My trade in is worth HOW much!?

Often, society and status can influence our perception of how valuable something is. This happens with vehicles a lot. Vehicle owners make upgrades and adjustments to fit their personal preferences or to gain status or attention, and expect these changes to raise the value of their vehicle.

Many times, however, we have shoppers who are looking to trade in their vehicle and are surprised by how much the number they have in their head differs from the actual appraisal value.

A great starting point is to look up a baseline trade in value from which you can work up or down, depending on your particular vehicle. It is important to have a realistic view of what you can expect to hear from a dealer before shopping. Two of the most popular sources to look up trade in values are Kelley Blue Book and NADA.

After finding  a baseline from which to negotiate, some of the biggest factors influencing an appraisal are:

• The manufacturing year
• Mileage
• Overall mechanical and cosmetic condition
• Abundance or scarcity of vehicle type (supply and demand)
• Factory-installed features
• Navigation
• Backup sonar and/or camera
• High-quality stereo equipment
• DVD players
• Estimated reconditioning cost
• Tires
• "Check engine" light symptoms
• Vehicle history (e.g. Carfax or AutoCheck)
• Service records

On the other hand, some things that are unlikely to affect the value, depending on your area and the individual dealer, are things like:

• Freshly detailed/cleaned
• Aftermarket products
• Lift/lowering kits
• Wheels
• Exhaust
• Stereo equipment
• Windshield condition
• Towing packages

When searching for a used vehicle to purchase, shoppers are often more interested in the predicted longevity and performance of a vehicle, than in mostly superfluous upgrades. So, next time you're shopping around and want to trade in your current vehicle, keep in mind what's really important to a dealer.

For more information on the Daniell Motors family, and to find your own vehicle, visit DaniellMotors.com.

Questions? Comments? Concerns? We'd love to hear them. Tell us what's on your mind in the comments!