{"id":96999,"date":"2023-11-24T23:19:08","date_gmt":"2023-11-25T07:19:08","guid":{"rendered":"https:\/\/blogv2prod.wpenginepowered.com\/blog\/?p=96999"},"modified":"2024-04-12T18:32:33","modified_gmt":"2024-04-13T01:32:33","slug":"the-upside-of-vehicle-trade-ins-benefits-you-should-know-about","status":"publish","type":"post","link":"https:\/\/www.carparts.com\/blog\/the-upside-of-vehicle-trade-ins-benefits-you-should-know-about\/","title":{"rendered":"The Upside of Vehicle Trade-Ins: Benefits You Should Know About"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><style>.kadence-column_74bc94-52 > .kt-inside-inner-col{border-top-width:0px;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;}.kadence-column_74bc94-52 > .kt-inside-inner-col,.kadence-column_74bc94-52 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column_74bc94-52 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column_74bc94-52 > .kt-inside-inner-col{flex-direction:column;}.kadence-column_74bc94-52 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column_74bc94-52 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column_74bc94-52{position:relative;}@media all and (max-width: 1024px){.kadence-column_74bc94-52 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column_74bc94-52 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column inner-column-1 kadence-column_74bc94-52 qk-look-widget\"><div class=\"kt-inside-inner-col\">\n<div class=\"wp-block-ultimate-post-row ultp-block-538dc0  qk-main-wrap\"><div class=\"ultp-row-wrapper\"><div class=\"ultp-row-content\">\n<div class=\"wp-block-ultimate-post-column ultp-block-7ed27d\"><div class=\"ultp-column-wrapper\"><style>.wp-block-kadence-advancedheading.kt-adv-heading_616ccb-d7, .wp-block-kadence-advancedheading.kt-adv-heading_616ccb-d7[data-kb-block=\"kb-adv-heading_616ccb-d7\"]{text-align:center;font-size:20px;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading_616ccb-d7 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading_616ccb-d7[data-kb-block=\"kb-adv-heading_616ccb-d7\"] mark.kt-highlight{font-family:Inter;font-weight:500;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading_616ccb-d7 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading_616ccb-d7[data-kb-block=\"kb-adv-heading_616ccb-d7\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<div class=\"kt-adv-heading_616ccb-d7 summary-title wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading_616ccb-d7\"><span>Summary<\/span><\/div>\n\n\n\n<ul class=\"wp-block-list\"><li>Trading in your vehicle is quicker than finding a buyer. You&rsquo;ll also save money on advertising and tax.<\/li><li>Your vehicle will be assessed before a trade-in price is offered. Make sure to get repair estimates (if needed) before going to the dealership.<\/li><li>It&rsquo;s best to do purchase and trade-in negotiations separately.<\/li><\/ul>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n\n\n\n\n<p>Thinking about selling your old car and switching to a <a href=\"https:\/\/www.carparts.com\/blog\/car-buying-101-how-do-i-know-if-im-getting-a-good-deal\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"new one\">new one<\/a>? You&rsquo;ll most likely have to choose between finding a buyer on your own and trading in your vehicle at a dealership.<\/p>\n\n\n\n<p>Let&rsquo;s delve into the advantages of trading in your vehicle to help you decide.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Advantages of Vehicle Trade-In<\/h2>\n\n\n\n<p>Here are some of the known advantages of trading in your vehicle:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Tax Advantage<\/h3>\n\n\n\n<p>In some states, trading in your vehicle means paying less tax at the dealership. In Washington, for instance, the value of your trade-in is deducted from your total purchase price, reducing your <a href=\"https:\/\/www.carparts.com\/blog\/what-are-the-fees-when-buying-a-new-car\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"tax liability\">tax liability<\/a>.<\/p>\n\n\n\n<p>Before deciding to trade in your vehicle, make sure to check your state&rsquo;s tax laws.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Quicker Transactions<\/h3>\n\n\n\n<p>Aside from reducing your tax liability, trading in your vehicle will also be quicker than trying to find a buyer yourself. That&rsquo;s because the dealership will handle everything for you.<\/p>\n\n\n\n<p>Trade-in transactions are usually done in just one day, so you can bring home your new car in no time.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-1024x682.jpg\" alt=\"man trading in his car\" class=\"wp-image-97001\" width=\"1024\" height=\"682\" srcset=\"https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-1024x682.jpg 1024w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-300x200.jpg 300w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-768x512.jpg 768w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-1536x1024.jpg 1536w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-600x400.jpg 600w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-1200x800.jpg 1200w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car-150x100.jpg 150w, https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/man-trading-in-his-car.