Posted Tuesday, May 10, 2022
Buckle up and hold on tight because you’re in for a crash course on how you should go about getting the most for your trade. If you’re in the market for a new or used Honda car, 4×4 truck or midsize SUV and you’re looking to trade-in your existing vehicle, consider the following. First and foremost, get a free, no-obligation appraisal online in minutes to gauge how much your pre-owned vehicle’s worth. Then consider obtaining your credit score range for free before heading on over to our trade-in value calculator. And when you’re done crunching numbers, check out our new, used, and certified pre-owned Hondas online or in person.
You can trade-in a financed car at any time. Although our seasoned finance team here at Klein Honda in Everett highly recommends waiting at least six months to a year. Here’s why. The moment you drive a new car off the lot it automatically depreciates in value, same goes for used sedan cars, pickup trucks, and SUVs as well. No matter the brand, make or model, depreciation is inevitable unless you’re talking classic cars. Either way, our entire team is dedicated to helping you get into another vehicle no matter your situation. And we’d be more than happy to answer any other specific questions you may have in regard.
Easy! After you get a no obligation appraisal either online or in person, swing on down to our used truck dealership in Everett, WA so we can inspect your car. And if you need a helping hand choosing the perfect new Honda or a new-to-you used small car, crew cab truck or compact SUV, our friendly sales associates are always more than happy to help! Then once you’ve decided on a ride, our finance team will contact your current auto loan provider to hash out the details on your behalf, so you don’t have to lift a finger! And if you’re looking to save an hour or so at the dealership, consider getting pre-approved for a new or used car loan online in advance. It’s quick, easy, and only takes a couple minutes of your time, just a few simple steps to be exact!
Negative equity means you owe more on your vehicle than what it’s currently worth. For example, let’s say you owe $15k and your car’s only worth $10k and you want to trade it in, you will be $5k in the negative which in many cases you can roll that negative equity into your new car loan. And while it’s not ideal per se, it’ll help you accomplish your goal and we’re here to help in any way we can. Even if that means offering you a little more for your trade, if possible, we’re always willing to go the extra mile for our valued customers no matter the situation, that’s the Klein Honda way!
A brand-new car can decrease in value by 20% or more within the first year of ownership. And depending on how much you put down, and how much you still owe, industry experts recommend waiting at least 1 year before you consider trading in your vehicle. Others recommend inquiring after 6 months but there’s a good chance that you’ll end up with a great deal of negative equity. The longer you wait, the better off you are within reason, just remember that every situation is unique, so your best bet is to reach out whenever you’re ready.