Benefits of Trading In Your Car to Patrick Volvo Cars
A Hassle-Free, Fair-Trade Assessment with a Quick Turnaround
Enjoy the peace of mind that comes from working with appraisal experts you can trust. Unlike deals with third party sellers or selling your car to strangers online, our trade-in offer doesn't change. Car sellers from Hoffman Estates receive an accurate appraisal and an offer that matches their car's current market value by filling out our trade-in form and relying on the expertise of our appraisal experts. Our Kelley Blue Book Value Your Trade tool takes only a few minutes to complete. Trading in your vehicle to Patrick Volvo Cars means Chicago customers don't have to deal with the typical used car hassles.
Complete the Deal All In One Place
Don't drive all around Chicago trying to sell your car. Get your appraisal done at Patrick Volvo Cars and finalize the trade-in process at the same location in Schaumburg, IL. Trade in your old car and take your new vehicle back to your Arlington Heights home.
Patrick Volvo Cars Will Pay Off Your Loan On Any Trade-In
Does your potential trade in still have a loan balance on it? Don't worry! Patrick Volvo Cars will pay off any remaining balance on your car loan and take care of the title from your lender. If you've built equity in that car, we'll offer a trade-in credit of the vehicle's value that can be used on a down payment on your next vehicle from Patrick Volvo Cars.
All Paperwork Is Taken Care Of
Don't get bogged down by endless paperwork that comes with selling your car elsewhere. At Patrick Volvo Cars, we take care of that tedious paperwork for your trade in. All Rolling Meadows customers have to do is sign at our Schaumburg dealership to prepare everything.
Know Your Vehicle's Market Value Before Visiting Our Volvo Dealership in Schaumburg
By using our Kelley Blue Book Value Your Trade tool, Des Plaines drivers have a concrete idea of their car's current value before they even step foot in our Volvo dealership. This provides flexibility as you choose between collecting cash or receiving a trade-in credit. Depending on your car's trade-in value, you may have more options on the table when considering upgrading.
You Can Save on Sales Tax.
A potentially massive benefit of trading in your car at Patrick Volvo Cars is the money you can save. Depending on how your state taxes vehicle sales, the value of your trade can potentially be deducted from the price of your new car for the purpose of computing sales tax. See the new Illinois Trade-In Tax Law here.
What If You Are Severely Underwater on the Car?
When you owe more on your vehicle than it is worth or appraised for, you have what is called having negative equity, being upside-down on your loan, or being underwater. In this situation, trading your vehicle makes less financial sense. If you can't sell your current car and use that money to pay off your existing loan, the cash to pay it off must come from somewhere else.
Here's an example: Say you owe $20,000 on a car that the dealer is only offering you $15,000 to trade in. That leaves you with $5,000 that you will immediately have to pay your lender if you sell the car.Â
If you have the money to pay this difference, it's not a big deal. If your finances are stretched, your options may be limited. This $5000 difference can be added to the balance of your new loan and use it to take care of paying off the loan on your old car. This can be looked at as a downfall because you are now adding another $5000 to the balance owed on you new car. In some instances, this may be your only option. A Patrick Manager can provide you with options to make a decision that works for you.
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