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\"><figcaption>Aside from reducing your tax liability, trading in your vehicle will also be quicker than trying to find a buyer yourself. That&rsquo;s because the dealership will handle everything for you.<\/figcaption><\/figure>\n\n\n\n<p>If you sell your car to a private buyer, you will have to prepare all the paperwork. There can also be a lot of back and forth during negotiations, prolonging the process even more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Security<\/h3>\n\n\n\n<p>People selling their vehicles for the first time must be very careful about getting scammed. You&rsquo;ll most likely talk to a lot of potential buyers&mdash;some of whom you might just be talking to online. If you&rsquo;re not careful, you might expose yourself to fraudulent schemes like forged cashier&rsquo;s checks, invalid wire transfers, and counterfeit bills.<\/p>\n\n\n\n<p>Trading in your vehicle will allow you to get a reasonable price for your old vehicle without sacrificing your security and peace of mind. The trade-in process at well-known dealerships is usually straightforward and safe, so there&rsquo;s less reason to worry about fraudulent transactions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">No Need for Advertising<\/h3>\n\n\n\n<p>Gone are the days when you&rsquo;ll have to spend a lot to advertise a certain product you&rsquo;re selling. There are many free platforms like Craigslist and Facebook Marketplace where you can create listings for selling a vehicle without requiring payments.<\/p>\n\n\n\n<p>Despite these platforms being free, you&rsquo;re going to need to spend time creating your post, adding descriptions, and responding to inquiries.&nbsp; If you&rsquo;re not the type who can spend time on these things, trading in your vehicle can be the best option for you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">No Detailing and Recondition Costs<\/h3>\n\n\n\n<p>A private buyer will expect a fresh and clean car. You&rsquo;ll have to spend money detailing your vehicle. You might even spend more than a hundred bucks trying to make your ride&rsquo;s interior look good.<\/p>\n\n\n\n<p>Meanwhile, dealerships will take your vehicle as it is. They will handle all the reconditioning and cleaning needed. The cost will be factored into the trade-in value they&rsquo;ll offer you, so you won&rsquo;t have to pay for anything upfront.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Can I Trade In a Vehicle With an Outstanding Loan Balance?<\/h2>\n\n\n\n<p>Trying to sell a car with an outstanding loan balance can turn off potential buyers. What&rsquo;s good about trade-in is that you won&rsquo;t have to pay off your existing loan in full.<\/p>\n\n\n\n<p>Dealerships will usually manage the loan settlement as part of the trade-in process. They will usually make arrangements for you to make paying your loan easier.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Happens During a Vehicle Trade-In?<\/h2>\n\n\n\n<p>The exact trade-in process can vary depending on the specific dealer you&rsquo;re transacting with. But generally, here&rsquo;s how a vehicle trade-in process is done:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Vehicle Assessment<\/h3>\n\n\n\n<p>The process will usually start with a vehicle assessment. The dealership will evaluate your car&rsquo;s condition to determine its market value. This value will usually be based on a lot of factors including <a href=\"https:\/\/www.carparts.com\/blog\/what-can-be-considered-low-mileage\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"mileage\">mileage<\/a>, age, and overall market price.<\/p>\n\n\n\n<div id=\"article-search-widget\">\n<div class=\"cp-search\">\n<div align=\"center\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cld.partsimg.com\/image\/upload\/w_auto,dpr_auto\/carparts\/logos\/badge_wordmark\/full_color\/CP_LOGO_COLOUR_RGB\" alt=\"CarParts.com\" width=\"300\" height=\"56\">\n<\/div>\n<form id=\"cpsearchform\" name=\"cpsearchform\" action=\"https:\/\/www.carparts.com\/search\" method=\"get\" target=\"_blank\" accept-charset=\"character_set\" aria-label=\"search CarParts.com\">\n    <input type=\"text\" class=\"keyword\" name=\"q\" placeholder=\"Search for parts on CarParts.com\" value=\"\" aria-label=\"Search CarParts.com\"><input type=\"submit\" class=\"btn-search\" value=\"Search\" aria-label=\"Search\">\n<\/form>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Negotiation<\/h3>\n\n\n\n<p>If you do not agree with the offer, you&rsquo;ll usually have a chance to negotiate your trade-in price. Make sure to research your car&rsquo;s value beforehand. If you have time, you can use online valuation tools from sites like <a href=\"https:\/\/www.kbb.com\/whats-my-car-worth\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"Kelley Blue Book\">Kelley Blue Book<\/a> and Edmunds. These sites can also estimate your car&rsquo;s trade-in value.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Time for Paperwork<\/h3>\n\n\n\n<p>Once you&rsquo;ve reached an agreement, the dealership will prepare all the paperwork including those required for the new vehicle you&rsquo;re purchasing. The trade-in value will be deducted from the price of the new vehicle.