a”It’s always worth considering financing through the dealer,” as well, says Newman, since the dealership profits on those loans and may have some room to negotiate. Just be sure to check with your bank or another preferred lender first — they might offer even better terms.
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Remember: There is a supply crunch. So if you have a car to sell or trade in, you are in possession of a highly in-demand asset that’s probably worth more than you think. Make the most of it! The average trade-in in November was worth roughly $23,000; up an astonishing 50% year over year.
Before agreeing to a dealership’s trade-in offer, shop the vehicle around to ensure you’re getting a fair price. “If I have a Ford to trade in, I’d go to a Ford dealership and see what they’d pay to buy it outright,” says Newman. Ask some local used car lots to make you offers as well. Selling the vehicle may seem like more of a hassle than using it as a trade-in, but you could wind up with hundreds or even thousands of dollars more by taking that extra step.
