You've chosen the perfect new car and have decided to trade-in your current vehicle. Consequently, you need to be well prepared to ensure that you maximize the value of your old car.
These tips will help you get the best deal and allow you to drive away with the best possible trade-in.
Take Full Advantage of Your Car's Value
Don't be too focussed on the figure that the dealer offers for your car. It's the changeover price that you should really be concerned with. This is the final amount that you will pay to drive the new car away. Naturally you need this figure to be as low as you can possibly negotiate.
Take time to prepare your car and present it to the dealer at its very best.
Make Sure it is Spotless
Have your car prepared, just as you would if you were going to sell it at private sale. Create the impression that it has been well looked after:
- It is well worthwhile considering a car detailer to have your car professionally cleaned. Otherwise,
- clean it meticulously, with a thorough wash and polish, inside and out, carefully vacuum the interior and wipe down all surfaces.
Have everything in working order. The engine needs to be performing well. All electronics in order, lights and washers working and there should be no cracked glass. Most importantly the tyres should be in good condition.
Collect all Papers
Don't overlook the car's paperwork.
- Gather together the service log book and receipts for repairs and accessories that have been added.
- These records show the dealer that you have been a careful and attentive owner and the car is in the best condition that can be expected.
Know the Exact Value
Make sure to get an independent valuation and know what your car is worth. You can easily find out your car's market value with a quick internet search. Don't rely on the dealer to offer the full market value.
Optimize Your Timing
Dealer's sales targets usually come under increased pressure at the end of the month. So this is the most propitious time for you to make your trade-in and can often result in a better deal. Aim for the last week in the month to start your negotiations.
Remember all your comparisons and bargaining need to be done on your drive-away price.
Make the Deal
There are a number of additional aspects that you need be fully prepared for when negotiating your final outlay figure.
Check the New Car's Year of Manufacture
Often a new car will have a build date from the previous year and this should mean you receive a discount for its age. Cars that are manufactured overseas are quite commonly built late in one year and don't arrive in Australia until the next.
- These vehicles will have a compliance plate for the year of their arrival. It shows that the vehicle is tested and meets the requirements of Australian design rules (ADR's).
- Consequently, many cars can have a build date of say, 2104 and a compliance plate showing 2105. Check these plates which are fitted near the engine of the vehicle.
Be Wary of Extras
Don't be caught out with unwanted extras that the dealer may try to include. For example, they may claim that the only model they have in stock has some certain special features. If you don't want them you can demand to have a standard car or go somewhere else.
Also be on guard from the after-market salesperson trying to sell you additional items for new cars such as paint protection and rust proofing. Most modern cars have quite adequate protection in-built as they leave the factory.
By doing some simple homework and preparation you should be in a great position to get the best trade-in deal and drive away completely satisfied with your excellent new cars.