Now that you’ve decided on the Acura you want, you can trade in your old vehicle at your Acura dealership. We want to tell you some of the trade-in benefits you’ll receive when you bring your old car to us.
3 Trade-In Benefits Available at Your Acura Dealership
No Buyer Needed
If you chose to sell your old vehicle, you’d need to find a buyer. Depending on the type of vehicle you have and its age and condition, finding a private buyer could be easy or a major hassle. In addition, there will be costs, as you have to pay for ads and possibly get the car’s service history up to date. Few potential buyers are interested if a vehicle is missing some of its scheduled maintenance.
In contrast, you don’t have to spend any money if you offer your vehicle as a trade-in. We’ll tell you its appraised value based on its condition, and if you’re happy with the valuation, you can sign it over to us right away. We’ll take care of transferring the title, which will save you time and paperwork.
You Pay Less Tax
If you sell your old car privately, you must pay the tax on the full amount you receive from the buyer. This amounts to 6.25% of the sale price. Added to any other costs that were necessary to sell your vehicle, you could receive much less than you expected to put towards a new car.
When you bring your old vehicle to us, our expert technicians will examine it. Once the examination is complete, we’ll give you its value toward the price of your new Acura. Here in Texas, the Fair Market Value Deduction (FMVD) applies to vehicle taxes. This means you’ll only pay tax on the difference between the price of your new car and your trade-in valuation.
Your Mileage is High
If you kept your original car, it would still need regular maintenance. Maintenance becomes more expensive as a vehicle ages, as more complex systems and components require repair or replacement. At 100,000 miles, repair costs will rise even higher as components like the timing chain, catalytic converter, and alternator need to be replaced.
A good time to trade in your vehicle is around the 30,000 to 40,000-mile mark. It will still have a good market value that you can put toward buying your next vehicle. If your car is in good condition, its value will remain relatively stable after it reaches 100,000 miles, so it can still be used to reduce the cost of the Acura you’ve chosen.
If you’d like to know more about your car’s value or trade it in, contact us at Fox Acura of El Paso in El Paso, TX.
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