Open Today Sales: 9 AM-8 PMOpen Today Service: 7 AM-6 PM
Maybe one of the biggest decisions in the life of your vehicle is figuring out “if it is the best time to trade in your car.” Should I trade it in after a specific time? Is there such a thing as too many miles? What if it isn’t in perfect condition? It probably won’t surprise you to learn that there is not a one-size-fits-all answer. But, we do have a few tips to help you figure out when is the best time to trade in your car, truck, or SUV.
This is usually the first thing car owners consider. Most people believe that the easiest way to receive top dollar for their pre-owned car is to sell it themselves versus trading it for another vehicle. Still, there are some points to consider when trying to decide if you should trade your car or sell it.
With few special circumstances, selling a car can take weeks, if not longer; specifically if your vehicle needs extensive repairs. You would have to arrange every part of the sale procedure, from posting an advertisement, to scheduling test drives, to haggling on price, and anything else that comes up. Conversely, trading a car usually happens when you get your new car with only slight negotiation.
Normally the person selling the vehicle is accountable for the necessary paperwork, such as registration and the title. Trying to do everything all alone could be a disheartening and long process if there are unexpected challenges assigned to the paperwork, like a lien. We are equipped to do all of the paperwork, surprises included.
One of the biggest benefits of trading in your car is the possible tax savings found in places with a state sales tax. In these states, there’s a financial credit applied to your new car’s sales tax if you trade in a car at the same dealer they purchase the new one. The taxes are only applied to the price difference once the trade-in appraisal is figured into the new car price. The savings can easily reach up to thousands of dollars.
There are lots of schools of thought on this, especially with newer vehicles that are specifically built for high mileage usage. Yet, there’s a nearly universal agreement of the following three mileage milestones to keep in mind when considering trading your vehicle in:
This is the time when nearly all new car warranties conclude. On the other hand, this is when the first major replacement or repairs of ‘wear-and-tear’ parts, like brakes or tires, are typically done on cars. The depreciation of your vehicle will usually begin to accelerate more quickly after this milestone, so the nearer your vehicle is to this mileage range, the more desirable your trade-in will be.
Depending on usage, a vehicle that gets to this milestone will typically be three to five years old and most likely had many visits to the local auto service bay for routine maintenance. As the miles pile up, the value of the vehicle tends to get lower so owners should take this into account when considering their trade-in.
It is true that hitting this mileage isn’t nearly the automotive death notice that it was in the past, thanks in part to advancements in modern manufacturing. Yet, the higher the mileage a vehicle has, the more the depreciation in all but the rarest cases. Vehicles within this mileage can still have a positive trade-in value even if they aren’t in mint condition. The condition of the car is looked at more closely as the miles increase on the odometer.
Lastly, a crucial piece of trading in the vehicle is being ready for the trade-in assessment. These suggestions are not the only ideas but these steps will help you get the most value out of your car.
This should be a fairly obvious point, but many people think that showing the vehicle ‘as-is’ is a more honest approach to a trade-in evaluation. While we do not advocate hiding problems or blemishes with the vehicle (FYI, they will see through those attempts regardless), it is always a good idea to clean up your vehicle before bringing it to the dealership. This means getting rid of all trash and debris from inside the car (including the trunk), vacuuming and washing the interior and exterior, and perhaps even doing a nice exterior and interior detailing. Just think of the appraiser as a potential buyer of your vehicle and clean the vehicle.
We understand that automotive repairs can be overwhelming, especially for major mechanical problems. Yet, if it’s possible to fix minor dings, chips in the paint, and cracks in the various mirrors, windows, and windshield, all of those cosmetic fixes will significantly help improve the price of your trade. When possible, we advise repairing any mechanical problems the vehicle may have. The nicer your car is, the more money you will get for your trade-in.
If you have decided trading in your vehicle is the best option for you, then we recommend coming here with all of your paperwork, including the title (if you have it), registration, any maintenance documents you have, and all copies of the vehicle’s keys. Come ready to trade your vehicle in and you will speed up the process of driving away in your new vehicle.
Sterling McCall Toyota invites you to trade in your car, truck, SUV, or minivan in Houston, TX. No matter the day of the week, time of the month or year, we are happy to value your trade-in and get you into a new vehicle. Visit our dealership in person or give us a call to schedule an appointment.
I really had a good, time. Very professional and friendly. Great, great service, my gentleman that helped me in the service dept. helped me last visit, Adi, very helpful, customer friendly.
Mr. Pedro provides excellent service! He is friendly, helpful, and gives very clear explanations of what items on my car were checked today.
Excellent experience for everyone envolved. Very happy with the dealership.
This dealership has the most kind and efficient workforce, in particular Mr Adil Saleem, who went the extra mile to get my car serviced. Miss Hannah was also very supportive and helpful in getting the job done well in time as I had the most beautiful coffee on the house. Yes, do not miss their amazing coffee machine.
