Tired of your own car? Dreaming about a new one? Well, why not trade your car in instead of selling it to a private buyer.
Trading your car in at a dealership is more time-saving and convenient, and here we give you tips on how to negotiate the best deal for you.
Tip 1: Know your car’s worth
Do research online by visiting car retailers and several dealerships websites to see what your model of car commonly sells for. You can also physically go into the dealership, but why waste time when you can do that online?
Tip 2: Prepare your car
You will get much more for your car from a dealership if you spend a bit of money getting it professionally cleaned (including the engine) and repairing any dents or scratches. This could mean getting much more money from a dealership.
Tip 3: Prove you’re a responsible owner
Remember to keep and present receipts of all the maintenance work you’ve done on your car, any improvements, or services. Be open about the car’s history – this will create trust with the dealer. Tell them if the car was in an accident or if there are any faults.
Tip 4: Finalise price of your old car
First, finalize the price of your old car before discussing the new car you want to purchase. Dealers like to juggle around the costs between the two deals, such as by offering you more for your trade-in and then raising the price of the new. Ideally, don’t let them know that you are interested in something on their floor, and first, settle on a price – in writing – before proceeding with your new purchase.
Tip 5: Know the tricks of the trade
Most salespeople are really nice and friendly, but remember that it’s still a business transaction and that they have years of tricks up their sleeves to get you to agree to a deal. For example, they might say a price is ‘limited time only’. Don’t feel pressurized – walk away if you must. Beware of supposed “free” things such as a tank of petrol, car alarm, roof rack etc. Decline the offer and rather ask them to reduce the asking price.
Tip 6: Stay cool and clear-headed
Know what you can afford and stick to it. Remember the old rule of if your car payment is R5 000p/m, then budget for another R5 000 p/m for petrol, maintenance, and insurance.
Don’t be fooled, follow our tips to get the best price when you trade-in. Or chat to us about a fair valuation!