Trading in Your Old Car
One very common question I get: “Do you take Trade-Ins?”
The short answer is “yes”! We are always looking for nice used cars to recondition and re-sell at the Subaru and Mitsubishi dealership I work at in Fresno, CA. We might just take your old car to help you buy a new one and send the trade-in to the auction. In California, here’s how it works when you trade in a car:
Price of New Car + Tax & DMV fees – value of your trade-in = amount you owe for car.
What if I Owe Money On My Trade-In?
We will pay off the existing loan. At the same time you sign papers taking ownership of your newest car, you will sign papers transferring ownership of your old ca and authorizing us to payoff your loan.
How Much Can I Get for My Trade-In?
People get excited at the thought of what they will get for their car. Usually it’s less than they thing. After all, they’ve put a lot of money into it and it looks perfectly normal to them. Trading in a car is mostly for convenience. At a dealership like the one where I work, we are required by law to do a smog test and safety check on every car we take in if we’re going to re-sell it to the public. Then we have to re-sell it at a profit after paying the shop for any repairs and the detail shop to clean up all the spills, and old french fries in the cracks along with dents, dings and scratches. If you want a tool to gauge what you will get for your car, contact me through “Ask Ed” on this page.