Trading in a vehicle can help negotiate the price of a new car significantly. Plus, having good trade-in value for a vehicle helps auto insurance providers know you’re a good client. This is because a high trade-in value tells insurance companies that you’re good to your vehicles.
However, after you pass the keys to your beloved old ride along, what happens to it? The afterlife of a trade-in might not be what anyone expects.
Wholesale auctions are usually where trade-ins, of all kinds, end up. It doesn’t matter if the car is a beauty or a beater, they pass through the dealer yard quickly. This is because the dealer doesn’t want the trade-ins to take away from the brand they’ve built. Even if the previous owner made their ten-year-old Chevy look brand new, the Mustang dealership won’t want it hanging around. The reason being, is the Chevy, especially in good condition, reminds customers there are other options.
So, while you’re looking for car insurance near me that’ll take on a mid-life sports car purchase for cheap, the trade-in is destined for a wholesale auction. However, that doesn’t mean that old-faithful is being put out to pasture. Instead, through the quick, cheap forty-five-second auction, your old car could be driving toward a whole new life.
In 2017, over six-million used cars were sold in the United States. This means that the afterlife of a trade-in is usually the beginning of a new life for the car. Truthfully, it’s usually not going to be showcased on the lot of the dealer you traded it in to. However, there’s a good chance it will be showcased somewhere else within a few days. Used car dealerships have sold more than new car dealerships in recent years. This bodes well for the afterlife of your trade-in.
In summation, while your journey with your old car might be finished, that doesn’t mean the trade-in of your old car is finished. It only means that both you and your old car are starting new adventures. Car owners should be comforted by the fact that their old cars are likely going to have a long and happy after-life. Since recently used car statics show that being traded in likely is only the beginning for both car and previous owner.