Dye Autos Denver Area Truck and Automotive Blog
Buying a pickup truck (or car) can be an arduous process…but with a little planning and a simple checklist, you can lessen the time spent.
We’d like to make buying a pickup truck as quick and painless as possible.
Here’s a list of the items to bring with you to help speed up your shopping process and get you in and out with minimum hassle.
1. Your driver’s license
You need to be a licensed driver to drive the vehicle off the lot. The driver’s license also serves as identification for your lender, your check or other forms of payment.
2. Proof of auto insurance
To drive a pickup truck off the lot, you need to prove that you have insurance on that car. You can call ahead and set up the new insurance policy if you know which pickup truck you are buying. Or you can call from the dealership and give your insurance company the new car’s vehicle identification number (VIN). Your insurer will provide coverage details to the dealership and your lender. In some cases, however, all the dealer requires is for you to show that you have a current auto insurance policy.
3. Your trade-in vehicle and ALL that comes with it
- Certificate of title (if you don’t have it, the DMV can tell you how to get it replaced). Note: if you have an outstanding loan on the vehicle, this will not apply since the bank has your certificate of title.
- Current registration.
- All your car keys, accessories that came with the car and the owner’s manual.
- If you still have a loan on the car, you’ll need to have your account number or a payment stub.
- Maintenance records. These help support your claims about whatever prior damage your car has had and the repairs it has undergone.
Pro Tip: Before you visit the dealership, be sure to take these important steps to get the most for your trade-in:
- Use online tools to appraise your car’s value. Edmunds.com and kbb.com are two great resources to appraise your trade-in’s value.
- Be honest with yourself about your car’s trade-in condition. The more forthright you are when using online appraisal tools, the better off you’ll be when it comes time to trade it in. Very often, people come into the dealership with an overly-optimistic idea of what their car is worth, only to find that reality is less optimistic.
- Give your trade-in curb appeal.
- Clean the exterior and interior well.
- Remove small dents.
- Fix window glass defects.
One of the most popular questions we get from our customers when they’re trading in is, “Should I detail my vehicle before I trade in?” The quick answer is yes, but there are important factors to keep in mind. Read more about taking the right steps to detail your trade-in here.
4. Your Payment: how will you be paying for the pickup truck?
Payment can be made by check from a bank or credit union.
When the dealership is handling the financing, the down payment can be in the form of a cashier’s check, a personal check or even a credit card payment. To find out what forms of payment the dealership will accept, call ahead of time and ask to speak with a finance manager.
If you plan on financing your pickup truck, it’s a good idea to have these ready:
- Last two recent pay stubs (if you have more than one job, bring the stubs from those as well)
- Proof of residency (any current utility bill should do, such as water or electric)
- List of references (not including anyone living in your household)
- Your credit score (read more about how to do that here). The higher your score, the better your financing terms will be.
Pro Tip: We strongly recommend that pickup truck buyers get pre-approved financing, even if they intend to finance at the dealership. We have an easy way to get pre-qualified at Dye Autos. Just click >>here<< to fill out our online form.
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Whether you’re trading in your car on a new car (or a new-to-you car) or selling directly to a dealer without buying another car, the condition your vehicle is in determines its trade in value. Getting a fair price for your old set of wheels is important, but it’s not so obvious how much work you should actually put in.
The first step in this process is getting your car prepped and ready before you set foot in a dealership to make a trade. One of the most popular questions we get from our customers when they’re trading in is, “Should I detail my vehicle before I trade in?”
The quick answer is yes, but there’s more to it.
We all want to make a good first impression, and trading in a car is no different. You want to give the impression of a well-maintained vehicle…and that means thoroughly cleaning your vehicle inside and out.
It will be hard to convince a dealer that your car has been well maintained if it looks dirty and neglected.
Steps to detail your car before you trade in
- Wash the exterior. You can pay a professional or do it yourself. If you’re washing it yourself, make sure to use a high quality product and not dish soap, laundry soap or any other household cleaners.
- Wax your car. It will add an appealing shine and that presents well.
- Clean the interior.
- Climb inside and get rid of those empty fast-food bags (or sneaky french fries that may have slipped between the seats). Get rid of all the empty water bottles, gum wrappers and other trash. Clear out any personal items or papers that may have accumulated over the years. The only paperwork you should have in the vehicle is an organized pile of maintenance records stored neatly in the glove box.
- Clean all the interior surfaces with a quality vehicle interior cleaning product. It usually smells good and the nice scent lingers on until you bring the car to the dealership.
Pro Tip: Take your car to a professional detailer. Depending on how dirty or grimy your car is, this could be a requirement. They’ll wash and wax the exterior with top quality products. They will shampoo the carpets, clean the glass inside and out, use ionizers and neutralizers to eliminate any foul odors, get inside the door jams, extract those stubborn crumbs and use special tools to reach the difficult nooks and crannies.
As you start planning your car detail process, the next logical question that will come up is, “What about repairs?”
