Kaya 959 Reporter
Have you asked yourself if replacing your car with a newer more convenient version is a way to go?
You may be considering trading in your car if you’ve had it for a while, are bored with it, or find the upkeep too pricey.
For several reasons, this is a good idea.
For starters, you can count on a secure and rapid transaction (as long as you go through a reputable dealer).
It also means less paperwork because the dealership handles everything from start to end.
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Point of view with Phemelo Motene spoke to Tumelo Maketekete, a motoring journalist who shares tips on when the best time is to trade your car in.
LISTEN TO THE FULL CONVERSATION HERE:
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Maketekete shared how dealerships typically use retail and market value books to access the value of the car.
“Ideally who wants to trade in when the money that you owe the bank and the money you are going to get when you sell the car cancels out.”
“Unfortunately a car is not an investment but a liability, and for us to have those books (retail and market value book), we are trying to have a standard.”
Image trying to access similar cars with different mag wheels, different radios, one has a sunroof what has got this and that, you would probably never finish valuing a car. The books are more of a guideline.” says Maketekete.
He says the more original you keep your car, there more it retains its value.
He also shared how milage and warranty also play a part in how your car will be valued.
Maketekete also shared how banks typically operate when it comes to trade-ins.
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