There are three main ways to value used cars and trucks. And the trade-in value is the lowest.
Retail value. Is what someone would expect to pay for a car or truck at a dealership. Dealers get a premium because they can arrange to finance the vehicle, provide warranties, take trade-ins, and offer many cars or trucks to pick from in one place.
Private party value. Is what someone may get when they sell their vehicle themselves. The private party value is less than retail because a private seller, meeting buyers at his or her home, cannot help with financing, offer guarantees, or take a vehicle on trade. Private party value is often $2,000 to $3,000 below the retail price.
Trade-in value. Is what a dealer will likely give someone on trade for their vehicle. This is the lowest value since the dealer will have to spend their capital to “purchase” the car, handle service and repairs, and take the risk of it not selling. Trade-in values are often $2,000 to $4,000 below the private party value.
Get More than Trade-in Price
For some car buyers, there is a way to get private party value without any more effort than trading in. That way is consignment.
With our consignment plan, you get:
Near private party value for your vehicle.
A no-hassle, easy process.
No up-front, or monthly fees
But car and truck consignment is not for everyone. You need to have:
A car or truck that is less than ten years old.
A car or truck with fewer than 100,000 miles.
The ability to wait to get more for your vehicle.
If you would like to learn if car or truck consignment could get you $2,000 or more above trade-in value, please contact our consignment manager by completing the form below.
Vehicle Consignment Defined
noun con·sign·ment | \ kən-ˈsīn-mənt \
1 : the act of getting private party value for a car or truck without listing it oneself; 2 : a smart way to get more for a trade-in; 3 : a great alternative to returning a lease.