Fix small repairs yourself.
- Check all the lights: headlights, interior dome lights, and trunk lights and replace them if needed.
- Check all fluid levels (oil, washer fluid, coolant, brake, radiator, and transmission fluid) and top them off if needed.
- Fix small scratches and dings. If you’re happy to do this yourself, go for it. If not, there are people who will come out to your job site or office and do it for you.
- Make sure wiper blades are in good condition.
- If there’s a crack in your windshield, don’t ignore it. Your insurance company may replace the windshield for free, but even if it’s not covered by insurance, replacing the windshield will give the impression of a well-maintained vehicle.
Leave significant repairs to the dealer.
If your car needs more serious work, leave that for the dealer. Any major issues will lower the value of your trade-in, but the dealer can perform the repairs for less than it would cost you.
Don’t waste your money on significant repairs. The dealership is in the business of fixing cars for resale, so leave the heavy lifting for them. Bigger-ticket items like a broken air conditioner or worn-out tires often aren’t worth your investment, but taking the time to clean inside and out, replace some bulbs, and refill some fluids will help you get the most money for your trade-in.
Bonus Tip: Pack all your trade-in’s accessories.
Trading in your car means you are trading in everything that goes along with it. Make sure the original owner’s manual and any extra keys are in the vehicle when you arrive at the dealership. Dealers like used cars that still have all the accessories and may even give you a better deal on your trade when everything is there.
Are you thinking about trading in your car or truck? Dye Autos is here to help you every step of the way. Call us at (303) 286-1665 or contact us >>>here<<<.
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Yes, when buying a car or truck, your trade in vehicle can serve as your down payment. However, there are factors to consider in that decision.
1. Dealers accept trade ins and cash down payments.
The amount of total down payment you’ll need is governed by two things:
- The amount that the bank requires in order to provide you with a loan. Your credit score is the driving factor.
- The amount of monthly payment that fits your budget.
2. Is your trade in loan paid off?
- If your trade in loan is paid off, the dealer will appraise your trade in and give you the price they’re willing to pay for your vehicle (actual cash value or ACV). You can use that amount as a down payment, or, in some circumstances, you can take part of it in cash back to pay for other important things in your life.
- If your trade in loan is not paid off, the dealer will get in touch with your bank for the pay off amount and compare it with the price they are giving your for your trade in (ACV).
- A positive difference (you owe less on your loan than your trade in’s ACV) means you can use the amount for your down payment.
- A negative difference (sometimes called “negative equity” – you owe more on your loan than your trade in’s ACV) gets a bit more complicated and #3 below explains more.
3. Does your trade in have negative equity?
Equity is the difference between your trade in’s actual cash value (ACV) and the amount you owe on the loan. For example, if your vehicle’s ACV is $5,000 and you owe $3,000, you have $2,000 in equity that can be used as a down payment toward the new car purchase.
If your trade in’s ACV is $3,000 and your loan pay off is $5,000, you have negative equity.
When faced with negative equity in a trade-in, you’ll need to weigh all of your options. There are three main courses of action you can take:
- Pay off the difference – This is ideal if your negative equity amount isn’t too high and you have the cash. Not everyone is in a position to do this.
- Roll it over – “Roll over” the negative equity into the new loan. Not all lenders are willing to do this, so make sure you ask if this is an option. The downside to rolling over negative equity is that you’ll be increasing the amount of your new loan, which will increase the monthly payment. However, in many cases, when it’s amortized over the full term of the loan, it is affordable.
- Wait it out – The last option is to wait until there’s no negative equity. Waiting until your trade-in is paid off or the loan reaches a point where there is equity could make your next car purchase easier – but it’s not a guarantee. Trade in values fluctuate and now may be the best time to buy.
The only way to know for sure on trading in your car or truck as a down payment…
…is to visit a trusted Denver dealer who’s got many years of experience providing seasoned advice and helping people get the best car loan.
Dye Autos in the Denver – Wheatridge area is ready to help you find the used car or truck of your dreams. Call us at (303) 286-1665 or complete our handy online form >>here<<. We’ll be in touch!
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Everybody wants the most money for their trade-in when they’re getting a new truck or car. Here are the specific steps you can take to increase the value of your trade-in and ensure you’re getting the maximum amount.
Secure your trade-in’s value from day one.
You can begin to increase the potential value of your trade-in long before the time comes to bring it to the dealership.
- Staying on top of regular maintenance items such as oil changes, tire rotations, brake jobs, and other preventive measures will increase your car’s value by extending its lifespan.
- Be sure to document all maintenance and repairs in your car’s service manual.
- If you always have the dealership you bought your car from handle maintenance work, that same dealership should be your first stop when it comes to trading in that vehicle. A dealer that is familiar with the work done on the car will be more inclined to provide a favorable valuation.
Pro Tip: Once you’ve traded in your old car, it’s never too early to think about the trade-in value of your new car.
Save all your repair and maintenance receipts.
