This may be one of the most important articles you read during the 2015 holiday season if you are in the market to buy or lease a new car or truck. Most dealers will hate us for writing the article but this may help you get the best possible deal for your new ride.
If you are one of the millions planning on buying a new vehicle to replace your current ride are are looking to use that vehicle as collateral for down payment or just want to get rid of the car, we have some useful tips to get you the best possible market price for your current vehicle.
First off, when going to a dealer, the first question they will typically ask you is whether or not you have a vehicle you are looking to trade in. My friends, the answer you will give them is NO! We know your intentions are to get rid of your current vehicle however you want to get the best possible deal on your new one. Ultimately you want to negotiate your new car deal based on facts. If you tell the dealer you have a trade, they may over inflate your trade value and build that over payment into your new vehicle giving you the false illusion that you got a great on your trade. The sad reality is you over paid for your new car and the overage paid on the trade was just built in to your new purchase price.
We recommend the following steps when looking to trade your vehicle in.
1-Find out what your car is worth before going to the dealer. Get estimates. Kelly Blue Book is often flawed and we recommend you using a service from Galves.com. You may have to pay to get the quote however this is the guide that new car dealers utilize and their pricing is current and updated weekly. KBB is a free service and often flawed. You can contact car buying companies and services such as ours to get a true assessment of what your value really is.
2-Decide whether you are leasing or financing. In New York State, you save money on the sales tax on your trade value when purchasing a new car. This rule does not apply when leasing. In other words, if you trade a car valued at $10,000 and the car you are buying is $20,000, you only pay sales tax on $10,000. If in the New York City area the $10K trade would be the same as if you sold it for $10,887.50. When trading a car you do not get the sales tax break in NY. New Jersey residents do get this break. When trading a car its best to get the best possible deal and work with cash at the dealership.
Once you decide on your new purchase methods and you know the value of your car. Get the best possible offer on the new car buy without telling them you have a trade and at the last minute, command how much you want for your car. You already know the values and the dealer cannot play games on your purchase price. In most cases the dealer will not want to lose the deal and work with you.
If we can ever be of assistance and you need a quote for your current vehicle, call us toll free at (888) 743-7620 or just fill out this short questionnaire. We’d love to be able to service you!
PLEASE FILL OUT AS MUCH INFORMATION AS POSSIBLE. ONE OF OUR ASSOCIATES WILL CONTACT YOU ASAP WITH THE BEST POSSIBLE PRICE FOR YOUR CAR. IF YOU HAVE ISSUES CALL US TOLL FREE (888) 743-7620