These days, people change their cars almost as often as they change their mobile phones. It makes sense to upgrade your car regularly, as a newer model not only has better features such as improved fuel economy, hybrid technology or even better infotainment and cabin safety, but it will keep the running and servicing costs down in the long run. So if you’re planning to use your existing car in what used to be called ‘part exchange’ for a newer model, how do you ensure you get the best trade-in value? Here are our top tips.
Keep on top of servicing
Maintaining the best trade-in value for your car starts long before you decide to upgrade to a new model. Trade-in offers for cars depend on the cosmetic appeal and appearance of your vehicle, and that all-important service history. If you can show a dealer that your car has been well maintained and serviced regularly, then you’re going to get a better trade-in deal when the time comes to swap it for a new model. If you have any major repairs or buy any big-ticket purchases such as a complete set of new tyres within around six months of trading in then include the receipts so the dealer can see what’s been done, and what kind of money has been spent on the vehicle to keep it in good condition.
Know the numbers
Before you head to the dealership to trade in your car, do a little bit of research. A car value valuation online will let you calculate the resale value of your car so you know how much it’s worth. Bear in mind that condition will play a big factor, as will things such as the car reliability ranking of your vehicle, whether your model has known issues or has been the subject of a manufacturer’s recall, and what its trade-in value really is. Do remember that no matter how good your car is, as soon as those wheels leave the forecourt it is depreciating. So you’ll never get back the full from-new purchase price, even if the car is only a few month’s old.
Get it detailed
A clean car (inside and out) is bound to attract more attention when it comes to trading in. Having a professional valet service do a thorough clean from top to bottom (including the engine bay, boot, interior, and underneath) will push the value up as it shows the dealer that the car has been looked after properly.
Take off those decals
A bit of individuality is great, but if you’ve resprayed your BMW bright orange, covered it in rally stickers or had it wrapped then our advice is to try and get it back to ‘standard’ as much as possible. What you like may not be someone else’s preference, and ‘customised’ vehicles are a tough sell when you’re looking for a decent trade-in value on your car.
Know your dealer
Dealers are experts at what they do – they know the market value of your cars and what is currently ‘hot’. However, they also know that a good quality certified pre-owned car that’s low mileage, clean, has a full service history and is in excellent condition will be easy to move on. So they’re always interested in making trade-in offers for cars they think their customers will like. If your car ticks all the right boxes, they’re much more likely to make you an offer.
If you’re looking to trade-in your car so you can upgrade to a new model then talk to the team at Al Futtaim Automall today.