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We Will Buy Your Car!
At Mercedes-Benz Oakville, we believe in making your car shopping and car buying a pleasant experience. One way we make that goal achievable for our Milton customers is by offering a hassle-free way to sell their used cars. Not everyone has the time or desire to become a private party seller — and that’s where Mercedes-Benz Oakville 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.
What is the Trade-In Value of My Car?
If you’re wondering, “What is my used car worth,” the answer is just a few clicks away! Our user-friendly Value Your Trade-in calculator will give you an estimate of your vehicle’s trade-in value, all from the comfort of your home or office. Simply enter the information you’re asked for, as well as your contact information, and an estimate will be on its way to you in no time. Keep in mind, there are a few factors that affect trade-in value, including:
- Mechanical condition
- Car features and options
- Exterior/Interior condition
- Market landscape
How Do You Trade in a Car?
After you’ve received an estimate, it’s time for an appraisal of your vehicle! Our Oakville dealership will do this for you. We’ll inspect the condition of your vehicle to ensure it’s a good fit for our used car inventory. When you come in for your vehicle’s on-site 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 negotiate at a dealership. We encourage our customers to do their own research to ensure they’re getting a fair market value for their trade.
- 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 one.
Value Your Trade-In: FAQs
Q: Can you trade in a financed car?
A: Yes, you can. If you have positive equity on the car (for example, it’s worth more than what you currently owe), you can trade it in. 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 (for example, it’s worth less than what you currently owe), the dealer may still buy the vehicle 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 before a trade can take place.
Q: How soon can you trade in a financed car?
A: There’s no time limit, but it’s a good idea to wait until you have positive equity.
Q: What does it mean to be “upside down” on a car loan?
A: 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 of approximately $5,000.
Q: Can I trade in my car for a cheaper car?
A: 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.
Make Mercedes-Benz Oakville Your Automotive Partner Today!
If you have questions about how to trade in a car that is paid off, or how to get the best possible offer, don’t hesitate to contact us online or give us a call at 905-845-6623. While you’re here, be sure to browse our current new and pre-owned vehicle inventory and start shopping for your next Mercedes-Benz!