10 Tips for Getting the Most Out of Your Trade-in

When it's time to buy a new car, there's a lot on your mind.  After all, you've researched, done test drives and finally arrived at "the one." It's easy to forget about your old car, so I've put together a few quick tips that will help you get the most from your former ride.

1. Keep your car clean. Many of us live in our cars.  In time, that lived-in feel can be a bit much.  Keeping up with regular car washes and cleaning the interior of the car can add life to the car that will show up when you get your car appraised.

2. Detail your car.  I know that this tip a close relative of tip #1, but it can be a money maker when it comes to trade-in time.  A good detail will cost between $100-$150.  The detailing process means going over the car with a fine-toothed comb.  When your car is done, the outside will shine, the inside will smell delicious and the manager appraising your car won't even be able to find a stray crumb.  You're guaranteed to get your money back on the detail, but the reality is your car's value will rise hundreds of dollars if it looks impeccable.

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3. Get regular oil changes. Pay attention to your vehicle's maintenance minder system, which alerts you when your oil is dirty and needs a change.  If your vehicle is 10 year's old or older, you may want to stick with the 3000 mile recommendation, but newer vehicles don't need the oil changed that often.  If your car doesn't have a maintenance minder system, check your owner's manual for details. Even with improved lubricants and tighter tolerances in the engine itself, oil does eventually gets dirty which can clog the engine and devalue your car.

4. Get all factory recommended maintenance done, including any replacements for manufacturer recalls.

5.  Bring records of what work you've had done on the vehicle.  This process is simplified if you bought the car new and always had it serviced at the manufacturer's service department since they keep records on your car for you.  But even if you've taken your vehicle elsewhere, bring receipts of the most recent work.  Have you already replaced the timing belt and water pump?  Now the dealership won't have to and that's money back in your pocket.  Did you get new tires or brakes recently? Providing receipts of the work you've had done shows you care about your car and will translate to a higher value.

6. Don't crash.  Or at least get the damage fixed right.  A $99 paint job is going to show badly at trade-in time.  Take your vehicle to a reputable repair shop and request OEM parts.

7. Fix rock chips in the windshield.  Like getting your car detailed, making sure your windshield is free from cracks and dings guarantees you your money back, plus some.

8. Bring in all keys, remotes, owners manuals and floor mats.  These are things the dealership will have to replace and will cost them time and money.  Having everything in order to hand over assures you the most money for your car, partly by reducing the headache the dealer has to go through.

9. Buy a car that holds its value. One of the reasons that Honda vehicles hold their value so well is that Honda refuses to sell fleet vehicles to car rental companies. Car rental companies generally get brand-new cars and resell them in a year.  Because these are high-milage, heavily used vehicles, they sell significantly below a true resale value, but because virtually all car rental companies resell vehicles at the same time, the market becomes flooded with devalued vehicles, thereby making your car lose value just by association.

10.  Don't get a trendy color.  Trendy colors are great for purses, jewelry, and home decor--not for cars.  A trendy color (think pea green) can make a car sale-proof and devalue a car thousands of dollars as compared to non-trendy counterparts.  White and silver may be boring, but they also appeal to a broader range of consumers making it easier for the dealership to resell and that difference goes to your wallet.

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