How Much is My Car Worth?


How Much is My Car Worth? Advice on Selling a Car or Trading In a Car

If you are looking to sell your car or possibly trade your car towards a different vehicle a good place to start is to find out the value of your car. Midway Motors pays top dollar for used cars, trucks, SUV's and work trucks and we'll buy your vehicle even if you don't buy one of ours. We have a lot of Used Car Shoppers in Kansas and we are always looking to add inventory so please feel free to use the trade tool below to get an estimate of what your vehicle is worth. It's a free trade evaluation and there is zero pressure to sell or trade your vehicle. Please feel free to contact us if you have any questions.



 


You're getting ready to buy a new or used car. The car you currently drive is in good enough shape and may have some value to it. Should you sell it yourself or trade it in? Simply put, if you want the most possible money for your vehicle, you're better off selling it yourself. However, this takes time and perhaps more effort than people are willing to invest. Forty-eight percent of all car purchases in 2013 included a trade-in, according to Edmunds data.

Trade-in offers are typically less than you'd get in a private-party sale because the dealership must factor in the cost to recondition the vehicle and make a profit when it resells it. The plus for car shoppers is that trading in your car can be very convenient. If you follow these tips, you can get the most for your trade-in

Step 1: Appraise Your Car's Trade-in Value

It is important to accurately take stock of all the car's options and to be honest about the condition level. Note that only a small percentage of cars will actually be in "outstanding" condition. Most cars that are well maintained will be in "clean" condition. When in doubt about the condition level, it's best to err on the side of caution. Use our Tradepending Trade-In tool to determine a close estimate of your vehicles value based on similar vehicles for sale in your market.

Step 2: Get an Estimate or a Dealership Quote

The above tool gets an approximate estimate on your vehicles worth but you'll need to schedule a quick visit to Midway Motors to get an accurate value. Our knowledgeable and friendly trade evaluators will take a quick walk-around of the vehicle as well as a short test drive and will come up with a dollar value. You can take the cash or apply that dollar amount towards a new vehicle.

Keep in mind that the trade-in price you're offered at the dealership can vary depending on a number of factors, including the car's condition level, the dealer's current inventory and how likely it is that the car will sell.

Step 3: Negotiate or Close the Deal

If the value you were given meets your approval you have the option of walking out with a check for that price or you can apply the amount towards a new vehicle to bring the cost down. Either way there will be no pressure to take the deal or buy a vehicle from Midway Motors. If you'd like to think about the offer or shop around we completely understand. Buying and selling cars can be stressful and we are here to make the process easier for you by giving you as much information as possible, being as transparent as possible and assisting you in your car selling and car buying journey.


Common Trade-in Mistakes

Bringing a freshly cleaned car: Midway Motors has our own re-conditioning process that every used vehicle trade in goes through and we don't want you to waste your time cleaning up a vehicle that you would like to sell or trade. The truth is, a little bit of dirt won't change the value of the car. That's not to say that you should bring in a car with a bunch of fast food bags and soda cans strewn about, but don't feel the need to have the car detailed beforehand.

Repairing the car: People sometimes try to fix dents on their cars or throw on a new set of tires, thinking it will substantially add to the value of their trade-in. This seldom works. The dealer can usually fix flaws and put on new tires for substantially less than you can.

Overestimating the value: People tend to get sentimentally attached to their cars and often think they're worth more than they actually are. They look for the car's highest value on an appraisal site and treat it as though it were set in stone. The truth is that appraisals are averages, meaning some people are offered less and others more. Rather than fighting over the car's value, your efforts might be better spent on negotiating the price of your new car.

Hiding information: Some shoppers fib about a trade-in offer they've received in the hopes that the dealer might try to beat the imaginary offer. This rarely works. An experienced appraiser will either see right through the inflated offer or call the bluff by asking to see the estimate in writing. Also, not being up-front about damage or wrecks will not help because appraisers will run vehicle history reports and can spot most repairs. 



If you follow these steps and sidestep the common pitfalls, the trade-in process will run smoothly. The key is to know what your car is worth and be realistic about the offers you get.