<\/p>\n\n\n\n<p>Make sure to read everything before signing. Look for add-ons or hidden charges that were not agreed upon.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Turn Over Your Car<\/h3>\n\n\n\n<p>After you&rsquo;ve signed all the paperwork, you can turn over your old car&rsquo;s keys. Make sure that you don&rsquo;t leave any personal belongings inside your car. Your dealership will now handle your old car, and they&rsquo;re going to prepare it for reselling.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Drive Home With Your New Car<\/h3>\n\n\n\n<p>Once everything is cleared, you can take home your new car. Before leaving, check the vehicle for any obvious faults.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tips for Negotiating When You Trade In Your Car<\/h2>\n\n\n\n<p>Here are some tips to keep in mind if you want to secure a favorable price:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Get a Repair Estimate Beforehand<\/h3>\n\n\n\n<p>If you think your car needs repairs, you can get a repair estimate before going to the dealership. This will give you bargaining power once the dealership&rsquo;s estimator assesses your vehicle and starts deducting repair costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Do Purchase and Trade-In Negotiations Separately<\/h3>\n\n\n\n<p>Experts suggest finalizing the price of the new car before discussing the trade-in allowance. That&rsquo;s because mixing the two will give the salesperson more opportunity to manipulate the prices. You might get a good deal for the trade-in but you might end up paying too much for the new car.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Don&rsquo;t Be Afraid to Walk Away<\/h3>\n\n\n\n<p>If you don&rsquo;t like the offer, remind yourself that you can always walk away. That&rsquo;s if you did not sign the contract yet. If you&rsquo;re not in a hurry, you can compare offers from different dealerships to help you decide.<\/p>\n\n\n\n<p>Letting go of your old car can be difficult, and finding a new replacement can present its own set of challenges. When selling a car or trading it in at a dealership, always make sure your rights are protected and ensure a fair deal.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>Thinking about selling your old car and switching to a new one? You&rsquo;ll most likely have to choose between finding&#8230; <a href=\"https:\/\/www.carparts.com\/blog\/the-upside-of-vehicle-trade-ins-benefits-you-should-know-about\/\" rel=\"nofollow\">Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":97000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53,3950,3768],"tags":[],"ppma_author":[2607,3269],"class_list":{"0":"post-96999","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-features","8":"category-for-the-car-owner","9":"category-lifestyle","10":"entry"},"acf":{"adrotate_specific_mobile_ad":"","adrotate_specific_desktop_ad":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Upside of Vehicle Trade-Ins: Benefits You Should Know About - In The Garage with CarParts.com<\/title>\n<meta name=\"description\" content=\"Thinking about switching to a new car? Trading in your vehicle has more benefits than you think. Read on to learn more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.carparts.com\/blog\/the-upside-of-vehicle-trade-ins-benefits-you-should-know-about\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Upside of Vehicle Trade-Ins: Benefits You Should Know About - In The Garage with CarParts.com\" \/>\n<meta property=\"og:description\" content=\"Thinking about switching to a new car? Trading in your vehicle has more benefits than you think. Read on to learn more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.carparts.com\/blog\/the-upside-of-vehicle-trade-ins-benefits-you-should-know-about\/\" \/>\n<meta property=\"og:site_name\" content=\"In The Garage with CarParts.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/carpartscom\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-25T07:19:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-13T01:32:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.carparts.com\/blog\/wp-content\/uploads\/2023\/11\/vehicle-trade-in-benefits.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@carpartscom\" \/>\n<meta name=\"twitter:site\" content=\"@carpartscom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.carparts.com\\\/blog\\\/the-upside-of-vehicle-trade-ins-benefits-you-should-know-about\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.carparts.com\\\/blog\\\/the-upside-of-vehicle-trade-ins-benefits-you-should-know-about\\\/\"},\"author\":[{\"@type\":\"Person\",\"$id\":\"4\",\"name\":\"CarParts.com Research Team\",\"jobTitle\":\"Expert Automotive Writer\",\"description\":\"The CarParts.com Research Team is composed of experienced automotive and tech writers working with (ASE)-certified automobile technicians and automotive journalists to bring up-to-date, helpful information to car owners in the US. 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