When you want to trade in your car we conduct a thorough inspection/appraisal. 

We have several buyers who bid on trades and we check everything they need to know.  For example, when examining the body condition, we check for dents, rust, hail damage, cracked lights, windshield, scratches and if the car has been repainted. 

The bidders use values from professional auto actions or the professional version the NADA Guides to get a starting value.  Then they subtract all applicable deductions; for example the cost of a windshield if that needs to be replaced.  The mileage deduction is often doubled or tripled when you get close to, or over 100,000 miles.  If a car has evidence of paint work, there will also be a deduction, since there is no way to tell how good the paint job was, and it can be an indication of an accident.

Blue Book Values versus Market Value: 

Often people look up their car using the wrong blue book.  Products that cater to consumers sometimes quote higher values.  The NADA guide is what is used within the industry and also buy most financing sources.  The buyers we use for bids, rely heavily on data from the auction, which is updated daily and therefore more current that the “blue book”.  If they can buy a car just like yours for $8000 at the auction, they won’t bid $9000, even if that’s the number the “blue book” gives. 

If someone offers you much more than market value for your trade, be careful.  Dealerships may offer you more for your trade, but they tend to add the money to the purchase price of the new car, or make it up in hidden fees somewhere else. If the trade in value is not high enoug for you, check out our consignment program. On average you can get a minimum of $1000 or more over the trade value. 

What about those push-pull-or-drag-in deals?

Appraising a trade is fairly sophisticated process and the trade value doesn’t fluctuate that much.  If someone offers you much more than market value for your trade, be careful.  Dealerships may offer you more for your trade, but they tend to add the money to the purchase price of the new car, or make it up in hidden fees somewhere else. 

Consignments:

Consignments can be a good idea if you want a higher amount for your trade then the highest bidder is offering, and you don't want the hassle of selling the car on your own.  You can get closer to retail blue book, if not above, depending  on the car, the market and other factors.  The drawback is that you loose the tax deduction you get from a trade in.  Consignements are charged a flat fee rate and you get to control the price. .  

For more information contact us.

affil./dlr. : the car guy