How to Trade-In Your Car Successfully

Trading in your car can be a great option if you're looking to upgrade to the next model, or change from your current vehicle through a hassle-free process. If you already have a relationship with your car dealership or preferred brand and don't want to go through a third-party like an auction house or online site, trading in makes perfect sense.

If you're considering going down the route of a car trade-in, it's important to understand the trade-in process so you know what to expect. In this blog, we'll cover a few tips and tricks to make sure that you get the best deal possible for your car, and walk away feeling happy with your trade.

The Trade-In Process

The car trade-in process will vary from dealership to dealership, but for the most part, this is what you can expect from start to finish.

1. Get in touch with your dealership. This could be through calling and asking for the next steps for a trade-in or alternatively, a lot of good dealerships offer online forms you can fill out to get a valuation without having to pick up the phone. Here's a good example of how this looks from one of our Suzuki dealerships.
   
   
2. Decide whether you’d like to sell your vehicle outright to the dealership or trade-in for another car. Not all dealerships will offer the ability to sell your car directly to the dealership without trading in for another model, so make sure to check in on this if you're looking to make a quick sale. On the flipside, if you'd like to trade in for another model, let your dealership know this so they can help you to find a model you like and ensure it's in stock for the trade-in.
   
   
3. Shop around. Different dealerships will be able to offer different deals, valuations will vary slightly and there will be different new cars to trade-in for depending on where you go. To make sure you’re making the right decision and for peace of mind, we always recommend checking in with a few local dealerships before making your final decision.
   
   
4. Head to your chosen dealership. It's time to make the trade! Once you arrive at the dealership, they’ll draw up the paperwork for you, asses your car and arrange for the car you want to trade up to. You'll then be given a date to arrive and pick up your new vehicle.
   
   
5. Pick up your new vehicle! The most exciting part of all - it's time to take your new ride home. Drive your old car in, hand over the keys and head off with your new model.

Tips to Get the Best Deal

If you want to make sure you're getting top dollar for your trade-in vehicle, there are a few things you can do to tip the odds in your favour. Here's what we'd recommend considering before getting in touch with your dealership.

• Timing is key. Most dealerships only have one designated person with the role of appraising potential trade-ins. That means that if you show up at peak times (like a weekend, or in particular Saturday afternoon) you could be in for a bit of a wait!
  
  We'd always recommend having the details of your vehicle prepared beforehand, such as a service history, odometer readings and work completed. This will speed up the process significantly and save you and the appraiser time.
  
  
• Make sure your car is well presented. A little goes a long way to help your car stand out, so always wash, clean, vacuum and tidy before driving into the dealership. We'd also recommend touching up any small repairs and being honest about any major work required. The dealer will check  over your car thoroughly, so it's better to be upfront about anything that needs fixing.
  
  
• Check your car for current recalls. If a recall for your car has been issued (ie. faulty airbags), you can actually get this fixed for free at a local dealership, so make sure to get this done before trading in.
  
  
• Check third party valuation sites. Even if you're not going to sell your car via a third party, it's a good idea to get a feel for how much your vehicle is worth before you go into the dealership. Reputable sources for valuations include: TradeMe, AA Vehicle Valuation report, and RedBook.co.nz. They’re well worth paying for and will give you a confirmed market value that will put you in good standing for negotiations.
  
  
• Be prepared to negotiate: Dealers need to on-sell the car so the price offered will be potentially less than a private sale, plus they have to take into account any repairs and include a warranty for the next owner. At the end of the day it’s your decision to sell and your responsibility to do your due diligence and negotiate a price you’re happy with.

Want help with your car buying process? Download our FREE 'Guide to Buying a New Car' below for more tips and tricks.