If you have a vehicle in Plano, Texas, that you want to replace, consider trading it into Huffines Chevrolet Plano. Our dealership is a popular choice among car owners in the Plano area looking for a great trade-in deal. We not only give you a hard-to-beat offer for your vehicle, but we also have a quick and smooth trade-in process to help you save time and hassle. If you're unsure about trading in your car and want to know how it works beforehand, check out this list of frequently asked questions to make an informed decision:
How Does a Trade-In Work?
Chevrolet by Mike Mozart is licensed with CC BY 2.0
Trading in a vehicle means selling it to an auto dealership for credit you can use to purchase another vehicle. You can trade in any vehicle that has value, whether it's the car you currently drive or an extra one you seldom use. You can use the trade-in value as a down payment for the vehicle you're buying. This reduces the amount you need to borrow to finance the car, resulting in more affordable monthly payments.
However, depending on the ownership of your trade-in vehicle, you may or may not get credit toward your next car. If you're the outright owner of your vehicle, then the cost of the new car will be reduced. In contrast, if you still owe money on your auto loan, you'll have to either pay the outstanding amount in cash or roll it into your new loan. In this case, a trade-in may raise or lower the cost of your car purchase, depending on your car's value and the remaining balance on your old loan.
What Are the Benefits of Trading In a Vehicle?
The main advantage of trading in your current vehicle is that it makes your next car more affordable. The more you can get for your trade-in, the less you'll have to finance. This can lighten your financial burden and give you more cash to spend every month.
It's also worth noting that a trade-in can reduce the sales tax you need to pay on your new vehicle. In Texas, the trade-in value that goes toward the purchase of a vehicle isn't taxable. The savings can be substantial if your old car has a high market value.
Further, opting for a trade-in is an easy and convenient way to get rid of your old vehicle. You don't have to advertise your car, answer phone calls and messages, and set up meetings with potential buyers. A dealership can take your vehicle off your hands in as little as a few hours, whereas selling it on your own can take weeks or even months.
How Can I Figure Out My Car's Trade-In Value?
You can easily figure out your vehicle's trade-in value using the online trade-in valuation tool available on the Huffines Chevrolet Plano website. Just enter some basic information about your vehicle, such as its make, model, age, mileage, and condition, and you'll receive an estimate instantly. Alternatively, you can take your car to our dealership for an inspection and appraisal.
How Can I Get the Most Out of My Trade-In?
To get the best trade-in value, you need to ensure your vehicle looks its best. Repair any dents or scratches and clean the exterior and interior to make it look as appealing as possible. After you've completed these steps, check other parts of your car to see whether they're working as they should, such as the headlights and taillights, brake lights, turn signals, power windows, and climate and audio systems. Also, don't forget to fill the fluids to the proper levels.
What Documents Do I Need To Bring When Trading In My Vehicle?
Trading in your vehicle is a simple process, but you should bring all the required documents with you to avoid any unnecessary hassle. The following is a list of documents you need to provide when you come to our dealership:
- Car title:Â This is your proof of car ownership that you have to sign over when you trade in your vehicle.
- Driver's license:Â A driver's license is required to verify your identity.
- Service records: These records will show whether you've been keeping up with your auto maintenance schedule, which can help us evaluate your car's overall condition.Â
- Loan documents:Â If you haven't paid off your vehicle, you'll need to bring your loan documents, as well. In this case, your car title should be in possession of your lender, but we help you get it back.
How Do I Begin the Trade-In Process?
Starting your trade-in process is as simple as contacting Huffines Chevrolet Plano and scheduling an appointment. Once you arrive at our dealership, our experienced team will handle all the necessary legwork and paperwork.
What Can I Expect at the Dealership?
When you trade in your vehicle at our dealership, we first run a vehicle history report on it. Then, our appraiser will inspect your car to determine its value, which may include taking it for a test drive. After we've determined the value of your vehicle, we make you a trade-in offer, which you can accept or reject. If you accept our offer, you can proceed to choose something from our amazing new Chevrolet inventory or extensive pre-owned car selection.
Can I Trade In a Financed Car?
You'll have no trouble trading in your car even if you still owe money on it. We simply buy the vehicle and pay off the remaining amount on your car loan. If you have positive equity, you can use the difference to reduce the cost of your car purchase. However, if you're upside down on your loan, be prepared to pay more for your next vehicle.
Huffines Chevrolet Plano is one of the best places to trade in a vehicle in the Dallas-Fort Worth metropolitan area. Not only will you get top dollar for your trade-in, but you'll also have a wide selection of high-quality and competitively priced vehicles to choose from. Contact us today to schedule a trade-in appointment.