Trading in for the Car of your Dreams in Alexandria, VA

The first consideration of trading a used car in Alexandria, VA has to be if the car still has a lien on it or if you own it outright.

used cars in Stafford, VA

Trading in for the Car of your Dreams in Alexandria, VA

 

Facebook pulls up a reminder of what you were doing on this day two years ago and you think “whoooaahh I’ve changed a lot”. You laugh about the clothes you used to wear and the “deep thoughts” you used to have. A lot can change over the years including how you feel about your car. When you got the car you were younger and didn’t care that it wasn’t stylish. It had wheels and ran. Now you are making more money and care more about the little things like…sunroofs. And leather. Time for a trade in! But how do you get the most out of your trade-in for used cars in Alexandria, Va? We’ve compiled a list of suggestions for customers looking to trade in at our Buy Here Pay Here lot at Airport Auto Sales or at a surrounding dealership.

 

The first consideration of trading a used car in Alexandria, VA has to be if the car still has a lien on it or if you own it outright.

 

The best case scenario is if the vehicle has been paid off. If the vehicle is still being financed, you have to consider your equity. For our Buy Here Pay Here customers at Airport Auto Sales we suggest that you finance your vehicle for at least a year before you trade in. Otherwise, you will have to roll a large amount of equity on top of the new car loan. For example, if you owe $8000 and the trade in value is $3500 you will still be responsible for the remaining $4500. The best way to address this issue is to pay the difference in cash before purchasing the new vehicle. If you cannot pay the difference the $3500 will be deducted from the new car price, then the $4500 owed will be rolled onto the new car price. If you are extremely upside down in your current car loan it is best to wait for a trade in.

The next consideration to make is how much you can realistically get for your trade-in. Online research can provide some of the best advice of how much you should accept. Many customers that we see in our Buy Here Pay Here dealership at Airport Auto Sales will only look at the Kelly Blue Book or Edmunds value. While these can be helpful places to start, we really suggest the National Automobile Dealers Association (NADA). NADA will be able to provide you with the rough, average, and clean trade-in values as well as the retail value which is what the dealer will try and sell your vehicle for. Many who are trying to trade in their used cars in Alexandria, Va are expecting to receive a retail price offer only to be offended by a rough trade in price. For example, we looked up a 2002 GMC Yukon XL 1500 with 202,000 miles, cloth seats, and a tow package. The rough trade in value was 1,425, the average was 2,300 and the clean was 3,025 whereas the retail price was 5,225. Keep in mind that the dealer will want to keep the offer much lower than what they need to sell the vehicle for. If you are hoping for that higher number it might be beneficial to try and sell the vehicle privately.

The biggest benefit of selling the vehicle yourself is that you will be able to get a much better price for the vehicle. The biggest inconvenience is that private sales can be extremely time intensive and require a lot of effort on your part. Despite the monetary benefit, almost half of the used cars in Alexandria, Va sold every year are still trade-ins. If you are looking for a decent trade-in offer it is best to get as many quotes as possible. Many of our customers have their best luck at CARMAX. Remember to never accept a quote less than the rough trade in if the vehicle is running well and trade in for the car of your dreams!

 

Back to top