If you are looking for a new car, you might be wondering what to do with your old one. One option is to trade it in at a dealership and use the value of your old car as a deposit for your new one. This can save you time and hassle, as well as reduce the amount of money you need to borrow. But how does trade in work? Here are some tips and steps to follow.
1. Know the value of your car. Before you go to a dealership, do some research online and find out how much your car is worth. You can visit our website to get a free evaluation. This will give you an idea of how much you can expect to get from a trade in.
2. Check the condition of your car. Before you trade in your car, make sure it is in good shape and clean. Fix any minor issues like scratches, dents or broken lights. Wash and vacuum your car and remove any personal items. A well-maintained and tidy car will make a better impression and fetch a higher price.
3. Have all the necessary documents ready. When you trade in your car, you will need to provide some documents to the dealership, such as:
- Your identity document or passport
- Your driver's license
- Your vehicle registration certificate
- Your proof of address
- Your service history book
- Your bank details
Make sure you have all these documents ready and up to date to avoid any delays or problems.
4. Transfer the ownership of your car. Once you have agreed on a trade in price and signed the contract, you will need to transfer the ownership of your car to the dealership. This involves filling out a notification of change of ownership form (NCO) and submitting it to your local licensing office within 21 days of the sale. You will also need to pay a fee for this service. The dealership will then register the car in their name and pay the roadworthy certificate fee.
5. Enjoy your new car. After you have completed all the steps above, you can drive away with your new car. Make sure you understand the terms and conditions of your new contract, such as the interest rate, monthly payments, duration and any extras or fees. Keep up with your payments and service your car regularly to maintain its value and performance.
Trading in your car can be a convenient and cost-effective way to get a new car. However, it requires some preparation and research to get the best deal possible. At Kelston Motor Group, we welcome trade-ins. Explore our website to find a car that meets your brand preference, lifestyle, and budget.
