1- Figure Out How Much Your Car Is Worth
Dealers use various sources to estimate your car’s value.
For example, they may pull information from multiple databases or check local listings to see how much similar vehicles are being sold for. Each source gives them a range of possible values, so they’ll take a guess based on those ranges.
You can get a car valuation in Dubai to learn the true value of your car. Many people are using car evaluations to sell their vehicles because the process is entirely online and hassle-free.
2- Find Out Exactly How Much You Owe on the Car
You should have no problems selling your car if it is paid off. Selling your car through a dealership is often tiresome and time-consuming, which is why people nowadays prefer selling cars online.
Not only does selling your car online save you time and effort, but you can get your cash instantly. Before you sell your car online, you should find out exactly how much you owe on your vehicle.
If you have positive equity, you can use the difference between what you owe and what your car is worth as a down payment on your vehicle. If you don’t have positive equity, you’ll need to cover the difference between your car’s worth and what you owe before trading it in.
Luckily, there are multiple options for covering the difference. You can either make a down payment or move the difference into a new car loan.
3- Shop Around for Trade-Ins
Trade-in offers may vary, depending on what your current vehicle is worth and how much the dealer thinks they can make from selling it.
To avoid wasting time and energy on negotiations that won’t go anywhere:
- Get multiple trade-in estimates from different dealers.
- Compare them and choose the best offer.
- Get all offers written down so you know exactly what each dealer is offering.
We recommend taking your car to a dealership that doesn’t sell your car’s brand because they might give you a better offer. Your vehicle will have less competition in a dealership that belongs to a different brand; as such, you are more likely to get a better offer. If you go to a dealership of the same brand, your car might compete with much more popular models from the same brand.
Another option is selling your car online, as some websites offer to buy your trade-in online. Whether you trade your car for a new vehicle or sell it through an online website, offers from online car-selling websites may prove helpful during negotiations.
If all else fails, you can take your vehicle to a used-car-only dealership, as those usually offer free quotes on trade-ins. When you’ve run out of options, this can be a good way of getting a written trade-in offer.
4- Gather Necessary Documents
We recommend gathering some necessary documents and keeping them on hand or even including them in your online listings.
- Car Title: This proves that you legally own the car and can transfer ownership
- Car Registration: This serves as evidence of ownership.
- Loan Information: Include the lender, account number, and the remaining balance.
- Maintenance History: You can get a higher value for your car if it is well maintained
5- Always Negotiate
After all your research, you should have a pretty good idea of how much your car is worth.
Keep negotiating until you reach a price that suits you, and don’t settle for less than what you know you deserve.
Don’t give up easily; use all the tips you’ve learned to get a good deal on your car.