TRADING IN YOUR CAR
or SELL YOUR CAR FOR CASH
How is the trade-in value determined?
Using your current vehicle as your down payment is OK.
The trade-in price is based on a physical inspection of the vehicle, as well as dealer guides that establish the value of cars, vans, trucks, and SUVs. In addition to these guidelines, we must factor in the following costs when accepting a trade-in:
- Reconditioning costs – Detailing, minor repairs, tires, etc.
- Labor – Sales personnel required for inquiries, test-drives, and document processing for the vehicle’s buyer.
- Advertising costs – On average, $300-$400 per vehicle.
- Holding costs – Interest, insurance, depreciation and storage until the car sells (typically about $300-$400 per month).
- Mark-downs – Price reductions we might have to take if the car is not sold quickly.