How to Determine the Trade In Value of Your Car

When it’s time to trade in your current vehicle for a new model, you’ll need to understand its value. You’re more likely to get the money you deserve when you know how much your vehicle is worth. If you’ve been wondering how to determine the trade-in value of your car, our team at Volkswagen of Marion is here to help guide you through the process.
Value Your Trade-In

How To Determine the Trade-In Value of Your Car

Purchasing a new vehicle requires a lot of thought, especially when you want to make a trade. There are three main factors to consider when trading in a vehicle: the make and model of your vehicle, the mileage, and the condition.

There are several different ways you can determine the trade-in value of your car. You can check local online listings, visit Kelley Blue Book, or bring your vehicle to the dealership. This will provide you with a range of values for your vehicle so you can better understand what it’s worth.

Understanding Car Values

A used car can have different values based on whether you’re trading it in or selling it to a private buyer. It’s important to note that a dealership will sell a vehicle similar to yours for more than you might get when you trade it in. Here’s a breakdown of the different types of car values you may encounter when determining your vehicle’s value.

Trade-In Value

The trade-in value is the amount a dealership might offer for your vehicle if you want to exchange it for a newer model. This is sometimes known as the wholesale price.

Private Party Resale Value

The private party resale value is the price that you can ask for your vehicle if you decide to sell it to an individual instead of trading it in at a dealership.

Dealer Retail Value

The dealer retail value is the price a dealership will be asking for your vehicle and is typically higher than the trade-in value and private-party resale value.

Certified Pre-Owned Value 

Dealerships may sell some newer vehicles as certified pre-owned (CPO) with a bumper-to-bumper warranty. CPO vehicles typically have a higher price tag, as they’ve gone through a detailed certification process.

How Do Dealerships Appraise Your Trade?

There are several different ways that dealerships can appraise the value of your trade. Knowing how dealerships appraise vehicles will help you prepare for the trade-in process. Here are some of the ways dealers may appraise the value of your trade-in:

The National Automobile Dealers Association Guide Value

Each year the National Automobile Dealers Association publishes a guide to provide values for new and used vehicles. They use their scale and consider various factors when determining a value for your make and model of car.

The Kelley Blue Book Value

One of the most well-known car appraisal methods is Kelley Blue Book, which will consider your vehicle’s year, make, model, and additional options or features to determine its value.

The Dealer’s Invoice Price

If you’re looking for a good starting point to determine the value of your vehicle, the dealer’s invoice price can help. This is the price that a dealer pays for a vehicle without any additional fees or markups.

The Edmunds Value

Another popular website for car appraisal value is Edmunds. This site will provide your car’s value along with other useful information and resources for selling or trading in the vehicle.

Remember that there’s no one right answer for the value of your car. It can vary depending on various factors, and if you’re searching for a way to appraise the value of your trade-in, the best way to get an accurate number in mind is to use a variety of appraisal methods and compare the results.

How To Maximize Your Cars Trade-In Value

You want to get the most for your trade-in. Making any necessary repairs on your vehicle before you go to trade it in will have a significant impact on the trade-in value. This may include fixing minor engine problems, replacing damaged windows, and switching out or replacing worn-out tires. Receipts of previous maintenance, repairs, or upgrades may help you negotiate your price. While cleaning your vehicle to trade it in isn’t always strictly necessary, it may present better than a dirty vehicle.

Why Should You Trade Your Car In at Volkswagen of Marion?

Are you ready to trade in your vehicle and upgrade to something new and exciting? The team at Volkswagen of Marion is eager to help. We’ll make it easy for you to find out what your car is worth online or at our dealership so the process is as easy and as stress-free as possible.

You can value your trade online today in minutes with our convenient online tool. All you have to do is provide us with some information about your vehicle, and someone will reach out to you to provide you with a quote. We’ll take care of the details so you can get straight to enjoying your new vehicle.

When you trade your vehicle in at Volkswagen of Marion, you won’t have to waste your time cleaning it or getting it ready for sale; we’ll do that for you. We can also offer you various financing options and even reduce the amount of your new loan based on your trade-in.

Visit Volkswagen of Marion Today

If you’re ready to trade your current vehicle for a new Volkswagen, contact Volkswagen of Marion. A team member will get you started with our trade-in process and offer you a quote for your vehicle. We always offer competitive pricing and top dollar for your trades. You can reach us via our secure online form or by phone at 618-249-3841 for any questions. If you’d rather talk about it face to face, feel free to drop into our dealership at 4403 W. Deyoung St. in Marion, Illinois, and one of our team will be more than happy to help.