If you have an old car but you also want to buy a newer one, you have two primary options – to sell the vehicle you now own or trade it in and you purchase a more advanced model. However, because the process of selling a car can take longer, many car buyers prefer to trade it in. If you are interested to know what the process is like to Trade in Your Car, then read on.

Understanding What A Car Trade-In Is

In a car trade-in, usually, the older vehicle that you own is used to pay for part of a newer purchase. This means that you will get the resale value of your car and use it to pay for part of the one that you want to purchase. Then the rest of the payment is made for the newer unit. You should understand that when you trade-in your car, you are basically selling it too but don’t go through the same process. With trade-ins, it’s simpler and more convenient for you.

Trade-In Your Old Ride

In order to start the trade-in process, you have to go to your local dealer to get an initial quote for your car’s value. Then the amount you get for your old car will be used towards the payment for the new one. An auto loan or financing will be used to cover the rest of the purchase price. Trade-ins can be done both on a used or brand new vehicle.

Generally, the used vehicle will be your down payment. Some dealers will also offer you a cash settlement for your older vehicle. Either way, you get to let go of your old car and use its value as partial payment for the one that you would like to purchase.

Trade in Your Car

The Trade-In Process

Now that you know what a trade-in is and how to go about it, you also have to understand how the process works. This way, you are assured that you get the best value for your old ride. Here’s what you can expect:

  • Research Cars’ Trade-In Value. Research how much your car is worth before you get it looked at by the dealer. This way, you can decide if you want to trade in your old car and get a new one, or prefer to sell it instead.

  • Clean and Fix Your Car. Thoroughly clean your vehicle, both the interior and exterior. Then, if you have the money and time to spare, fix minor damages like small scratches and dents. Remember that your car needs to be as presentable as possible.


  • Prepare the Necessary Documents. Keep in mind that if you don’t have the right paperwork, it would be difficult to trade-in or sell your car. There is a great possibility that you may lose value or worse, be turned down.

When going for a trade-in, it does not necessarily have to be a brand new purchase. Trade-ins can be done even if you prefer to get a pre-owned vehicle. So if you think that this is a good alternative for you rather than just outright selling it, then go ahead and get the trade-in value of your car at your local dealer.