How to Find a Car Trade-in Value: What’s Your Car Worth?

Getting ready to upgrade or sell your ride can be a little hectic. Understanding how to find your car trade-in value helps quicken the process and get more bang for your buck! So how do you find your trade-in value for your old car? Is it better to trade-in my car at a dealer or sell it myself? What does my car's trade-in value look like? If you want to get straight to the point we have a free Car Trade-in Estimator.


Otherwise let's take a look at:


  • How to find the value of my trade-in?

  • Trade-in my car at a dealer or sell it myself?

  • How is trading-in at a dealer is valuable when buying a new car?



 

How to find the value of my trade-in?

How do dealerships calculate my car trade-in value? First, receiving a good car trade-in value doesn't have to do with tricks but has everything to do with the place you go. An honest and reputable place will explain how they get to the trade-in value they are offering. Some dealerships, including Matt Blatt Dealerships, use a 3rd party site to help evaluate the value of the vehicle.


Generally, your car trade-in value is a mix of the condition of your car, similar vehicle is sold for at auction, and the resale value. All pre-owned cars are going to be different and may need different care before it goes up for sale.


Understanding your car's condition will help you understand what it's trade-in value is. This is what needs to be taken into account:

  • Are they are dings or paint chips?

  • Will it require maintenance?

  • Do part need replacing?

  • How many miles does it have?

  • What year is the car?


The dealership is most likely going to detail the inside, replace parts, and do maintenance to it before selling it. Those costs are factored into the number they offer you for it.

For example, if the same model and year of your car is sell at auction for $13,000, but you need new brakes ($500), tires ($630), and the dealerships will have to detail ($100). How you would to find the trade-in value is by subtracting the costs. 

$13,000 - $500 - $630 - $100 = $11,770
Your estimated trade-in value would be $11,770.

Be realistic about the condition of your vehicle. We know everyone wants to get the best deal they can and most places care about their customers and providing fair and honest deals.


Trade-in my car at a dealer or sell it myself?

You have to also ask yourself: Time or money?

 

Car selling by an individual takes a large amount of time and energy. The checklist of tasks to get a good price for your car is extensive.

First, spiffing up the car, researching about the market, finding where to sell it, and choosing a competitive pricing tag. Then, the selling process. Selling can take months and involves showing the car, negotiating, and handling other issues. If you're up for the task you may make a little more money than at a dealer.

 

On the other hand, car trade-ins at dealerships are fast and straight forward. If you are skeptical, try to get some legitimate quotes from two or three places. Even if you're not looking to buy a car, many places still will buy the used car. But if you are looking to get a new car read about how trading-in at a dealer is valuable when buying a new car.

How is trading-in at a dealer is valuable when buying a new car?

Now that you understand your car's trade-in value, getting a new car can be more comfortable. Leveraging your trade-in can be very beneficial to you. It can be used as a down payment, lowering your monthly payment, or lower the amount of taxes you'll pay on the new car.


Even if you haven't fully paid off your car, there is something that can be done to consolidate and possibly erase some of the debt. Contact us and we will work with you on getting a new car even if you have debt in your current one.


You also receive tax credits when trading in for a new car. For example, let's say your trade-in is worth $10,000 and you are buying a new Outlander worth $25,000. You have already paid taxes on the $10,000 and will only pay taxes on the difference: $15,000. In NJ, you'll save about $660 in taxes.




Taking all this into account helps you find your car's trade-in value. Upgrading your vehicle can now be a little less stressful! If you have any questions, please make an inquiry!


Were you ready to get started? We have a free Trade-in Appraisal tool on our website and our team would be happy to assist you.



Make an Inquiry

Contact

MATT BLATT MITSUBISHI

501 DELSEA DRIVE N
Directions GLASSBORO, NJ 08028

  • Sales: (856) 881-0444
  • Service: (856) 218-7930
  • Parts: (856) 218-7930