Car Trade in strategy

uncmo96

I'm in the market for a new sports sedan. I'm looking to trade in my old car, an 8 year old BMW 335. I've bought a few new cars in my life and consider myself saavy with the tactics of negotiating, using the internet, truecar, edmunds, kbb, etc, etc, etc.

However, I've never done a trade in before. In the past I've run cars into the ground and just sold them to my mechanic!

I see a lot of places have these 3 day internet trade in quotes. Is that a better option than going in and discussing the trade in person. Also, does it matter if you do the trade in from the location where you are purchasing the car?

Thanks!

Blake

Hello @uncmo96 Letting a dealer appraise the car in person can benefit you if the car has been well taken care of while you owned it. An online appraisal can not really show how clean or not clean a car is and this can sometimes result in more money when appraised at the dealer.

What is most important is to know what dealers are paying for your car on average. To gather this infomration we can used Edmunds True Market Value Appraisal tool. Edmunds True Market Value or TMV pricing is a powerful tool that helps shoppers get a good deal on a new or used car. Based on actual sales data, TMV is a guide to what other people in your area paid for the same car. You can build, price and obtain TMV on any used car with the link below.

•https://www.edmunds.com/appraisal/

Dealers are likely to say we give the most for your trade-in, but then they are likely to not discount your new car as much to make up for the trade allowance. What is important is to make sure you are getting a fair amount for your trade and a fair deal on your next purchase.

Please feel free to let me know if you have any further questions.

Thanks!