Trade In Value

We live in a world full of options. There are so many options for every choice we make that the choices can be paralyzing. Which one is the right choice? Luckily, you can be confident that you are making the right choice when you trade in your car at Ewald CJDR. We are a used car dealership near Waukesha that will ensure you get the most accurate value for your used car! We use MaxAllowance to determine trade in value, which is transparent and upfront. If you're not sure whether trading in your car is the best choice for you, read on to see why it is!

What is the smartest way to trade in a car?

As we mentioned above, we use MaxAllowance at Ewald CJDR to determine used car values. This is an incredibly accurate system because it scans the values of thousands of used cars around Waukesha and our current inventory needs. And it reevaluates prices daily based on fluctuations in the market! If you trade in your car with us, you need to fill out an online form and send in a few photos and videos of your car. We will use that to determine trade value and send you an offer. You can even renegotiate, unlike other car trade in services like CarMax or Carvana. 

Is it better to trade in or pay off a car?

It is better to trade in your car for a few reasons. First, you have to make sure that you have positive equity when you trade in your car. This means that the value your car is worth is more than the value of the loan you are paying off. If you have positive equity, you're in the clear! 

It all comes down to your situation. For example, if your car's ownership costs are too high, you might want to trade in. Or if the dealership has great incentives! We often have promotions going at Ewald CJDR. When you trade in, the trade in value of your car gets put toward the payment on the new car. The trade reduces the new loan and original down payment. Awesome! And with Wisconsin tax breaks, you could save hundreds when you trade in!

Does trading in a car hurt your credit?

Trading in a car certainly won't hurt your credit if you're smart about it. Again, it's not recommended to trade your car if you have negative equity. But even if your trade in value isn't higher than your loan value, your dealer might roll your loan into the new loan. If you keep up with payments, this won't hurt your credit. Make sure there aren't any penalties for paying off the old car loan too soon. That could hurt you. Otherwise, keep up with your payments, and you're golden!

How long should you keep a car before trading?

There isn't a set amount of time for how long you should have your car before trading. It depends on the trade in value and a few other factors. If you have positive equity, you can trade in your car anytime, no problem. It would help if you also considered how fast your car depreciates in value. Cars depreciate fastest in the first years, so you should keep your car for at least a few years. This way you will be getting your money's worth out of your car. You should also think of ownership costs and if your situation has changed since you bought the car. Is it still practical for its current usage? 

How is trade value calculated?

Cars are complex things, so a lot goes into calculating trade in value. But just because there are multiple factors doesn't mean it's complicated. Here are the most critical factors:

• Mileage: Probably one of the two most essential factors in determining your car's worth. If you have higher mileage, it's going to be worth less. That's how cars work.

• Condition: This is the other most important factor. It goes hand in hand with mileage, but not always. The condition depends on how often you drove the car, where you drove the car, what kinds of roads or weather the car has been through, etc. It also really depends on how well-maintained the car was throughout its life. A car that has been well-taken care of will have a much higher trade in value.

• Make and model: Some cars have higher trade in value just because of their prestige. And some have higher value because they are known to be reliable, like Toyotas. A used Lamborghini will be worth a lot more than a used Honda!

• Options or add-ons: If you bought a vehicle with more than the standard options, it would be worth more. You paid more for those fancy add-ons, so you'll get paid more when you sell them.

So, there's some basic information about trading in and determining trade in value. It's more straightforward than you might have thought! Still have questions? Come in and ask us in person! Our Ewald CJDR staff is always ready to give you the personal service you deserve. We will answer your questions and help you find the car of your dreams!