It’s time to upgrade your vehicle — maybe you’re after a new look for your car or you need something with a bit more room to suit your lifestyle. However, while you’re considering what you want for your new set of wheels, have you considered what you will do with your old car?
For many, trading-in their old vehicle at the dealership is the easiest way to upgrade. You won’t have to worry about the hassles that come with arranging a private sale, including advertising and setting up inspection times. While a vehicle trade-in will generally give you less for your car than if you were to try and sell it privately, the convenience of the trade-in can be worth it.
How can I find out how much my car is worth?
Before you decide whether you’ll trade your vehicle in, do your homework to find out how much it’s worth. The RedBook gives you a good estimate on the wholesale values for cars being sold in Australia. Valuation will generally depend on the popularity and demand for your particular make and model — a popular car will fetch a higher price. If your vehicle has any extras, you could also get a better valuation.
Consider these desired attributes that are in demand on the used car market:
- Fuel efficiency — with the steep rise in petrol costs, fuel efficiency has become one of the most desirable features in a new or used vehicle. If you’ve got a car that gets good mileage, you’re likely to be looking at a comparably better trade-in.
- Low odometer readings — if your car has lower readings and is in good shape, it’ll fetch a better price on the used car market. It will also help if your vehicle is still covered by the manufacturer’s warranty, this can be transferred to a new owner.
- Power features — these days, many power «options» are no longer considered optional — this includes safety features like anti-lock brakes, air-conditioning and power windows and locks. If your vehicle doesn’t include these features, you’ll be likely looking at a much lower valuation.
- Colour — it’s true — the most popularly purchased vehicle colours are the stock standard black, white and silver cars. If your car’s a powder blue or coral pink — it could count against you when it comes to trade-in. Extreme modifications to the car body are usually not looked upon favourably.
Meanwhile, some unique features, such as a sunroof — can also boost your trade-in value by a few extra dollars. Ultimately, the most important considerations for your trade-in valuation will be the year the car was made, the popularity of the model and condition of the car. Make sure your vehicle is in tip-top shape before you visit the used car dealership Sydney has a number of dealerships that will take any make and model as a trade-in, so have a look around.