How to Calculate Your Car's Trade-In Value?

If you have questions about when to trade-in your car to get its' best value, how to determine the trade-in value of your vehicle, or how a dealership determines the value of your trade-in, Charlottetown Mitsubishi can give you answers. Our Charlottetown Mitsubishi family can not only help you find the perfect vehicle built for you and secure affordable finance or lease auto loans, but we can also help you get the ultimate value for your trade-in.

There are many decisions to be made when you decide to upgrade your car. But one of the first things you will want to know is how much you can get for your current vehicle. Knowing that information can help make car-buying decisions easier.

Wondering what your current vehicle is worth? Complete the form below to get an instant Trade-In Value for your current vehicle!

How Much Is My Car Worth?

The trade-in value of any vehicle is the monetary value you will receive when you sell your car to a dealership. To determine how much your vehicle is worth, you will need to know its' current market value. Start by looking up your car make, model, and year in Kelley's Blue Book. You will then need to consider your car's AGE, mileage and condition.

At Charlottetown Mitsubishi, you can rest assured we will do our due diligence to offer you the top trade-in value for your vehicle. Our online trade-in assessment tool cross-references your vehicles' worth with data from industry-leading Kelley Blue Book, and we will also consider other factors. Before you receive a trade-in value, the car is examined by a Carfax tool to determine if any accident claims have been made. We will also look into your vehicle's market value and auction price to ensure you get the ultimate value for your car.

When to Trade-In Your Car to Get The Best Value?

The value of vehicles depreciates over time. THREE factors contributing to accelerated depreciation are Age, mileage and condition. To maximize your vehicle's trade-in value, we recommend upgrading your vehicle before it's  manufacturers warranty has expired.

Should I Trade-In or Sell My Car?

We have heard many of our customers say that privately selling their car may yield a higher return. While there is a possibility someone may offer you a reasonable price, there are no guarantees. Do you have the time to advertise your vehicle for sale, arrange showings and test drives, and haggle until you get the best price?

Also, consider more importantly - your TAX SAVINGS

The amount of tax you pay is reduced by the evaluation of your trade.   For Example:

  • Vehicle purchase:          $30,000
  • Trade-in value:               ($12,000)
  • Taxable amount:             $18,000
  • HST 18000x.15:               $2700
  • Original $30000x.15):     $4500
  • Tax Savings:                   $1800
  • Actual trade value received:  $13,800

*you'd have to receive - privately- $13800 for your trade in to be equal.

If you are hoping for the most straightforward, convenient transaction from start to finish, contact us. Our Charlottetown Mitsubishi dealership will make sure you find the car you need and offer you the best price for your trade-in, securely and quickly.