Trading in your current vehicle can simplify buying your next one. You handle both sides of the transaction in one place, and any equity in your trade-in can go toward your purchase. Here's how trade-in values are determined and how to prepare.
Online estimate vs. in-person inspection
An online estimate is a starting point based on the details you provide: year, make, model, trim, mileage, condition, and photos. It helps you plan, but it's preliminary.
The final number comes after the vehicle is inspected in person. The appraiser confirms the condition and equipment, looks for issues that don't show up in photos, and reviews the vehicle's history. The more accurate your description and photos, the fewer surprises there are at inspection.
An online trade-in estimate is not an offer. The final value depends on an in-person inspection.
What affects trade-in value
- Mileage: Lower mileage for the vehicle's age generally helps.
- Mechanical condition: Warning lights, leaks, unusual noises, or overdue maintenance lower value.
- Cosmetic condition: Dents, scratches, damaged wheels, cracked glass, and interior wear or odors all count.
- Tires and brakes: Items that will need replacing soon reduce value.
- Vehicle history: Accidents, flood damage, or a branded title can significantly reduce value.
- Equipment: Trim level and options matter, and so do missing keys or remotes.
- Market demand: Values rise and fall with what buyers in the area are looking for.
If you still owe money on the vehicle
You can often trade in a vehicle that isn't paid off. The payoff amount — the exact amount needed to close the loan on a given date — is confirmed with your lender, and it can differ slightly from the balance on your statement.
- Positive equity: If the trade-in value is more than the payoff, the difference can be applied to your next purchase.
- Negative equity: If you owe more than the vehicle is worth, the difference still has to be paid. It may be paid in cash or, if the lender allows, added to your new loan, which increases the amount you finance.
Keep making your regular payments until the old loan is confirmed paid off, and keep a copy of that confirmation for your records.
Paperwork to bring
- The title, if the vehicle is paid off. Everyone listed on the title may need to sign.
- Your lender's name and your account number, if there's a loan
- Current registration
- A valid photo ID
- All keys, remotes, and key fobs
- Service records, if you have them
About the title
The title shows who legally owns the vehicle. If your lender holds the title, it's released once the loan is paid off. If you've lost your title, you'll typically need to request a certified copy through the Texas Department of Motor Vehicles before the sale can be completed. Our team can tell you what's needed for your situation.
How to get the most accurate estimate
- Describe the condition honestly, including any warning lights or damage.
- Upload clear photos of every side, the interior, the odometer, and any damage.
- Clean the vehicle inside and out before the inspection.
- Gather your service records.
- Bring every key and remote.
Ready to start? Share your vehicle's details and photos through our trade-in form, and we'll follow up with a preliminary estimate and the next steps.