unexpected challenges like a lien, are connected to the paperwork. We are ready to do all of the paperwork, including surprises.
One of the biggest benefits to trading in your car is the possible tax savings offered in states with a state sales tax. For these states, there is a tax credit applied to your new car’s sales tax if the buyer trades in a car at the same dealer they buy the new car. In short, the taxes are only applied to the price difference once the trade-in price is figured into the final price. The tax credit savings can easily reach up to thousands of dollars, depending on what vehicle you are purchasing.
There are many schools of thought on this, especially since late model vehicles are specifically built for high mileage usage. Yet, there’s a nearly universal agreement of these three mileage ranges to think about when trading in your car:
This is the time when the majority of new car warranties end. Conversely, this is when the first replacement of ‘wear’ components, like tires or brakes, are typically done on most cars. Your vehicle depreciation will usually start to accelerate more quickly after this milestone, so the nearer your vehicle is to these miles, the higher your trade-in value options will likely be.
Depending on usage, a vehicle that reaches this milestone will generally be three to five years old and most likely has been well maintained. As the miles pile up, the value gets lower so car owners need to take this into account when considering their trade-in.
Thanks to advancements in modern technology, this mileage is no longer the automotive death notice that it was before. However, the more miles of your car, the greater the depreciation in all but the rarest cases. Anything within this mileage can still have value even though it might not be in mint condition. The looks and mechanical condition of your car is definitely looked at more closely as the miles increase on that odometer.
Lastly, an important component of trading in your vehicle is being prepared for the trade-in appraisal. These ideas are not the only ideas, to be sure, but they will help you get the most value out of your trade-in.
This ought to be a no-brainer, but many people think that presenting the car ‘as-is’ is an honest approach to a trade-in appraisal. While we do not advocate hiding problems or blemishes (FYI, they will see through those attempts regardless), it’s always a good idea to clean up your vehicle to the best of your ability before bringing it in for evaluation. This includes tossing all debris and trash from inside the vehicle (including the trunk), vacuuming and washing the interior and exterior, and perhaps even doing a nice detailing. Think of the appraiser as a buyer of the vehicle and tidy up the vehicle.
We get that automotive repairs can be overwhelming, especially for major mechanical concerns. However, if it is possible to fix minor dings, chips in the paint, and cracks in the various windshield, mirrors, and windows, all of those cosmetic fixes will significantly help improve the price of your trade. When possible, we recommend repairing any mechanical issues the vehicle may have. The better the condition of the vehicle, the more money you will get for your trade-in.
If you’ve decided that trading in your vehicle is the best option for you, then we recommend coming to the dealership with all of your documentation, which includes the title (if it’s in your possession), registration, any maintenance receipts you have, and keys you have for the car. Show up ready to trade-in your car and you won’t suffer any delays in driving home in your new car.
If you’re wondering where you can trade in your car for another car, Kia of South Austin is the right place. We make the trade-in process simple and can get you back on the road in a new car today. Schedule an appointment online or visit our dealership to get started.
Friendly, Efficient, reliable, and received professional service. My car runs like new again. Highly recommend!
Very cooperative and professional staff. I am satisfied with service. They provide good facility at waiting area and timely service.
My advisor was very prompt very informative kept me in tuned with my vehicle issues it was a nice experience
Great fast service on replacing my Kia fob today. After ruining my fob in the wash, I purchased a new fob online, and brought it in to be re-programmed to match my existing fob. Mason met right away and told me they could get it done in an hour. Sure enough, an hour later I had my working fob!
Quick, thorough, courteous, and inexpensive! Definitely my go-to peeps! Very trustworthy and easily accessible.
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