Is it best to sell your car privately? Could you trade it in? What does trading in your car even mean? Where does one start? Questions, questions and more questions.
Here’s what you need to know about trading in your car, courtesy of motus.cars.
What does it mean to trade in your car?
Simply put, this would mean that you offer your current vehicle to the dealership you wish to purchase another vehicle from, in exchange for a credit towards the car you’ll be purchasing.
How does my car get assessed and valued?
When taking the vehicle to the dealer to be assessed you must provide as much information as you can. The current book value may give you an idea of what it’s worth but do remember that this will only be an approximate value and the final price offered will be dependent on various criteria.
The following are important bits of info you must have:
· Vehicle make and model (exact variant)
· Is the vehicle still financed and how much do you owe?
· Full-service history – keep all service and maintenance receipts
· If there is any time remaining on your service plan, maintenance plan, or warranty, this will help add
to the value of your vehicle
· The spare key and other items that came with the car – pin numbers for the audio systems, Bluetooth
device, and info referring to immobilisers and alarm systems
The dealership wants to know how well taken care of the vehicle was, so it’s a very good option to make sure your car is clean. A clean and well-looked after car will attract a higher resale value.
Other things the evaluator takes into consideration are:
· Popularity of car make and model
· Year of first registration
· Mileage (shouldn’t be more than an average of 25 000km per year)
· Vehicle condition
· Any additional accessories or non-standard specifications
· The exterior colour of the car may also play a role – Tip to consider: white cars have the best resale
value and lowest insurance premiums due to their visibility on the road.
The motus.cars dealer network, has a unique electronic valuation system, allowing them to put a report together which includes the verification of the make and model of the car. They can offer you the best price, according to the value, thanks to their dealer network which covers all the major car makes and models.
How long will this take?
The dealer will be able to give you an indication of trade-in value straight after evaluation. The rest of the vetting and verification, to give you a complete report and solid offer, should not take longer than a few hours.
Some more advantages:
The dealer will handle everything that needs to be done from settling the outstanding balance with the bank to ensuring the vehicle is taken out of your name.
It is fast and convenient – you will not need to worry about the task of advertising the car, meeting with potential buyers, and transferring ownership.
It is safer – you will not be at risk of being scammed.
A quick word on recoditioning:
As a general rule of thumb, it works out cheaper to let your dealer recondition the car after trading it in. What you lose on the trade-in value will be minimal in comparison to trying to recondition the car yourself before you trade it in. If your car has been in a major accident, it is best to get a reputable panel beater to repair the damage before you sell your car. Any sign of a major accident will decrease the value of your vehicle.
If you would like to get your car valued as a trade-in, why not book a test drive in your new dream car on motus.cars and get your current car valued at the same time!
Loved what you read? Leave a comment or get in touch at email@example.com.