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What is trade value?

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Should I scrap my car?

If you’ve ever heard the term ‘trade value’ and you don’t have a clue what it means, then not to worry as the great news is we’re about to tell you exactly what it means and how it works.

What is trade value?

You might have heard people talking about trade value or trade-in value and basically this is just the amount of cash that a dealership will offer you so that you can put it towards a new car, in return for you handing over your current car. If you’ve never done a transaction like this before it can be fairly simple and straightforward. You just trade-in your old car and walk away with a new one. This is all done within the same transaction too. However, if you’ve never done this before, it can get confusing due to there being several different transactions all within one.

How much will I get?

If your vehicle has value then you’ll definitely get some cash. However, the amount you will get can vary and is based on various different factors. Your trade-in value is largely determined by the current condition and state of your car as well as the demand for that make and model at that time, so it’s a good idea to make sure that your vehicle is looking its best. It’s also important to think about your negotiating skills as this can have a part to play too. Due to the multiple transactions going on all at the same time, this can make it difficult for you to establish whether you’re getting a good deal or if you’re better off going elsewhere. So when you get to the dealers, make sure that you’re on the ball and prepare incase you need to negotiate. If you’ve scratched up on your negotiating skills beforehand, then you should be ok when it comes to making every attempt that you can to get the best price you possibly can for your vehicle.

How it works

Basically, when you turn up at the dealership ready to trade-in your car, you will agree on a price with the dealer, that’s if you haven’t already done so with them beforehand, and this price is subtracted from the price of the new car that you’re purchasing. It might sound complicated but it’s easier than you might think. All you need to do is make sure that you’re getting a good deal for your current vehicle, as well as the one that your purchasing. If you can do that then it’s a win-win all around. If you’re looking at purchasing a new car and want to get rid of your old one quickly, then a trade-in might be a good option for you. But whether you’ll get a good price or not is debatable. Some people often get much less than their car is worth and quite an unfair deal without realising it. So if you want to make sure that you’re getting the best price possible, you can get a free valuation for your car right here with Jamjar. It’s simple, easy and a lot quicker than going to the dealership and trying to succeed with a good trade-in. All you have to do is simply enter your reg number and we’ll get you a whole list of offers from the best UK car buyers within the UK. We’ll show you all of the details for each offer, with no hidden fees or conditions. You’ll have all the information that you need right there in front of you to enable you to make the best decision for your vehicle.

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