How do I get the best value for my trade-in?
Trading in my 2018 Ford Escape with 110,000 km. Got wildly different online offers - $8,500 to $12,000. What's the best strategy to maximize trade-in value? Should I detail it first?
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asked 8 Mar 2024, 6:04 pm by Sue L.
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Get appraisals from multiple dealers and online buyers before your purchase. Use highest as leverage. Clean it thoroughly (clean car appraises higher), fix minor issues like burnt-out bulbs, bring service records. Negotiate trade-in SEPARATELY from purchase - don't let them bundle numbers.
Consider private sale if you can. Difference between trade-in and private on a 2018 Escape could be $2,000-3,000. But trading in has the tax advantage in many regions (you only pay tax on the difference between the new car and your trade). Do the math both ways.