Ready to trade-in your car and drive off in the car of your dreams today? Chevrolet Of Palatine believes in making car selling, trading-in, and purchasing process as easy as possible. Whether you are looking for a new Chevrolet or used car, truck, or SUV, you’ll receive top dollar for your trade-in when you do business with us. Keep reading to unpack all the benefits of trading-in your car at a Chevrolet Of Palatine.
Not everyone has the time or desire to become a private party seller — and that’s where Chevrolet Of Palatine 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. Benefits of trading-in your car at Chevrolet Of Palatine includes:
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 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, there are a few factors that affect trade-in value, including:
After you’ve received your trade-in estimate, it’s time for an appraisal of your vehicle! Our Palatine 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 customers to always do their own research to make sure they’re getting the most reasonable trade-in offers.
Can you trade in a car you still owe on? 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.
Yes, you can. If you have positive equity on the car (as in it’s worth more than what you currently owe), you can trade it in easily. The dealer will purchase the car and pay off the loan, 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.
Fair Market Value is the amount you might reasonably expect to receive if selling privately.
Yes, your trade-in value will be deducted from your down payment and/or monthly payment.
There’s no time limit that’s set in stone, but it’s a good idea to wait until you have positive equity.
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.
Generally, it is recommended to wait until you have positive equity.
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.
Dealers can generally offer you more money with a trade-in, offer additional incentives, and aren’t a liability like an independent party may be.