What is the trade-in value of a vehicle?
Did you know that the trade-in value of a car is not what your dealership will sell it for? By definition, the trade-in value is the dealership’s estimate of your car, which is deducted from your new vehicle’s price.
The following is a simplified example of this process:
- You see a new vehicle that you like at our Chevrolet dealership in Glencoe priced at $40,000.
- You opt for a trade-in of your old car.
- We determine that the value of your existing vehicle is $10,000.
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Pre-Owned Inventory