Learning how to Trade in your Car will make buying another car far easier.
Imagine for a minute that you cannot trade in your car.
Perhaps because you don’t get what its worth, perhaps because the purchase price of your new car doesn’t come down enough.
So what do you do then ?
Buy the new car and end up with 2 cars ?
Have 2 car payments potentially ?
So the main reason people have issues around trading in their car is money.
You don’t get a fair shake, so you don’t want to let it go.
It helps to Understand the Other Side
Knowing what the Car Salesman is thinking and what his goals are helps.
So the car salesman is trying to both meet his monthly Sales Quota as well as make the most money on the deal.
He typically has 2 ways to achieve higher profits.
First he makes money on the new car sale.
Second he makes money on the trade in.
Trade in’s are going to be either sold on their lot or immediately sold to a third party at a known price.
Tactics to Trade in Your Car
When you are talking money with the Salesmen he is going to drop the price from MSRP.
If you have a trade in you will get a single price drop for both the new car and trade in together.
This is Always to the Salemans benefit.
Instead talk the new car only, negotiate you price based on that.
Once you have a price or are close introduce your trade in.
You will be starting the price negotiations from the finished new car price.
Keep in mind that not all salesmen are going to give you a fair price.
Always be prepared to walk away.
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