Factors That Influence The Trade-In Value For Cars
By
Abdul Waha
Knowing your car's trade-in value before visiting a dealership gives you an advantage, as it helps you understand the factors that influence the valuation. By addressing any issues beforehand, you'll be better prepared to find the best trade-in deal.
Condition Of The Car
When trading in your car, the evaluator will inspect both the exterior and interior for issues like dents, scratches, stains, or non-working parts such as broken power windows or leaking sunroofs. Fixing essential issues before the evaluation can help increase your car's trade-in value, but be sure to get a cost estimate first to ensure it's worth the investment.
1964 Chrysler 300 K Silver Edition parked on the pavement. Photo Credit: Wikimedia Commons @Greg Gjerdingen
The age of your car significantly impacts its trade-in value, as its value depreciates rapidly in the first year and continues to decrease gradually for the next 7 years. While repairs and new parts help, the model year is a key factor for dealerships to assess how many years of use the car has left and its potential for future repairs.
