Otogo Launches a New Vehicle Appraisal Tool
There is a fairly recent vehicle sitting in your driveway? You should know that its value has probably increased over the last year.
As a matter of fact, sellers currently have considerable leeway if they want to get rid of their vehicles because dealers are scrambling to replenish inventories that have been stripped for months. So it’s the perfect time to get an appraisal from a dealer. You will definitely get a good price for your exchange vehicle!
Of course, trading-in your vehicle with a dealer has some advantages. First, the taxes cause the difference between the vehicle’s actual value and its exchange value to be smaller than one would believe. In addition, trading-in a vehicle provides a certain peace of mind.
Here Is a Concrete Example
You want to purchase a $30,000 vehicle, which will cost $34,500 with all applicable taxes. An individual made you a $15,000 offer for your old vehicle, while the dealer gives you a $14,000 exchange value. At first sight, the $15,000 offer seems more beneficial to your wallet, but not so fast!
If you decide to sell to the individual and use that amount towards a deposit on the new vehicle, you will be billed this way: $34,500 - $15,000 = $19,500. On the other hand, if you accept the dealer’s offer and trade-in your vehicle, the math will be the following: $30,000 - $14,000 = $16,000 + taxes = $18,400.
As you can see, even if your vehicle seems to have more value with a private individual, doing the exchange with a dealer is more profitable in the end.
And That’s Not All!
By trading-in your old vehicle, you also save time. And as you may know, time is money! No need to meet a series of “serious buyers” that will potentially waste your time. No need to go to the SAAQ and fill a sales contract. And, finally, no need to worry about what could happen afterwards. It’s a winning situation on all fronts!
Requesting an appraisal on otogo.ca is very simple:
- Find a vehicle you are interested in;
- Locate the “Appraise my trade-in vehicle” widget on the right in the detailed vehicle page;
- Complete the 5-step form as thoroughly as possible (no field is mandatory, but more information will help the dealer to give you a more realistic price);
- Once the form has been filled and sent, you will get an email confirming that your request was sent to the dealer. Afterwards, you will get an email or a call from the dealer, who will ask for more information if necessary, or make you an offer for your trade-in vehicle.