If you complete any major repairs or purchase any big-ticket items (like new tires) within six months of trading in your car, be sure to save your receipts.
Document everything and you’ll have a better chance of leveraging your expenses as an investment in the car.
Use online tools to appraise your trade-in’s value.
Edmunds.com and kbb.com are two great resources to appraise your trade-in’s value.
Be honest with yourself about your car’s trade-in condition. The more forthright you are when using online appraisal tools, the better off you’ll be when it comes time to trade it in. Very often, people come into the dealership with an overly-optimistic idea of what their car is worth, only to find that reality is less optimistic.
If you’ve got a relationship with a dealer, ask them to appraise your car.
There’s absolutely no charge and the trust you’ve developed over the years equates to a number you both can live with.
At Dye Autos in Wheat Ridge, we’re happy to appraise your car. Just give us a call at (303) 286-1665 or use our easy contact form >>here<<.
If you don’t have a relationship with a dealer, shop around.
Having multiple trade-in offers will help you understand your vehicle’s actual value. With that number in hand, you’re less likely to be talked into taking less for your trade-in when you’re buying your new car.
Pack all your trade-in’s accessories.
Trading in your car means you are trading in everything that goes along with it. Make sure the original owner’s manual and any extra keys are in the vehicle when you arrive at the dealership. Dealers like used cars that still have all the accessories and may even give you a better deal on your trade when everything is there.
Bonus Tip: Bring all vehicle paperwork with you.
Dealers love it when you have all the documents ready to trade-in your car. It makes it easier for them to process your info with the DMV and leaves less room for error once the DMV receives your information.
You will need:
- Certificate of title (if you don’t have it, the DMV can tell you how to get it replaced). Note: if you have an outstanding loan on the vehicle, this will not apply since the bank has your certificate of title.
- Current registration.
- If you still have a loan on the car, you’ll need to have your account number or a payment stub.
- Maintenance records. These help support your claims about whatever prior damage your car has had and the repairs it has undergone.
You’re ready to get rid of your current car and get yourself a new one. For many vehicle owners, there’s nothing easier than trading in a car to a local Denver dealer. That way, you avoid the time and effort it takes to list, find a buyer and sell your vehicle online; plus, dealers today are working to make the trade process fast, easy and transparent.
Before you visit the dealer, be sure to take these important steps:
- Use online tools to appraise your car’s value. Edmunds.com and kbb.com are two great resources to appraise your trade-in’s value.
- Be honest with yourself about your car’s trade-in condition. The more forthright you are when using online appraisal tools, the better off you’ll be when it comes time to trade it in. Very often, people come into the dealership with an overly-optimistic idea of what their car is worth, only to find that reality is less optimistic.
- Give your trade-in curb appeal.
- Clean the exterior and interior well.
- Remove small dents.
- Fix window glass defects.
- Bring all vehicle paperwork with you. You will need:
- Certificate of title (if you don’t have it, the DMV can tell you how to get it replaced). Note: if you have an outstanding loan on the vehicle, this will not apply since the bank has your certificate of title.
- Current registration.
- All your car keys and the owner’s manual.
- If you still have a loan on the car, you’ll need to have your account number or a payment stub.
- Maintenance records. These help support your claims about whatever prior damage your car has had and the repairs it has undergone.
When you arrive at the dealership
Inform your salesperson that you will be trading in a car. The salesperson will likely take down some of your information, then either the salesperson or a manager will perform a visual inspection of your vehicle, record the vehicle identification number and run the number through a vehicle history database to check its records.
The salesperson or manager may take your car for a quick drive to see how it runs.
Getting your trade-in offer
The trade-in offer you receive will depend on several factors, but mostly it will rely on the price being sought for similar vehicles at auction. Other possible factors include whether or not the dealer has similar cars on the lot already, the condition of your vehicle and whether the dealership needs to make any repairs to make your trade-in ready for other buyers.
Since you’re trading in your car in order to buy another one, negotiating the price for your trade-in will include the car you’re buying.
Paying off your trade-in’s loan & finishing up your deal
When you’re trading in a car, there may be a little more wiggle room on your trade-in value against the price of the car you’re hoping to buy.
When the amount you owe on the car is less than the trade-in value, the process is pretty straightforward. Say you still owe $5,000 on your car and a dealer offers you $6,000 for it as a trade-in. The dealer pays off the $5,000 loan for you and then you transfer ownership of the car to the dealer. You can use the difference (in this example it’s $1,000) as a down payment on the car you’re buying.
When the amount you own on the car is more than the trade-in value, the dealer still pays off your loan. This leaves a balance due to the dealer which you can either pay cash for, or sometimes, roll that amount into the new loan you’re getting on the new car. Various factors like creditworthiness, terms and payment amounts govern which options you’ll take.
Dye Autos helps people like you trade-in their cars and trucks everyday! Give us a call at (303) 286-1665 or contact us >>here<<. We’ll help you navigate the process of trading in a car and get you into the car of your dreams.
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