Auto Trade-in FAQ at Toyota of Braintree
Many drivers in and around Braintree, MA choose to trade in their current vehicle at our Toyota dealership when they're ready to upgrade to a new model. However, some of our customers have questions about the trade-in process at Toyota of Braintree. We have compiled the most frequently asked questions as well as their answers. Search below, and then contact a product specialist at our Toyota dealership to begin.
What is an Auto Trade-In?
When new car shoppers trade-in their old model for a new one from our dealership in Braintree, MA, the net value of their used model is put toward the purchase or lease of the new car, truck, or SUV.
- If you own the trade-in, you sell the car to the dealer for a predetermined price, and your new car purchase price goes down.
- If you lease the trade-in, the dealer agrees to pay the outstanding costs associated with the lease, and depending on your auto financing terms, the new car price can go down or up.
Why is it beneficial to trade-in?
Trading in your current model is not just an excellent way to save money on your new vehicle purchase, but also a great way to sell your old vehicle without hassle.
- Easier and quicker than selling privately
- No vehicle will be refused
- Dealership handles the paperwork
- Sales tax calculated on the price after trade-in
- Unpaid balance on trade-in rolled into new loan or lease
Should I trade-in my old vehicle?
We believe the many benefits gained by trading in your old model to our dealership mean it is the best way to make room for a new car in your driveway. However, some vehicles, like rare models and those with exceptionally low mileage, may be good candidates for private sale if you believe it is worth your time, money, and effort.
What happens to a trade-in vehicle?
The dealer generally resells trade-in vehicles in some manner. Ways include:
- Resold by dealer on lot
- Wholesale to another dealer
- Sold at auction
How much can I expect to get?
Toyota of Braintree provides a free trade-in valuator tool on our website to help drivers figure out what their used car, truck, or SUV may be worth.
You can also check used car values in guides issued by organizations such as Edmunds.com or the National Automobile Dealers Association (NADA). Often both trade-in and private sale values are listed. Factors such as mileage, overall condition, damage, and known mechanical problems will heavily influence the trade-in value.
Was your question not answered here? Contact a used vehicle specialist at (781) 848-9300 and we'll be happy to help.