Trading in your vehicle can be a great help if you’re currently in the market for a new one. With the fallout from a worldwide microchip shortage still being felt, production quotas from manufacturers will be short of their normal numbers from years prior. As a result, car dealerships are willing to pay good money for quality used vehicles, as they have become the most viable option for consumers.
Things to Consider Before Trading In
Before you attempt to trade in your vehicle, it’s important that you find out how much it’s worth. Each year, KBB (Kelly Blue Book) released a comprehensive guidebook that lists the current value of vehicles listed by year. It’s important to know that ALL vehicles depreciate in value once you drive them off the lot, some more than others.
Some of the factors to the value of your car include wear and tear and how much mileage it currently has. It might be worthwhile to take your vehicle to a mechanic for an inspection. This will help you determine if there are any necessary repairs that have to be done before trading in.
Advantages of Trading in at a Dealership
There’s nothing more stress-inducing than trying to sell a vehicle. Aside from dealing with people who will try to lowball your asking price, the paperwork can cause a headache if you don’t know how to properly fill it out. Trading in at a dealership means you’ll be skipping both parts of the process altogether, and even if you can’t locate the paperwork, the dealership can help you sort out the situation.
If you decide to use your vehicle as equity for a down payment, this will lower the initial cost of your new vehicle. If you have a lower-than-average credit score, a trade-in can help you circumnavigate this hindrance and even lower your monthly payments in the process. You’ll also have a chance to lower the sales tax when you trade in your old vehicle for a new one by using it as equity.
Trade In at Island Hyundai
At Island Hyundai, we’re no strangers to giving people the best service and allowing them to trade up to a higher quality vehicle by trading in their old one. We take pride in being the premier Hyundai dealer on Staten Island, and we’re happy to do the very best for you. For more information, give us a call today at 844-672-6134 or visit us at 1590 Hylan Blvd in Staten Island.
