Buyer Question: What is a fair value for my trade-in?

Comment: The fair value of a trade-in depends on how a seller disposes of it e.g. 1) Trade it to a dealership for a new vehicle, 2) Sell it to a third party, 3) Sell it to a family member, 4) Donate it to a favorite charity?  The fair value of the trade-in will also vary depending on the vehicle’s mechanical and cosmetic condition, mileage, options and the area of the country where it is located.

The fair value of the trade-in can be obtained from several independent sources, Autobytel, Edmunds, and Intelliprice.  Autobytel can be found at www.autobytel.com, Edmunds at www.edmunds.com, and Intelliprice at http://www.veretech.com/intelliprice/home.html.  The values assigned by these independent sources will vary slightly. Note: Autobytel is currently powered by Intelliprice.

Edmunds has two used vehicle values.  The first is “trade-in” value which is the amount you may expect to be offered by a dealer.  The second is “private party” value which is the amount you may expect to receive if you sell your vehicle to another individual.

The following steps take approximately half an hour and could save you $1000-2000.

1. Use the Autobytel, Edmunds, and/or Intelliprice Internet sites to determine the value of your trade-in.  They are free. 
2. Include a copy of each report in your Buyer Information Folder.

Deductions for Minor Problems

The dealership may deduct excessive amounts from the value of your trade-in due to non-normal wear and tear problems.

Buyer Tip: To determine if the potential dealership deductions are appropriate or excessive find out the cost of repairing these issues before going to the dealership.

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