How to Value Your Trade at Morehead Honda – Everything You Need to Know

Morehead Honda knows the importance of valuing your trade honestly and straightforwardly. With this short guide, we’ll help you understand how trade-ins work and how to get a fair offer. If you'd like to learn more about or test drive the Honda model that interests you, please visit our dealership in Newburgh, NY.

How Does Trade-In Appraisal Work at Morehead Honda?

We offer convenience and efficiency at our dealership, making it easier and less time-consuming to trade in your vehicle with us. If you bring your vehicle in, here's what happens:

• Inspection Walk-Around: Our technicians will thoroughly inspect your vehicle, both inside and out.
• Testing and Diagnostics: Our team checks the vehicle's system performance, listens for any issues, and runs diagnostics to identify dashboard warnings if any exist.
• Background Check on the Vehicle: The ownership history and maintenance history of the vehicle are verified using Carfax.
• Market Comparison in Real-Time: When determining the current selling prices of similar models, our team utilizes reliable platforms, including Kelley Blue Book, Black Book, and current auction data.

This results in a trade offer based on the current market value of your vehicle.

Value Your Trade - Online Trade Tool at Morehead Honda

Getting a ballpark estimate is possible before you even set foot in the dealership. Complete our Value Your Trade form with your Vehicle Identification Number (VIN), mileage, and other relevant details. Our trusted sources, like KBB, will provide you with an instant online estimate.

Keep in mind that online tools can't see your actual vehicle. It is always recommended that you stop by for an in-person appraisal to get a final number.

Trade Value: What Does It Mean?

Trade value refers to what a dealership will pay you for your vehicle, typically as a credit toward the purchase of a new or used vehicle. This isn't the same as what you paid or what you received from a private party. Essentially, it's what your vehicle would be worth on the used market if the dealer hadn't reconditioned it.

What Affects Trade-In Value?

Here's where things get a little more specific. Your vehicle's appraisal is based on several factors:

• Year, Make, and Model: For example, a 2024 Honda CR-V holds its value better than a 2012 minivan.
• Mileage: A vehicle with a lower mileage is almost always more valuable – unless it's been neglected and sitting idle for a long time.
• Condition: Wear and tear, scratches, dents, and warning lights all contribute to a decrease in the vehicle’s value.
• Market Demand: Generally, trucks and SUVs tend to be more popular than sedans and minivans. It affects the price a dealer is willing to pay.

Tips to Boost Your Trade-In Value

You can make sure your vehicle is in excellent condition before you bring it in by following these steps:

• Make Sure It's Clean: Washing and vacuuming the interior can go a long way in improving the overall appearance.
• Fix Minor Issues: It is easy to replace burnt-out light bulbs and check for low tire pressure.
• Bring Your Maintenance Records: Maintaining your vehicle shows that you take good care of it.
• Don't Wait Until the Warranty Expires. Trade in now if your warranty is about to expire (or you are close to a major service).

Trade-In Your Old Vehicle at Morehead Honda

Are you ready to discover the value of your vehicle? Let Morehead Honda evaluate your trade-in with no pressure or guesswork. We'll ensure you get a fair deal. Visit us in Newburgh, NY, today.