We Will Buy Your Car
At Toyota of Lincolnwood, we believe in making your car selling, shopping, and buying experience as stress-free as possible. One way we make that goal achievable for our Oak Park customers is by offering a hassle-free way to sell their used cars. Not everyone has the time or desire to become a private party seller — and that’s where Toyota of Lincolnwood comes in. We will buy your car, so you don’t have to worry about posting ads or screening buyers. Then, we’ll help you put your car’s value toward a new, pre-owned, or certified pre-owned Toyota.
Trade-In Value
If you’re wondering, “What is my used car worth,” the answer is just a few clicks away! Using our handy value your trade-in calculator, you can get an estimated car trade-in value from the comfort of your home or office. Simply input some information about your car into the trade-in value calculator, as well as your contact information, and you’ll have an estimate right away. Keep in mind, there are a few factors that affect trade-in value, including:
- Mileage
- Mechanical condition
- Car features
- Exterior/Interior condition
- Market landscape
How to Trade-In
After you’ve received your trade-in estimate, it’s time for an appraisal of your vehicle! Our Chicago dealership can take care of this step for you. We’ll examine the condition of your car and make sure it’s a good fit for our used car inventory. When you visit for your car’s appraisal, be sure to bring your trade-in estimate!
Once we’ve examined your car, you can negotiate or accept our offer and finalize the sale. We pride ourselves on offering the fairest possible offer on trade-in vehicles, aiming to make the trade-in process transparent and simple. In fact, there are a couple of major advantages to selling your car to a dealership, including:
- You can haggle at a dealership. We encourage our customers to always do their own research to make sure they’re getting the most reasonable trade-in offers.
- Can you trade in a car you still owe money on? You can with a dealership. If you’re upside down on your car loan, you can consolidate what’s owed on your current car with the price of your new ride.
Why Trade-In?
When selling your car, you should consider trading in your car so that you can increase its value and put it toward your next car. Not only are dealerships more convenient and financially secure but they can also help you through all the paperwork, working with you to get the best sale and finance rate. Additional benefits of trading in your car include:
- Stress-free sale experience
- Get a quick offer
- Lower your down payment
- Save on sales tax
- Increased trade-in value
At Toyota of Lincolnwood, we offer competitive financing rates and terms on our great selection of new and used cars, trucks, and SUVs. Our finance experts are here to guide you through the financing process and help you get into your new vehicle. Contact Toyota of Lincolnwood finance team today or if you’re ready to start the financing process, you can fill out our secure finance application online.
Trade-In FAQs
What is Fair Market Value?
Fair Market Value is the amount you might reasonably expect to receive if selling privately.
What is Trade-in Value?
Trade-in Value is an estimate of what a dealer will offer to buy the vehicle; trade-in values are usually lower than selling privately but can include an added bonus, incentive, and loyalty rate.
Can I trade-in my car for a lease?
Yes, your trade-in value will be deducted from your down payment and/or monthly payment.
Can you trade in a financed car?
Yes, you can. If you have positive equity on the car (as in it’s worth more than what you currently owe), you can trade it in easily. The dealer will purchase the car and pay off the loan, then they’ll put what’s left toward the new vehicle price, giving you a major advantage. If you have negative equity on the car (as in it’s worth less than what you currently owe), the dealer may still buy the car and pay off the loan, but the difference will be rolled into your new car loan — meaning you’ll still need to pay it off eventually.
What are the benefits if trdaing in my car to a car dealership?
Dealers can offer you more money with a trade-in, offer additional incentives, and aren’t a liability like an independent party may be.
How soon can you trade in a financed car?
There’s no time limit that’s set in stone, but it’s a good idea to wait until you have positive equity.
What does it mean to be "upside down" on a car loan?
Being “upside down” on a car loan is the same thing as having negative equity. If, for example, you owe $30,000 on a car that’s worth $25,000, you have negative equity.
Can I trade in my car for a cheaper car?
If you still owe money on the car, you can trade it in for a cheaper one. If, for example, you owe $15,000 and the car is worth $20,000, the dealer can purchase the car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you don’t owe money on the car and own it outright, there’s nothing stopping you from trading it in for a cheaper car; you can do what you’d like with it.
Make Toyota of Lincolnwood Your Automotive Partner Today!
If you have questions about how to trade in a car that is paid off, or how to get the best possible offer, don’t hesitate to contact us online or give us a call at 847-929-9824. While you’re here, be sure to browse our current new and pre-owned car specials to start shopping for your next great offer near Evanston!/p>
