If you are thinking of trading your car in to a dealership, but want to have an idea of how much you can get, here are the main factors that will help determine the trade in value of your car:
- Age. The older the car, the lower the value.
- Make. Higher end cars like Mercedes or BMW are almost always worth more than lower priced brands like Kia or Honda, and some makes have better reputations for longevity and reliability which also affects resale value.
- Model. Similarly, higher quality models from every car maker will also have higher trade in value, if only because they were more expensive in the first place.
- Trim. Refers to the exact specs that the car has for its engine, standard features, number of doors, colour of the interior and exterior, and so on.
- Options. Cars with leather seats will have more value than basic fabric, a better engine is worth more than a less powerful or less fuel efficient one, and things like transmission, navigation, sunroofs, or all-wheel drive will all affect the trade in value.
- Condition. Rust, stains, dents, scratches, and number of repairs that were not done properly or according to the manufacturer’s specifications will hurt resale value.
If you want to have a general idea of how much the trade in value of your car is, there are numerous free tools and resources available online to use. You will be asked to input all of the above information and it will give you a range to go by. It’s worth noting that when you go to a dealer to trade in your car, they will have it thoroughly appraised and might come up with a different figure.
You can also contact our dealership using our Trade In Appraisal Form and set up an appointment to have your vehicle appraised by us.