Trade-In FAQs

A vehicle trade is a great place to start if you're considering purchasing a new car. When you trade in your current vehicle, you instantly get extra funds to apply toward the down payment on your next car purchase. If you're new to the process, our team at Huffines Chrysler Jeep Dodge Ram (CJDR) Lewisville is ready to answer all your trade-in questions. Let's explore some of the more common concerns you may have about your trade-in.

How Much Should I Expect for My Car?

One of your first considerations when trading in a vehicle is naturally going to be its value. It's important to have a good idea of what your vehicle trade is worth so you know when you're getting a good offer and when there's room to negotiate. Kelley Blue Book is a reliable industry resource that can give you a solid estimate of your trade-in value based on the vehicle's year, make, model, condition, and mileage. 

It's important to be honest about the condition of your vehicle when checking these estimates because the dealership isn't likely to overlook damage. According to Kelley Blue Book, only about 54% of vehicles traded in qualify as being in "good" condition.

Can I Trade In My Car if I Haven't Paid Off the Loan?

You can trade in your vehicle even if you still owe money on your loan. However, this isn't always the best option. If you're thinking about trading in a vehicle despite an outstanding loan, you should first contact your lender to find out exactly how much you still owe. Compare this to the trade-in value to get a more thorough picture of your situation.

If you owe more on the vehicle than it's worth, you'll need to cover the difference when you trade in the car. You'll either have to pay this difference to the dealer with your trade-in or roll the amount into a new car loan. If you get a better loan offer for your next vehicle purchase than what you had before, you may pay less in interest when you roll this amount over. However, you'll still pay some form of interest, so it's better to pay off the difference in cash if you can.

If your trade-in is worth more than what you owe on the vehicle, you'll get the difference rather than the full value of the trade. For example, if your vehicle is worth $10,000 but you only owe $2,000 on your loan, you'll get $8,000 for your trade-in.

Can I Trade In a Leased Vehicle?

Trading in a leased vehicle is similar to trading in a vehicle with an outstanding loan. The dealer pays off what you owe the leasing company when it accepts your trade-in. If there's positive equity, you'll get this cash back. If the lease costs more than the value of the vehicle, you'll have to pay the difference.

Should I Clean My Car Before Trading It In?

You should always take your car to the dealership in the best condition possible to get the greatest value on your trade-in. Take the time to clean the vehicle's interior and exterior. Vacuum the floors and upholstery, wipe down surfaces, and condition any leather seating. Remove the floor mats and clean them separately so you can vacuum thoroughly underneath them. You can also soak the mats and scrub them vigorously if needed. Hang the floor mats up to dry, and don't replace them until they're no longer damp.

If your vehicle has an infotainment screen or digital display, wipe it gently with a microfiber cloth. Don't use a glass cleaner, as these screens are usually made from plastic, and the ammonia in the glass cleaner will damage the screen. Use a soft brush or sponge to clean cupholders, door pockets, and other small storage spaces. Clean the windows and windshield with an alcohol-based glass cleaner.

What Documents Do I Need To Trade In My Vehicle?

When you're trading in a vehicle, you'll need to have a few critical documents on hand. Specifically, you'll need the car title and registration. Gather these beforehand so you have everything ready when you arrive at the dealership. If you don't have your car title, you may still be able to trade in your vehicle with the registration. The dealership will ask you to fill out and sign a form requesting a title replacement.

If there's an outstanding loan on your vehicle, bring all your loan information with you, including your lender's name and contact information, the account number for your loan, and your most recent loan statement indicating how much you still have to pay on the loan.

Bring your vehicle's maintenance records with you as well if you have these available. A vehicle that's been well maintained is worth more than one that's overdue for maintenance. These records are a great tool for negotiating a higher trade-in price.

What Are the Benefits of Trading In a Car at a Dealership?

Trading in your vehicle at a dealership is the easiest way to upgrade from one vehicle to another. You don't have to worry about a gap between vehicles, as you would if you sold your car privately before purchasing a new one. The dealership can also seamlessly handle outstanding loans or current leases on your vehicle. You can instantly apply the value of your trade-in to your next vehicle purchase as you're setting up financing at a dealership, which allows you to arrive in one car and leave in another with minimal hassle.

Cash In on the Value of Your Trade-In Now

If you're ready to trade in your current vehicle and upgrade to a new one, our team at Huffines CJDR Lewisville can help. You can get an official offer to buy your car in just a few clicks. Just bring this offer to the dealership, and we'll walk you through the process of cashing in on your vehicle trade and purchasing a new car.