Understanding Trade-in Values in Kelowna

May 25,2022

For car buyers who have never traded in a vehicle, understanding the process is essential to maximizing the value of their ride. With Skaha Ford’s Easy Deal in BC, we aim to simplify the process to help shoppers make an educated and confident selling and buying decision.

What is Trade-in Value?

Trade-in value reflects the best price that a dealer offers for a vehicle. This amount is then credited from a new or used car purchase, or the dealer may make a cash trade-in arrangement.

For example, let’s say a vehicle has a $13,000 purchase price. If the dealer offers a trade-in value of $3,000 for the unwanted car, this brings the new vehicle’s purchase price to $10,000. Not only does this save money off the purchase price, but it also makes it easier for car buyers to qualify for auto financing since they are borrowing a lower amount. In addition, a cash down payment also decreases the amount financed, saving vehicle owners additional interest throughout their loan.

Need help getting approved for financing in BC? Contact our team at Skaha Ford to inquire about Easy Deal, or click here to fill out this quick trade-in form.

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