Enter your mobile phone number and receive a text from us asking for your plate or VIN number.
We text you back your vehicle’s estimated live market value.
An appraiser will schedule a convenient time to perform a vehicle inspection. Get paid on the spot!
Trading in your current vehicle can simplify the process of moving into your next car, truck, or SUV. Instead of advertising the vehicle, responding to potential buyers, arranging test drives, and managing the paperwork yourself, you can have your vehicle appraised and apply the accepted trade allowance toward another vehicle in one transaction.
A trade-in may also affect the taxable amount of a qualifying vehicle purchase in Missouri. Eligibility depends on the transaction and current Missouri requirements. Missouri may also allow a 180-day replacement-vehicle tax credit when a qualifying vehicle is sold separately and another vehicle is purchased within the permitted period. Because individual circumstances vary, customers should review the current Missouri Department of Revenue guidance, or contact the department for information about their eligibility.
An accepted trade allowance can reduce the amount remaining on the purchase contract after any applicable loan payoff is addressed. However, it does not automatically guarantee a lower monthly payment. The final payment depends on the vehicle price, trade equity, down payment, taxes and fees, credit history, interest rate, loan term, lender approval, and any existing balance carried into the new loan.
Use our online tool to receive an initial estimate, or visit AutoCenters Herculaneum for an in-person appraisal. Our team can inspect your vehicle, review its current market value, and explain how the final offer could be applied to your next purchase.
Understanding the step-by-step mechanics of a professional appraisal helps demystify the trade-in process. The entire transaction is structured to be transparent, logical, and efficient, moving from initial evaluation to final signature in a matter of hours. The terms used during an appraisal can sound similar, but they represent different stages of the process.
An estimated market value is a preliminary range based on the information submitted online, such as the vehicle’s year, make, model, mileage, equipment, and reported condition. It is a useful starting point, but it is not necessarily the final amount offered for the vehicle.
A vehicle offer is a written in-person offer based on the vehicle information provided and the specific terms presented with that offer. It may be valid for a limited period and is generally subject to verification of the VIN, mileage, ownership, equipment, history, and condition. Customers should review the offer’s complete terms and expiration date.
The final value is confirmed after an appraiser physically inspects the vehicle and verifies the submitted information. If the vehicle’s actual mileage, equipment, history, or condition differs from what was reported, the final value may change.
If you accept the final offer and trade the vehicle toward another purchase, the accepted value becomes the trade allowance shown on the purchase agreement. Any outstanding loan balance must also be addressed. Positive equity may be applied toward the purchase, while negative equity may need to be paid separately or included in the new financing, subject to lender approval.
Market conditions, mileage, history, equipment, and overall condition have the greatest influence on a vehicle’s value. A few simple preparations can help the appraiser evaluate it accurately.
Wash the exterior and remove trash and personal belongings from the interior. A basic vacuum and cleaning make it easier to evaluate the upholstery, carpeting, cargo areas, and overall condition. Expensive professional detailing is not required.
Replacing an inexpensive burned-out bulb or securing a loose piece of trim may help present the vehicle accurately. Before paying for larger cosmetic or mechanical repairs, consider whether the potential increase in value is likely to exceed the repair cost.
Bring any available service and maintenance records. These documents can provide helpful information about how the vehicle has been maintained, although they do not guarantee a specific appraisal amount.
Bring all available keys, key fobs, charging equipment, removable seats, cargo covers, and other original accessories. Missing equipment can affect the vehicle’s final value.
Bring your driver’s license, registration, title if available, and current lender information if the vehicle is financed. Additional documentation may be required depending on the vehicle’s ownership and title status.
A private sale can sometimes produce a higher sale price, but it also requires the owner to manage the process. This may include advertising the vehicle, responding to inquiries, arranging test drives, verifying payment, completing required paperwork, and documenting the transfer.
Trading the vehicle to a dealership can provide a more streamlined option. The dealership completes the appraisal, explains the offer, coordinates eligible loan payoff information, and handles the dealership’s portion of the ownership-transfer paperwork.
Customers should keep copies of all transaction documents and complete any seller responsibilities required by Missouri law. Selling to a dealership can reduce the time and coordination involved, but we should not describe it as eliminating every possible responsibility or risk.
A private sale does not automatically eliminate the possibility of receiving a Missouri vehicle tax credit. A qualifying seller may be eligible for a 180-day replacement-vehicle credit when the sale and replacement purchase meet state requirements and the required documentation is provided. Customers should consult the Missouri Department of Revenue regarding their specific eligibility.
You can trade in a vehicle even if you still owe money on it. The first step is obtaining a current payoff quote from the lender. This amount may differ from the balance displayed on a monthly statement because it can include accrued interest or other applicable charges.
Positive equity exists when the vehicle’s accepted trade value is greater than the loan payoff.
For example, if the accepted trade value is $15,000 and the payoff is $11,000, the vehicle has $4,000 in positive equity. That equity may be applied toward the next purchase, subject to the final contract.
Negative equity exists when the payoff is greater than the vehicle’s accepted trade value.
For example, if the payoff is $18,000 and the accepted trade value is $15,000, the difference is $3,000. Possible options may include:
Including negative equity in a new loan increases the amount financed and may increase the monthly payment and total interest expense. Approval depends on factors such as credit history, income, vehicle value, loan-to-value limits, down payment, interest rate, and lender requirements.
Q: Who is responsible for paying off my old auto loan when I trade in my car?
Once the trade-in contracts are finalized and signed, the trading dealership assumes legal responsibility for sending the payoff amount directly to your old lender. This process typically takes one to two weeks to process completely, after which your old account will be officially closed.
Q: How does high mileage affect my vehicle’s trade-in value?
High mileage directly lowers a vehicle’s market value because it indicates greater mechanical wear and a shorter remaining lifespan. Appraisers use specific mileage brackets to calculate depreciation, as vehicles with higher odometer readings require more extensive reconditioning before they can be resold.
Q: What is the difference between trade-in value and private party value?
Trade-in value is the wholesale offer a dealer makes, reflecting their need to cover reconditioning, marketing, and a resale margin. Private party value is the retail price an individual consumer pays, which is higher because the buyer is the final end-user and does not have business overhead costs.
Q: Can I trade in a car that has been involved in an accident?
Yes, you can trade in a vehicle with an accident history, though previous collisions will reduce its overall value. Appraisers review vehicle history reports to identify past structural damage or airbag deployments, adjusting their offers to account for the increased risk and repair history.
Transitioning to your next vehicle does not have to be a stressful or time-consuming chore. By trading in your current car, you can unlock immediate tax advantages, secure a built-in down payment, and bypass the safety risks and administrative headaches of a private sale. Our team is committed to providing a transparent, stress-free appraisal process that respects your time and maximizes the value of your investment.
Whether you are looking to trade in a paid-off commuter car or need help navigating negative equity on an active loan, we are here to help you find the right financial path forward. We invite you to visit us in Herculaneum to experience our straightforward approach to vehicle shopping. Get directions to our showroom at 1225 McNutt St to get your vehicle appraised, or give our team a quick call today to discuss your trade-in options.
