Pre-owned Car Buying Made Simple – Part 3

This is the final entry in a three part series where we provide you with an in-depth look at the Pre-owned car buying process. The previous two articles contained valuable insight into the basics of pre-owned car buying, and if it is a good time to sell your vehicle. Our third article explains how to make the deal work for you.

Making the deal work for you
According to the National Automobile Dealers Association (NADA) the resale and trade-in values for well-maintained late model vehicles is at an all time high. This trend is in response to increased demand by consumers for pre-owned cars with reliability and longevity.

When you decide to sell, or trade-in your vehicle to a dealership remember three important pieces of information.

1. The nature of business and customer service: Individuals did not go into business to lose money, and no matter how long ago they started, the companies they built still deserve to make a profit. With that being said, the dealership should make every effort within reason to accommodate the customer in order to make a long lasting relationship. It has always been and will always be easier to sell to someone you have already sold to rather than finding a new customer.
2. Market values: Everything related to business is based on market values or supply and demand. If the vehicle you own is in high demand, then you may be able to get a high value for it. If the vehicle you own is not in high demand, then you will probably not get much for it. Your car may hold significant emotional value to you, and be worth quite a bit in your eyes; however, that emotional value does not change the actual value of the vehicle, and what a dealership could get one for at an auto auction.
3. Common courtesy: As the dealership should strive for a strong value of customer service, the customer should also strive for a strong value of courtesy. Although some dealerships may try to take advantage of you, that is not the case for all dealerships. It is in your best interest to build a strong relationship with the dealership just as much as keeping you a loyal customer is in theirs.

Above all else, please remember that behavior breeds behavior and if either party is too rigid, uncompromising, and unwilling to understand the facts; then the deal will suffer and a valuable partnership will be lost.


What have you thought of our series on preowned car buying? What suggestions do you have for making the deal work for you? Tell us on our comments page.