When you shop for a new auto or used vehicle, trading in your existing vehicle is one of the best ways to save big. Trading in allows you to get cash back for your current vehicle and apply that directly to your next purchase. This helps you save on your down payment, reduce the size of your financing to lower your monthly payments, or both. Trading in your existing vehicle can make the already fantastic offers at Granger Chrysler Dodge Jeep Ram even more affordable.

What Determines Your Car's Worth

blue Jeep Cherokee driving down the road in Orange, TX

Image via Flickr by Automobile Italia

When preparing to trade in a vehicle as part of a new or used vehicle purchase, it's beneficial to know how a dealership assigns a value to your vehicle. There are several components which account for the value offered when you trade in your auto, with the most important considerations being:

  • Initial Cost: The first consideration when determining the value of the vehicle you want to trade in is how much it initially cost. Although different vehicles depreciate at different rates, generally a more expensive vehicle is likely to be worth more at trade in than a less expensive vehicle with otherwise similar usage.
  • Age and Mileage: The older a vehicle is, the more likely it is that its value has depreciated. While this is an important consideration when valuing your trade-in, mileage is even more relevant, as an older vehicle that has been used over a shorter distance may hold more value than a well-used newer model.
  • Usage: While how far you have driven your vehicle is important when assessing trade value, it's also important to consider how you used it while doing so. A vehicle used to commute from work will likely experience less depreciation than a vehicle used to carry heavy cargo or tow large loads.
  • Appearance: While a vehicle doesn't need to look pretty to drive well, many car shoppers prefer their used vehicles to still look as new as possible. For this reason, the more well-maintained your vehicle is when you trade it in, the higher trade value you are likely to receive for it.
  • Market Conditions: Although many of the factors related to the value you receive for your trade in depend on your vehicle and how you treat it, that is not the case for all of them. When you sell can also impact your trade-in value, with trade-ins made during positive selling conditions being more valuable to the dealership, and allowing you to get more for your trade-in as a result.
  • Where You Go: Choosing the right buyer for your trade-in vehicle is a critical component in getting an excellent price. At Granger Chrysler Dodge Jeep Ram, we are proud to offer the best trade-in rates in Orange, Texas. When you trade in with us, you can be sure you're getting the best value for your vehicle.

Before taking your vehicle in for trade, consider three factors and how they apply to the value of your car, truck, or SUV. This can help you generate a more accurate expectation of the value you deserve in trade, so that you can fairly assess any trade-in offers in order to determine if they represent fair value.

How to Maximize Your Trade-In Value

If you own a vehicle that you are currently looking to trade, or that you intend to trade in the future, it's important to know how to maintain its value during ownership and to maximize its value at the time of trade. Follow these tips to minimize your vehicle's depreciation and keep its value as high as possible. Whether you buy new or buy a used vehicle, this can help you get an improved trade-in offer.

  1. Get routine maintenance: Vehicle maintenance is a critical responsibility as a car, truck, or SUV owner. Not only does it help to keep your vehicle performing at its best, allowing you to get the maximum value out of it, it also helps to maintain your trade-in value by identifying small problems before they have the chance to grow into bigger ones which harm the trade-in value of your vehicle.
  2. Schedule prompt repairs: If you discover a problem with your vehicle, either because a warning light comes on or you notice unusual behavior from your vehicle when it's in use, it's important to schedule repairs quickly. This allows trained professionals to assess your vehicle and fix any problems before they cause increased damage.
  3. Don't smoke in it: A vehicle that has been smoked in may take on the smell of the cigarettes, which can decrease the number of potential buyers for the vehicle. By not smoking in your car, truck, or SUV, you can broaden its resale potential and increase the trade in value you receive.
  4. Park in a garage: Protecting your vehicle from the elements as often as possible is an excellent way to minimize wear-and-tear and maintain its value. If you have access to a garage, parking your vehicle in it can protect it from the elements.
  5. Clean it up: When taking your car in for a trade-in assessment, it's beneficial to clean it thoroughly before you do so. Cleaning the exterior of your vehicle, vacuuming up any debris, and cleaning up interior stains allow our staff to see your vehicle at its best and provide you with the highest potential value in trade.

Trade-In with Granger Chrysler Dodge Jeep Ram

If you're ready to shop for your next vehicle and trade in your current one, the team at Granger Chrysler Dodge Jeep Ram are here to help. Our experienced staff can answer any questions you have, either in person, on the phone, or when you use our online form. They'll work with you to find a vehicle that you love at our fantastic prices, secure unbeatable financing, then provide our unbeatable trade-in value on your existing vehicle to make the deal even more appealing. We're excited about the chance to help you trade in for your next vehicle today!