Sunday, August 15, 2010

How To Double The Value Of Your Trade...Even In A Down Market!

You want to buy a new car but you've still got the old one you've got to get rid of.

Many people need to get some cash out of their old car in order to get into a new one. So getting the most for your trade is often a major consideration.

Here's a few tips on how you can get more money for your old car.

Clean It Up. Give you car a good wash - don't just run it down to the gas station car wash. Scrub the car, especially around the bottom of the car where dirt and road debris can really make a mess.

You may also considering getting a professional detail job. While the price can seem a little high, the deep clean they provide will go far beyond what you can do yourself.

Wax It. Most people are surprised at what a good coat of wax can do to a car's finish. It can take weather beaten paint and give it new life and a nice shine.

The way your car looks reflects how well you've cared for it over the years. Careful cleaning is the single most important step you can take to ensuring a fair trade-in valuation.

Make It Smell Good. Use some Fabreeze or car deodorizing spray. If you are a smoker this is very important. You don't want your car to smell like an ash tray at trade in time.

Get An Oil Change. Old oil shows that maintenance has not been a priority.

Wipe Down The Engine Compartment. It's probably pretty messy in there. Give it a wipe down with a damp cloth and pay particular attention to any areas that are especially grimy. Clean the top of the battery and the terminals too.

If the battery terminals are corroded you can use a mixture of baking soda and water to clean them. Let the solution sit on the crud and they rinse with water.

Decide Whether To Buy Tires. Some dealers prefer matching tires because that's how they sell vehicles on their lots. If the tires are new, however, you may not want to bother.

Fix The Windshield. If you have any dings or cracks get these repaired. Many times windshield repairs can be covered by insurance if the problems are bad enough.

Once a crack starts to spread, the whole windshield has to be replaced, and a dealer will deduct the repair cost from the trade-in.

Bonus Tips: Consider fixing obvious mechanical and body problems, especially big dents and scratches (door dings are OK). But forget about pricey repairs, or you may spend more than you'll get back.

And maybe (most importantly), be realistic. Most owners are too optimistic about what their cars will fetch in an honest trade-in. To come up with an honest trade-in price, dealers consider what they would pay for a car like yours at a wholesale auction and then subtract what it would cost to repair and clean your car.

Dealers don't go by price guides, such as the "blue book," as rigidly as you may think. This is guaged more by what dealers see happening at the auction. Generally, a car dealer will attend the auction at least twice a week.

But to get a very rough idea of what to expect for your trade-in, consider some point between the book trade-in and loan values as a starting point (remember to subtract the cost of all necessary repairs and detailing).

Forget about asking for or getting the retail price for your trade. Dealers rarely get that much when they sell the car to the next buyer.

If you would like to get a no-obligation trade appraisal, please fill out the easy form HERE.

About The Author: Tracy Myers is commonly referred to as "The Automotive Transportation & Financial Expert & has spent the past 15+ years trying to change the landscape of the car business and the bruised reputation of car salespeople all over the country. He also the owner of Frank Myers Auto Group which includes Frank Myers Auto Maxx, Credit Quick, Worldwide Vehicle Protection Plan & Triad Car Credit. Tracy is a Certified Master Dealer, an NIADA Eagle Award Winner, was inducted into the 2009 class of The Triad Business Leaders Hall of Fame and was named the National Quality Dealer of the Year by the NIADA, which is the highest obtainable recognition available in the automotive industry. Frank Myers Auto Maxx was recognized as one of the Top 28 Independent Automotive Retailer in the United States by Auto Dealer Monthly Magazine, one of the Top 3 dealerships to work for in the country by The Dealer Business Journal and was named the #1 Small Business in North Carolina by Business Leader.

-For more information about Frank Myers Auto Maxx, visit, read their official blog at or read the juicy Used Car Gossip at http://www.UsedCarGossip.

No comments: