Quick Answer: Should I Repair My Car Before Trading It In?

What is the best mileage to trade in a car?

Best mileage level for a trade-in But according to Edmunds data, there is no major drop-off at any certain milestone.

Even the 100,000-mile mark is not a value-killer as long as the car is in good shape.

The truth is, there is no magic number..

What happens if I trade in my car for a cheaper car?

If your trade-in is financed and you have equity, the dealer will pay the remainder of the loan and subtract the equity from the price of the less expensive car. If the equity of your trade-in exceeds the price of the car your trading for, the dealer will cut you a check for the difference.

At what point should I sell my car?

Selling before the 60-to-70,000-mile mark is a good idea, since that’s often when warranties expire and when expensive fixes start becoming necessary. Sell a car before this mileage marker and you can ask for a higher price.

Does cleaning your car increase trade in value?

Cleaning up your car can do wonders for its value, Glover says. … “A good detailing job might cost about $50, but it could increase your car’s value by several hundred dollars.” A thorough cleaning may help you get the book value for the car, but don’t expect to get more for your vehicle than it’s worth.

Can you get in trouble for trading in a bad car?

So, no. It’s not unethical to trade a car in with a known mechanical issue that you don’t disclose. … If you’re trading it in (selling it) to a dealer, then I don’t think it’s a problem. They usually give you way less than what you could sell it for on your own.

When should you not trade in your car?

It is best not to trade in your vehicle when you purchased it very recently. As soon as you drive a new vehicle off the lot, it loses around 10 percent of its value and up to 20 percent of its value within the first year!

What should you not say to a car salesman?

10 Things You Should Never Say to a Car Salesman“I really love this car” You can love that car — just don’t tell the salesman. … “I don’t know that much about cars” … “My trade-in is outside” … “I don’t want to get taken to the cleaners” … “My credit isn’t that good” … “I’m paying cash” … “I need to buy a car today” … “I need a monthly payment under $350”More items…•

Will a dealership buy my car if I still owe?

2. Address outstanding loans. If you have an outstanding loan on the car, you’ll need to decide how you’ll manage that. Many dealerships will still be happy to buy financed cars, but you should know what you want from the trade.

What to do with a car that is not worth fixing?

Method 2 of 4: Donate the junk car to a charity. There are a number of charities that operate programs to which you can donate your vehicle. Some of them employ underprivileged people to repair them and return them to service on the road. Others dismantle them for parts or simply send them to the recycler for cash.

Does trading in a car hurt credit?

Trading in your car can hurt your credit score. Trading in your vehicle can cost you if you’re not careful. Sometimes the dealership tells you they’ll pay off the financing on your trade-in vehicle when you finance a new vehicle through them. … Williams says months of delays dropped his credit score.

Can a dealership refuse a trade in?

No dealer will kill a sale by refusing a trade. I’ve taken cars that got towed in as trades before. They’ll never refuse it, but they might only give you $100 for it. … If they want to move the new car they will work on the trade.