Trade-in happens when you sell your old car, and buy your new car, usually, only with the same dealer. During a trade-in, the dealer buys your old car, and uses this amount to offset from the price of the new car that you are going to buy from him.
Trade-in can be one of the fastest and easiest way to buy and sell your car. However, you may not be getting the best price for the old car you are selling. It is always better to have a second opinion, either by asking other dealers or through independent quotation platforms like Motorist.sg.
Also, as you have to buy and sell from the same dealer, you are likely to have limited options for your new car. With Motorist.sg, now you more choices and our consultants will help you pair up with our partners to get the best deal!
Trade-in is in all ways preferable to selling the car to a different dealer: The transaction is significantly easier if you can trade-in. A dealer who is trying to sell you a car will have more incentive to offer you a better rate on the trade-in. If he believes that the sale hinges on a good trade-in deal, he will be more willing to increase his offer on the trade.