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How Your Trade-in Can Be Your Cars Down Payment

Do you need a down payment for a car in Mundelein Illinois? Trade-in your vehicle that’s what most car dealers are telling people to do. Used car values are high right now with that a down payment on a car would be decent.

See If You Can Find a Car To Trade in For?

There are a ton of dealers looking for used cars. See if you find a car to trade-in for?

How dealers look at your used car as a down payment in Mundelein Illinois

If you ask what kind of down payment you need for a vehicle in Illinois think of it like this. Most car dealers want at least 10% of the car value down or they want $1,000 down on the car because that’s what the bad credit auto lenders are asking the car dealers to get.

Down payment trade in

When you have a trade-in the value of the car will most likely satisfy that down payment need so you don’t always have to have cash when you have a vehicle.

There are websites that will advise what your current car is worth. These websites are Kelley Blue Book and you can also look at Car Gurus to get an idea.

The value of the car when you trade it in will be put as a “down payment” for the vehicle you are going to buy.

Car dealers want to have your used cars because of the high demand because of the low production of cars used cars are what car consumers are looking for in Mundelein Illinois.

Increase the value of your used car

The things you can do to try and up the value of the car a little more is:

  • Do light repairs on the vehicle – replace brake pads, small scratches, and clean out the interior of the vehicle.
  • Bring your service records – to show the car dealer all the work that you have previously done. Storing the records in you glove box or have a folder to keep them safe.
  • Be preparing with the value of the vehicle – basically know the value of your trade in. This is important when negotiating with the dealer on a fair price. Have paperwork if need be.
Choose the right car dealership

But before all this choose what Illinois car dealer you want to work within your area if you have bad credit it might be best to work with a dealership that works with bad credit auto financing every day to get a fair shot at your trade-in.

Just make sure that your down payment satisfies the dealer’s requirement so it saves you money on the auto loan.

We can currently connect with car dealerships that work with credit challenges. It takes just a few minutes to see if we have a car dealership in your area.