Value Your Trade
Sell Your Car to Mercedes-Benz Newmarket and Maximize Your Return!
At Mercedes-Benz Newmarket, we believe in making car shopping and car buying as easy as possible. One way we serve our Newmarket customers is by offering a hassle-free way to sell your car to our dealership. Not everyone has the time or desire to become a private party seller — and that’s where Mercedes-Benz Newmarket comes in. We will buy your car, so you don’t have to worry about posting ads or screening buyers. Then, we’ll help you put your car’s value toward the new or pre-owned vehicle you truly want. And if you’d like cash, no worries! We can accommodate! In the meantime, take a moment to learn about the factors that determine value when you trade in your car, and to learn about how to trade in your car using our tool!
Determining the Trade-In Value of Your Car
If you’re wondering, “What is my used car worth,” the answer is just a few clicks away! Using our handy value your trade-in calculator, you can get an estimated car trade-in value from the comfort of your Aurora home or office. Simply input some information about your car into the trade-in value calculator, as well as your contact information, and you’ll have an estimate right away. Keep in mind, when you trade in your car, there are a few factors that affect trade-in value, including:
- Mechanical condition
- Car features
- Exterior/Interior condition
- Market landscape
How to Trade in Your Car
After you’ve received your trade-in estimate, it’s time for an appraisal of your vehicle! Our Newmarket dealership can take care of this step for you. We’ll examine the condition of your car and make sure it’s a good fit for our used car inventory. When you visit for your car’s appraisal, be sure to bring your trade-in estimate! Once we’ve examined your car, you can negotiate or accept our offer and finalize the sale. We pride ourselves on offering the fairest possible offer on trade-in vehicles, aiming to make the trade-in process transparent and simple. In fact, there are a couple of major advantages to selling your car to a dealership, including:
- You can haggle at a dealership. We encourage our East Gwillimbury customers to always do their own research to make sure they’re getting the most reasonable trade-in offers.
- Can you trade-in your car if you still have a loan balance? You can with a dealership. If you’re upside down on your car loan, you can consolidate what’s owed on your current car with the price of your new ride.
Value Your Trade-In: FAQs
- Q: Can you trade in a financed car?
- A: Yes, you can. If you have positive equity on the car (as in: it’s worth more than what you currently owe), you can sell your car easily. The dealer will purchase the car and pay off the loan, and then, they’ll put what’s left toward the new vehicle price, giving you a major advantage. If you have negative equity on the car (as in: it’s worth less than what you currently owe), the dealer may still buy the car and pay off the loan, but the difference will be rolled into your new car loan — meaning you’ll still need to pay it off eventually.
- Q: How soon can you trade in a financed car?
- A: There’s no time limit that’s set in stone, but it’s a good idea to wait until you have positive equity.
- Q: What does it mean to be “upside-down” on a car loan?
- A: Being “upside-down” on a car loan is the same thing as having negative equity. If, for example, you owe $30,000 on a car that’s worth $25,000, you have negative equity.
- Q: Can I trade in my car for a cheaper car?
- A: If you still owe money on the car, you can trade it in for a cheaper one. If, for example, you owe $15,000 and the car is worth $20,000, the dealer can purchase the car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you don’t owe money on the car and own it outright, there’s nothing stopping you from trading it in for a cheaper car; you can do what you’d like with it.
Sell Your Car for Cash or Credit at Mercedes-Benz Newmarket!
If you have questions about how to trade in a car that is paid off, or why you should sell your car to a dealership over a private buyer, don’t hesitate to contact us online or give us a call at 905.853.6868. While you’re here, be sure to browse our current new and pre-owned car specials to start shopping for your next great offer near Aurora! Don’t forget to explore our finance and insurance guides for helpful reads on the difference between used and certified pre-owned models and more!