Vehicle Trade-in FAQs

Drivers near Harrisburg, Mechanicsburg, and Hershey, PA—are you looking to trade in your car but have a few questions that you would like to have answered? Our team at Faulkner Honda is here to give you a hand! We’ve put together this page of vehicle trade-in FAQs (frequently asked questions) that we receive from our customers, so drivers like you can learn more about what is involved in the car-trading process.

If you’re ready to find out how you can trade in your vehicle, take a moment to read on for more information.

Why Should I Trade My Car?

The first question you may have might be the obvious one—why should I trade in my car? For many drivers, there are multiple benefits that come with taking your current set of wheels to a dealership. One big reason is that the trade-in value can be used as a down payment on your next mode of transportation. By doing this, your loan and monthly payments can be noticeably lower.

Another benefit is that our team will help you with the process, which will make it quick and easy. During a single, brief visit, you can set up your contract and drive home in your new favorite car. If you were to attempt to sell your ride to a private buyer, things could take quite a bit longer. For example, you would have to advertise it on your own, show the vehicle to prospective buyers, and wait to receive your preferred offer.

Can I Trade in My Car for a Lease?

If you’re interested in a lease, then get ready—you can trade in your car for a lease. How can you do this? Well, you can take your payment from the trade-in and put it toward a lease. This will lower your monthly costs.

In fact, you can even apply your trade-in value to the amount due at signing, if that’s something that you would prefer to do.

Are you interested in learning about some of the benefits that can come with leasing? Here are a few that might be of interest to you:

• You don’t have to pay the full amount for the car
• You can try out a new model, without committing to it long term
• You can easily exchange your vehicle at the end of the lease

In the event you have any questions about trading in your car for a lease, our finance team is at your disposal to assist you in any way they can. Don’t hesitate to inquire further about this exciting process!

What Affects My Trade-in Value?

When we’re calculating our offer, there are several things that we will be taking into consideration. Some of those factors include:

• Your vehicle’s mileage, odometer reading, and fuel efficiency
• Your vehicle’s condition, both internal and external
• What kind of features does your vehicle have? This can include technology, safety, and more.

These factors are considered when we take a look at your current on-road companion. Based on these things, the better condition your car is in, the higher the offer that we will be able to provide for you.

How Do I Find My Trade-in Value?

We offer online resources to make it easier for you to decide how to finance your vehicle. One of these is the Value Your Trade tool, which will help you get an estimate of your vehicle’s trade-in value.

This tool will ask for information about your current vehicle, such as:

• Year
• Make
• Model

You will also be required to enter certain information, like the mileage and the condition. If you want, we allow you to attach pictures, so we can have an accurate idea of your car’s condition. However, this is optional.

After using our Value Your Trade tool, you’ll get an estimate. However, you won’t receive an official trade-in offer until the car is evaluated in person.

Is There Anything I Can Do To Boost the Trade-in Value?

There actually are a few ways that you can improve your vehicle’s trade-in value. Before you bring it in to the dealership, consider taking some time to do some cleaning.

Polish the windshield and all the windows, wash the exterior and the interior, and vacuum or shampoo the carpets as needed. You might also have any dents and scratches repaired. Making sure all features and light bulbs are in proper working order is another good way to get that trade-in value as high as possible.

When Is the Best Time To Trade In a Model That’s Being Financed?

While you can trade in your ride at any time, it is generally recommended that you wait at least a year after obtaining it. Three years is the standard period of time to wait for a vehicle that’s still being financed. A good way to determine what’s best for you to do is to periodically check to see what your car is worth.

What Should I Bring With Me to the Dealership?

As you’re getting ready to leave for the dealership with the purpose of trading in your daily driver, be sure to take along the vehicle title, the current vehicle registration, and any keys you have for the car. In addition to these items, you might consider bringing any maintenance records you have. These would be helpful to show that the vehicle has been properly taken care while it has been in your possession.

What Happens to a Car After it’s Traded?

A lot of models that have been traded into a dealership stay right there on the lot to be sold as pre-owned vehicles. Others are sent to auction to be purchased and resold by other dealers.