Trading in your current car is the simplest way to change cars: one visit, one set of paperwork. A little preparation makes the appraisal quicker and gives you a clear number to compare.
Know your numbers
If you still have a loan, ask your lender for the payoff amount, which is not always the same as the balance on your last statement. Then look up a value range for your car's year, model, trim and mileage so you know what a reasonable offer looks like.
Gather the documents
- The title, or the lender's details if the title is held by them.
- Your registration and a photo ID.
- Service records and receipts for recent work.
- Both keys, if you have them.
Present the car well
Clean it inside and out and remove your personal items. Fix small, cheap things such as a bulb or a wiper blade. Large repairs rarely pay for themselves before a trade-in, so ask for an appraisal first.
Compare offers
Ask more than one buyer for a written offer. A private sale may bring more money but takes time and effort; a trade-in is faster. Only you can decide which matters more.
Keep the two deals separate
Agree on the price of the car you are buying and on the value of your trade-in as two separate numbers. It is the easiest way to see what each one really is. Depending on your state, the trade-in value may also reduce the sales tax you pay, so ask how it is applied.