You might be surprised to learn that, when trading in your used vehicle, timing could be one of the biggest keys to maximizing your trade’s value. Most people would never consider the time of the month or year in determining whether now is a good time to trade for a new car. They’ve seen a flashy new car commercial on the television, or saw a dazzling new vehicle pass them on the highway, and they’ve headed right down to the dealership to see what they’d have to pay to own one. Or perhaps they’ve suffered long enough with an old vehicle that no longer suits their needs (perhaps it is too small for a growing family) or that is facing an expensive repair – a car they just want to be rid of.
But, believe it or not, your car might be worth more tomorrow – or next week, or next month – than it is worth today.
Consider the vehicle you’re about to trade in, and ask yourself whether – as a used car – it might be a seasonal impulse purchase for the dealer’s prospective buyer. That can make your trade-in worth more money now (or later) than it might be at other times of the year.
For example, if you are now driving a 2003 Mazda Miata, spring and summer could be your best time to trade for something else. That spiffy little convertible is going to look great sitting on the front row of the dealership’s used car lineup as potential buyers drive past the lot on a sparkling, 80-degree weekend. It’ll practically sell itself.
On the other hand, unless you live in a part of the country where it is warm virtually year-round, that Miata won’t be very appealing in November or December. The dealer is very aware that the car could sit in his inventory until the temperatures warm up again – making top-down motoring a joy – and it’s possible he’ll offer less for your Miata if you try to trade it on Thanksgiving weekend than if you bring it by next Memorial Day weekend, even though the car will have more miles on it by then.
Conversely, a four-wheel-drive truck or SUV could have its highest appeal to buyers when the weather gets the worst. An ideal time to trade in that Explorer 4×4 might be right after the winter’s first big snowfall, when motorists all over town were getting stuck in the drifts with their two-wheel-drive cars.
So seasonal timing makes sense when trading in your used vehicle.But time of the month or even time of the week or day might make a difference in your favor.
Like most businesses, car dealerships measure their periodic success by their monthly sales goals. Trading in your car at the end of the month might help you get a better offer, if the dealership is a little behind on its sales quota or just wants to finish the month on a strong note. The used car manager might give you more for your car to make sure their new car gets sold today – on the last day of the month – rather than next weekend, when a new month’s sales goals (and potential bonuses for managers) are on the ticker.
Picking the right day of the week also can help on your trade-in value. A dealership’s busiest day is usually Saturday. That’s when the most people have the time to car-shop, and when a majority of the deals get done at many dealerships. Trading-in your car on a Saturday means the used car manager is probably pressed for time and might give your vehicle a less-thorough examination than he would on a day when you’re the only customer on the lot. If your car is of marginal trade-in value, a cursory inspection by the manager could be to your advantage. If your trade-in is an exceptional vehicle, you might rather trade it on a day when you and the used car manager have plenty of time to walk around it, inspect it, and negotiate the highest value he’s willing to pay.
Finally, the time of day can actually make a difference in what kind of deal you get on a new car, or when trading-in your used vehicle.
Human nature dictates that, early in the morning or at the height of the day, most sales managers might have more energy to wrestle with you over the value of your trade-in, and be more inclined to haggle for a lengthy period before settling on a price. Conversely, many a good deal has been nailed-down at the tail end of a business day. If you make it apparent to the salesman and the sales manager that you’re serious about trading for a new car today – even though the hour is getting late – they’ll probably cut to the chase much quicker than they would earlier in the day, so the deal can be done and you can all get home for dinner.
When determining and negotiating the highest possible value for your trade-in, you should use every tactic possible to sway the deal to your advantage. And choosing the right time of year, time of the month or even time of the day to bring your trade-in to the dealership can be one way of achieving maximum trade value.
Tags: Car trade-in