When you are looking into trading in your car, everyone has an opinion on how much it is worth on the market. If you want to profit from an advantageous transaction without wasting any time, finding a fair trade-in value is key!
Find out more about your vehicle’s trade-in value in just a few clicks, thanks to our tool, brought to you by your dealership in Montreal.
How to estimate your vehicle’s trade-in value
There are several ways to estimate how much a car is worth. Firstly, you can research it on the web, by finding models that are similar to your own. By looking for your model and model year, you are likely to find several vehicles for sale that you can then compare to your own.
This method takes time and requires that you adequately compare your vehicle, especially taking into consideration factors such as wear, the state of the interior and packages and options.
For a proper estimate of your car’s trade-in value, you could also get a professional estimate. A dealership like Desjardins Acura will take the time to inspect your vehicle thoroughly and will give you a professional opinion on how much it is worth.
However, these methods take time. In the first case, you must do extensive research and compile data leading you to an adequate number. In the second case, you must visit the dealership in person.
Another interesting option to consider is an online calculating tool. These tools will analyse your vehicle’s worth by utilizing a vast database and provide you with an accurate number more quickly.
The different factors that are taken into account for an estimate
When you get your vehicle evaluated, the main factors that are taken into account are:
- The make, the model and year
- The vehicle’s color
- The state of the vehicle
- The mileage
It is obvious that not all makes and models depreciate in the same way, as years go by. Reliable cars by known Japanese manufacturers like Honda and Acura have a better resale value than cars from other manufacturers that are known to have problems when it comes to reliability, like some of the German luxury brands.
Body color can also influence the resale price. Sometimes it can even be quite surprising: did you know that yellow or orange cars are popular among buyers looking for a pre-owned vehicle? Some colors have little influence over the price, although others, like beige, depreciate the value quickly.
The state your car is in includes the body and the mechanical components, but the interior as well. If the buyer or the dealership needs to do touch ups, change certain parts or complete some repairs, the price will obviously vary accordingly.
The maintenance history and accidents are another factor you have to take into consideration! An impeccable history will automatically increase the trade-in value. Do not underestimate or overlook your maintenance calendar.
The advantages of having your car’s trade-in value evaluated
Estimating your vehicle’s trade-in value on your own can lead to several mistakes. You could, for example, be tempted to evaluate your car’s trade-in value by taking into account the price you paid and subtracting a set percentage.
However, recent years have demonstrated that calculating the trade-in value is much more complex than that. For example, mileage is less important than it used to be, given that buyers are not as concerned with it as before.
The estimate of the trade-in value must be done according to current available data in the automotive industry. By not having your trade-in value evaluated, you risk two things: underestimating your vehicle’s value or overestimating it.
In other words, you risk losing time or money.
By having your vehicle appraised, you are sure to get a fair price. This way you can avoid selling your vehicle at a much lower price than what it is worth. Moreover, you will also avoid wasting time and energy trying to sell your vehicle at too high a price.
Tools to calculate your trade-in value, use our calculator!
To make your life easier, we have put at your disposal a calculating tool for the trade-in value of your car. It relies on the Kelley Blue Book data, a reference in the sector of vehicle appraisals.
This way, we can provide you with a fair and well documented estimate for your car. Thanks to some information that you will provide, we will produce a fair estimate for the trade-in value for your vehicle.
Our tool is very easy to use. All you have to do is enter the required information and, in just a few clicks, we will have everything we need to provide you with an estimate.
We will take the time to evaluate your estimate request and get back to you quickly via the contact information you will have entered.
With our Acura dealership, get a fair price on your trade-in vehicle. Desjardins Acura, your Acura dealership in Montreal.