What is my car's trade in value?
If you plan to trade in your car soon, knowing your car's trade in value is vital. When you don't understand the value of your car, you won't know if your trade in offer is fair. Ewald Auto wants to help you learn how dealerships and car-buying websites appraise vehicles. Let's discover how used car values are calculated, and the factors that influence the value. But first....
What is trade in value?
Trade in value is the amount of purchasing credit you'll receive in exchange for your vehicle. At Ewald Auto, even if you don't trade cars, your offer is cash redeemable.
How do dealerships determine trade in value?
Ewald makes it easy to find your car's trade in value. Using our Max Allowance program, you'll submit some basic information and photos of your Milwaukee used car. Based on the details that you provide, we'll send you an offer. Then you can visit any of our Buying Centers for your final inspection before receiving your trade in value or check.
Max Allowance is simple to use, efficient, and it won't cost you a dime! When you trade your car at Ewald Auto, you won't pay any fees to Max Allowance - it's 100% complimentary for our customers to use.
What affects my trade in value?
Car trade in value is based on current market value. But unless you're trading a car that has never been driven, the market value can be hard to calculate. For a car with no serious problems or damage, the trade in value should be slightly less than the KBB used car value for your model year. Let's examine what goes into the value of your used car.
Maintenance - Regular service appointments preserve your used car's value. Keep up with your maintenance and maintain service records to keep your resale value high.
Damage - It's easy to see that a damaged car isn't worth as much. For minor problems, it's worthwhile to make repairs before you trade in your Milwaukee used car. Major damage won't yield the same return on your investment.
Mileage - Mileage can be more influential than vehicle age. The average American puts around 12,500 miles on their car annually. If you divide your car's mileage by its age, the number should be around that. If your mileage is much higher, your resale value will suffer.
Features and options - Some features and add-ons will increase your car trade in value more than others! Automatic transmission, leather seats, convenience features, and technology will positively affect your value. Unfortunately, performance and appearance modifications won't often boost your car's value.
Color - Customers love neutral colored vehicles. If you have a crazy exterior color, it could put off potential buyers. That's why a silver sedan will fetch a higher value than an otherwise-identical bright yellow car.
Condition - Any dents or dings in your exterior won't play in your favor when you value your car. Superficial damage is often worth repairing before trading or selling. The condition of your interior is important, too. Torn, stained upholstery can reduce your car's value, while well-maintained leather seats are always a plus. If you smoke or eat in your car, odors and stains will hurt your value.
Market Demand - It's all about supply and demand. In-demand used cars are ones known to be reliable and long-lasting. But even if you have a car with outstanding resale value, it might not net the highest value if there's no demand!
When you're ready to value your car, visit our website today to get started. Ewald Auto looks forward to helping you trade your car with our Max Allowance tool.
