Trade-in – what does it mean?

Do you want to quickly and effortlessly exchange your old car for a new car or a used foreign car imported from Europe?
Buying a car through a trade-in program is the best choice for you.

Let's figure out how it works, what the pros and cons of the exchange program are, and how to protect yourself from “surprises” before signing the Agreement.

How does the Trade In program work?

The idea is simple - you bring your old car to the dealership and drive home with your new one. The dealership buys your car based on its appraised value, which is then deducted from the price of the car you choose or from your loan down payment.

Conditions for purchasing a car under the Trade-in program

Before purchasing a car, it must undergo a thorough inspection. The main condition is legal purity!

The exchange program involves purchasing a car from you without liens, fines or debts.

Body, engine and chassis numbers must be legible and match the numbers shown on the vehicle registration certificate (VRC).

As part of the trade-in, the technical serviceability of your car is also assessed. It must be fully equipped and move independently, and not with the help of a tow truck.

Minor defects and damage to the body will not be an obstacle to redemption, but will definitely reduce its cost. There is no standardization - decisions are made by specialists when inspecting the car on site.

The car dealership has the right to set its own requirements for the condition of the car and more. Often, the conditions for purchasing a car under the trade-in program include restrictions on the make and model of the car, year of manufacture, configuration or tuning.

If you are not sure whether your car can be exchanged under the Trade-in program, call our car dealership by phone ☎️️ +373 682 00 702 or use an online consultation.

How is an old car accepted?

Having clarified all the details of the exchange program, you come to our dealership with your car, where it is driven into the service area and a full diagnostic is carried out.

Then everything goes according to the proven scheme common to everyone:

1. determination of the market price of the car;
2. the interest received by the seller is deducted from the market value;
3. costs of eliminating defects.

Once the procedure is completed, you will be informed of the cost. If you are not happy with this, you can refuse the deal.
If you are satisfied with everything, then all that remains is to choose a new car from the proposed models.

The choice is limited only by your budget - if necessary, you can get a loan or leasing.

Usually, when selling a car under the trade-in program, two Sales and Purchase Agreements are drawn up - one for the old car, the other for the new one.
In some cases, only one Exchange Agreement is concluded, which indicates the difference in the cost of two cars.
To complete the transaction, you must have a civil passport and a vehicle registration certificate. If you are selling a car on behalf of the owner, you will need a power of attorney certified by a notary.

What problems might you encounter?

1. If you just recently bought a car and are planning to sell it through an exchange program, then you will be refused. Typically, car dealerships set a minimum car ownership period of 1 to 6 months. Don't be surprised - this is done to protect yourself from scammers.

2. If your car does not meet the technical requirements, then also be prepared to have the deal rejected. However, you can get a discount on your new car purchase through the government's recycling and recycling program.

3. If the dealership refuses to buy your car, they may offer to take your car on consignment and return the money when they find a buyer. In fact, this can no longer be called a trade-in - you simply entrust the search for a buyer for your car to an intermediary, but at a price that you set yourself and consider adequate.

Pros and cons of Trade-In

The main advantage is speed. Typically, the time between selling an old car and buying a new one is only a few hours. Trying to sell your old car yourself by posting ads on the Internet can take weeks or months. This is especially inconvenient when you have already looked at a new car and there is a discount on it that is valid for a limited time.

As a result, you don’t have time to sell your old car, the discount period for a new one has expired and there is a high probability that someone else will buy it - it’s a shame!

Another plus is safety. By contacting an official dealer, you reduce the likelihood of meeting scammers to zero. The car dealership guarantees 100% legal purity of the transaction. If claims arise after the transaction is concluded, you have every reason to challenge it in court.

Please note that the procedure for obtaining a loan for the trade-in program is extremely simplified and does not require a lot of time to complete.
You will definitely get a loan, even if you decide to order and buy a used car, because the bank has guarantees in the form of a car dealer and a down payment, so risks are minimized.

On the downside, be prepared that the estimated cost of your car dealership experts may be significantly lower than the price you could get by selling the car yourself. But keep in mind that the dealer will need to invest their time, effort and money to sell your old car.
A nice bonus is that the difference will be partially compensated by a discount on a new car, which is important.

Is it worth choosing the Trade-In program?

Of course, everything depends on your capabilities, both financial and time-wise.
If you are a busy person who wants to resolve the issue of buying a new car as quickly as possible and not bother with selling your old car, then this option is definitely for you!
If you are not limited by time, have iron patience and know how to bargain in your favor, then you can take the risk of selling the car yourself.

Important aspects of a transaction under the Trade-in program:

1. Before you sign the Sale and Purchase Agreement, read it very carefully!

2. We recommend paying special attention to the timing of receiving the car. If the car is not in the parking lot, it must be picked up within the time period specified in the Agreement.

3. Be sure to clarify the issue of deregistration of the car with the car dealer or, if such information is not available, we recommend contacting the Public Services Agency (PSA).

4. If you have had your car serviced at any of the dealerships, then the best option for an exchange would be to contact them. This will speed up the procedure for registering a car and there is the possibility of getting a good discount on the purchase of a new model.

5. Remember that if you change your mind about selling the car under the exchange program, the car dealership may issue you an invoice for its services.
We recommend that you clarify this point in advance to avoid additional costs that you may not be prepared for.