When you’re using a car you already own as a trade-in, you want to get as much money for it as possible. Of course, some aspects of value you can’t control, including the year, make and model of your car, as well as mileage and the book value. There are other aspects, however, that you can control. 
First, a word about book value. There are two books – the Kelley Blue Book and the NADA Black Book – that are standard references for determining the value of a car. These books are available for purchase and online, and list a starting trade-in value for the car. From there, you add or subtract to that amount depending on the exact condition of your car. Again, some of these aspects are beyond your control, including options and mileage. You can, of course, affect the cosmetic presentation of the car. Unfortunately, those cosmetic touch-ups affect the value of the car only minimally.
Getting the most money for a trade-in begins before you ever buy the car. There are cars that have better resale value than others, and unless you’re 80 years old and never plan to buy another car, you should definitely consider resale value whenever you purchase a car.
Second, a car that’s well-maintained will bring a better trade-in value than an old, beat-up wreck. Maintain your car according to the manufacturer’s schedule, and keep records of all maintenance and repairs, including oil changes. Keep the car clean and in good condition, which will make it more attractive to future owners.
And, as mentioned before, mileage is something over which you have only limited control. Obviously, if you originally purchased the car to commute to work and you have a lengthy commute, your car will have more miles. If you anticipate putting a lot of miles on your car, you might want to trade it in sooner rather than later, when the mileage is still at an amount that isn’t excessive for the age of the car.
When it comes time to negotiate the value of your car for trade-in, remember that you’re still selling the car – even if you won’t ever see a check for it. Point out all the good features of the car, how well maintained it is, the mileage, and anything else that would make the car attractive to a potential buyer. The dealership will be purchasing your car intending to resell it, and if they feel confident they can make a profit, the more likely they are to offer you good value for your trade-in.
Another thing you should consider is whether you’ll get more value for your car using it as a trade-in or selling it on your own and using any resulting profit as a down payment on a new car. A potential purchaser buying a car from its original owner who can provide maintenance records and personal details about the car may be able to command a better purchase price than a commercial car dealership, which has additional costs to cover.
In short, getting the most money for your trade-in boils down to these essentials – buy a car with a good resale value, maintain it well, trade it in when it still has value, and consider whether it’s worth more as a trade-in or converted into cash.
