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Swapping: What Buyers Need to Know when Trading in a Car

By Erwin Calverley Subscribe to RSS | February 23rd 2012 | Views:
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Every car has a definite value regardless of condition and features. Fortunately, this value can be used as part of the payment for a newer car. The method is called trade-in. Many car dealerships engage in trade-in transactions to allow buyers who have insufficient funds yet want their cars replaced by a newer one without having to obtain financing. That way, they will not worry about monthly payments, late fees, and extra charges. They practically pay in full right away.

Trade-in vehicles are usually of lower value. After all, no buyer would want to buy a car which value is lower than that of what he has. He would desire a newer and better performing unit. Trading in a vehicle for a new car follows the typical buying process, except that part of the payment is the used car. The old car pays for a huge fraction of the overall cost of the new vehicle, leaving the buyer with a minimal and manageable remainder.

Buyers are advised to have his trade-in vehicle appraised before going to the dealership. A car’s value is determined through its current condition, features, make, and model. To avoid confusion and unfair quotes, it would be better to call a professional technician in big cities like Indianapolis who can determine the value of the car properly and accurately.

The dealership will also conduct an inspection and valuation of the vehicle. The buyer can use the results of the initial valuation conducted by the technician he hired as reference should there be any dispute or negotiation. Car dealerships put high value to branded vehicles like the ones offered by Indianapolis Ford dealers. Brands are indicative of high quality that lasts. Most car values are close if not exactly the same as their book value counterparts.

If the car to be traded in is encumbered by a loan program, for instance, the buyer should pay off the loan to get the lien on the car. A lien is a form of security interest granted over the car to protect the owner, who, in this case is probably a private party or an Indianapolis Ford dealer.

Simple maintenance and repair on the car can improve its value, making it a good deal in exchange for one of the many Indianapolis cars for sale in the dealership showroom. The little amount the buyer will spend for reconditioning the car will have a huge impact on the total cost of the new car.

Erwin Calverley - About Author:
For more details, search Indianapolis Ford, Indianapolis Ford, and Indianapolis cars for sale in Google for related information.

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