Benefits of Trading in Your Car[]
Car shoppers often find the trade in process at the dealership efficient because dealerships take care of the paperwork for your current and new car in one visit. Car dealers will appraise your car and make you an offer that generally goes towards your new car purchase. If you accept the offer, the deal can be concluded by signing over your trade-in vehicle's title.
By working with a single dealership, you can handle the entire trade-in and new vehicle purchase process in one location! All of your communication, new-vehicle shopping, and vehicle financing decisions can be completed simultaneously.
This occurs when you owe less than the market value of your car. For example, if your vehicle is worth $15,000 market value and you still owe $10,000, this puts you at a positive equity of $5,000. Having positive equity before trading in a vehicle is ideal.