How Does a Car Trade-in Work?
Every car owner may outgrow their current car, which might be attributed to lifestyle changes. Whatever the case may be, our experts here at Toyota of Clermont will tell you the ins and outs of the car trade, from what to expect, what to bring, and the financial process. So, you may be wondering, is a car trade for you? Let’s find out!
What To Expect in the Trade-in process
- Call ahead to schedule a free appraisal by appointment with Toyota of Clermont’s used car director by scheduling online, calling (352)404-7000, or stopping by our dealership.
- It does not take long at all. When you arrive, the used car director will inspect your car from bumper to bumper and under the hood, taking only 15-20 minutes. They may also want to test drive it.
- In the meantime, at Toyota of Clermont, you can get a cup of coffee at our cafe and talk to a sales specialist about your options.
- By the end, you will receive a free vehicle history report on your car, along with an offer.
- Their offer is based on your Clermont Toyota car appraisal, which you can take in cash or use the value toward your new Clermont Toyota.
What To Bring To Your Appraisal
You have to make sure that you come prepared for your appraisal. Here is a list of what you need to bring for your car trade-in.
- Car Title (if you own it)
- Registration
- Every key for your car
- Loan payout information
- License
- Insurance information
Questions and answers you may have regarding the financial process.
What happens if I decide to purchase a new car from my trade-in?
Let us say that you have completely paid off the car you are trading in and want to buy a new Clermont Toyota from us. We would take the positive equity from your trade-in and apply it to your new loan. So, if your car appraisal is $7k and your car is priced at $25k, you would only owe $18k on your new car.
What if I still owe money on the car I would like to trade in?
If you still owe money on the car you got appraised, then what we may be able to do is roll your next car loan over in order to get you the best monthly payment for your brand new Clermont Toyota. So if you still owe 10k on your car and it was appraised at the value of 7K, and your new car is priced at 25k, then you would owe a total of 28k on your new car. At Toyota, we try to make the process as easy and convenient as possible, so we try our best to get you lower interest rates, making your payments more affordable.
Is a car trade-in for you?
Here are some of the perks of making a car trade at Toyota of Clermont. Find out if a car trade is the best step for you ahead.
- You do not have to find a buyer, take out consistent time to do test drives, post ads online, handle the money aspect, or complete the paperwork.
- If you decide to trade in your current car for a brand new Clermont Toyota, your new car will cost a lot less and you’ll receive a lower monthly payment in return.
- If you are still unsure, use the trade-in tool on our site in order to prepare for what you may be able to receive from your trade-in. You can also benefit from checking out Kelley Blue Book for trade-in estimates.
Visit Toyota of Clermont to get your free trade in appraisal