How Is Trade-in Value Calculated?

A car trade-in in Boyertown, PA, is a great way to part ways with your existing car while acquiring a new one. It saves you a lot of time and hassle by being able to handle both affairs during a single dealership visit. Learn what the dealer considers when calculating the value of your car. 

Kelley Blue Book Value

Most dealerships determine the “base” value by referring to Kelley Blue Book, which sets the standard for vehicle value based on model and year. If you’ve heard a dealer mention a car’s “book value,” this is what they’re referring to.

Damage

A dealer will inspect the vehicle for damage. If the car requires repairs, the cost of labor and parts to fix the issue will be deducted from the value. Therefore, it’s essential to address repairs before a scheduled trade-in. If the vehicle contains aftermarket parts, that may also affect the value as the component may need to be replaced with an OEM part. This is especially true if the car will be classified and resold as a certified pre-owned model.

Cosmetic Damage

Surface-level damage like scratches, dents, and upholstery stains can also adversely impact car value. Clean your car, and consider having it detailed if it has numerous cleanliness or condition issues. We also suggest ensuring that all the original equipment, such as the spare tire, is intact.

Supply and Demand

The rule of supply and demand applies very much to the automotive industry. It’ll have a higher value if there’s a high demand for your specific car model and trim in the local market. Are you considering a trade-in? Trade your vehicle at Patriot Buick GMC. Acquire a new model, such as the GMC Terrain, as part of the trade-in process. We make the process quick and efficient.