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Trading in your car: get its value in writing first
The short answer
Get written offers for your current vehicle from several buyers and compare their conditions and expiry dates. Keep the replacement vehicle and the trade-in as separate line items, then compare the combined total, including loan payoff and applicable tax treatment.
Keep the two numbers separate
Ask for the new vehicle’s out-the-door price and the trade-in offer separately. Compare both with independent quotes so the combined payment does not hide a difference in either price.
Get appraisals before you mention a trade
Obtain written appraisals from multiple buyers, including any online or dealer offers you want to compare. Check inspection conditions, expiry and fees before using the best complete offer as a reference.
Ask the dealer to match
Once the purchase price is in writing, share a real written trade-in offer from another buyer. Ask the dealer to match it, then compare selling separately with the combined transaction, including applicable taxes and fees.
Prepare the car for appraisal
Prepare the car, service records and keys for appraisal. Ask how specific repairs affect the offer before spending on them. Remove personal data, toll tags and garage controls before handing over the vehicle.
Tell us what you’re planning and what you’d love.
Businesses reply with offers built around you, including what they can add.
Start a requestQuestions people actually ask
- Is trading in worth it vs selling privately?
- Compare written trade-in offers with a realistic private-sale price, transaction costs and your time. Check local tax treatment before choosing separate transactions. Use the combined cost of the replacement and sale to decide.
- The dealer says my appraisal expired. Now what?
- Check the offer’s expiry and request an updated appraisal when needed. Compare the new written amount and conditions before committing to the replacement vehicle.
- Do modifications hurt my trade-in value?
- Ask buyers how modifications affect their appraisal and compare the vehicle with and without any reversible changes. Weigh the removal cost against actual revised offers rather than assuming the work will pay for itself.
- Can I trade in a car I still owe money on?
- Get the current loan payoff and compare it with the trade-in offer. Ask how any remaining balance or equity appears in the replacement transaction. Compare the total borrowed and repayment terms before rolling a shortfall into another loan.