This Trick Will Get You a Better Price on Your Trade-In
Got your eye on a shiny new model? This secret trade-in strategy pays dividends.
On the market for a new car, but wary of the toll it will take on your savings? If you come in with a plan and know the tricks car dealers like to use, you can get yourself a fair price. One of the areas you should focus on when it comes to strategizing is the trade-in value of your vehicle.
How to get the best price for your trade-in
Many former car dealers have said that it’s best to negotiate your trade-in’s value separately from the price of the new car you want to purchase. That’s because your trade-in can get devalued quickly when you’re focusing on the final price of the new car. (Find out the best time to buy a new car in Canada.)
What’s the trick to get the best price for your trade-in?
Don’t let the car dealer know you have a trade-in right away. Some dealers will try to play tricks with the trade-in value in order to get you into a more expensive car by increasing the price of your trade-in. Your car’s trade-in value should not change drastically.
Salespeople typically have some wiggle room on trade-in values because it’s one area where they can make some additional money. An ex-car dealer posted on a Reddit forum that they used to lie to the owner on trade-in prices they gave customers so they’d make more money. Besides, the sale might also trigger a bonus for the salesperson so they might be willing to negotiate your trade-in’s value a little more.