Congratulations! You’re ready to give your Huntsville and Birmingham, AL, and Chattanooga, TN, travels an upgrade with a new car. But what will you do with your current vehicle? There are lots of options; however, the easiest and fastest option is to trade your vehicle into our dealership.
To help you learn more about this process, the team at Harbin Ford Scottsboro has compiled a list of trade-in FAQs. Let’s get started!
Why Trade in My Car?
Trading in your car is a great option when you’ve outgrown your current model. Instead of finding a new buyer or letting it sit in your garage, you can bring your current car to our dealership, and we’ll handle the rest.
Plus, trading in your car when you buy could help lower your monthly payments on your new finance plan!
How is My Trade-in Value Determined?
There are several components to determining a trade-in value. We use Kelley Blue Book® (KBB), a trusted third-party resource, to provide you with a trade-in estimate. What KBB looks for with vehicles is:
- Vehicle features
Vehicle popularity and demand are also taken into consideration when determining a trade-in value for your car. The more popular and more in demand your model is, the more likely it is that you’ll see a higher trade-in value.
Want to get an idea of your vehicle’s value before you visit our dealership? Spend a few minutes with our trade-in tool to receive a customized KBB trade-in estimate within minutes.
Can I Boost the Trade-in Value?
Yes! There are ways you can boost your vehicle’s trade-in value. Some quick and easy ways to do so include:
- Resolving any outstanding recalls
- Having your vehicle deep cleaned both inside and outside
- Scheduling routine services that are overdue
- Detaining your vehicle
Using the trade-in value provided by our tool, you can also study popularity and demand trends to ensure you’re trading in your vehicle at the time that’s most profitable for you.
Can I Trade in a Car I Still Owe Money On?
If your driving needs have changed before you’ve finished making payments for your car, you can still trade in your vehicle! If the trade-in estimate is equal to or greater than the remaining balance, this is called positive equity. The money you would get for trading in your vehicle is put toward the balance with no further action needed.
If the trade-in value is less than the balance, this is called negative equity. When this occurs, the trade-in will help reduce the overall balance, but you’ll still need to make payments until the balance reaches zero.
You have options if there’s a negative equity on your vehicle. You could hold off on trading in your vehicle until you make additional payments. In some cases, we may be able to help you renegotiate the original payment plan and consolidate that loan into your new payments.
Learn More About Trading in Today
Now that you’ve read through our trade-in FAQs and have a better idea of what to expect when you visit us at Harbin Ford Scottsboro, it’s time to head to our dealership and start the process. In less time than imagined, you can cruise around Huntsville and Birmingham, Alabama, as well as Chattanooga, Tennessee, from behind the wheel of your new dream car.
Contact us to get started today!