Recent events like the pandemic and the war in Ukraine have had a significant impact on the automotive market. Shortages of key components have caused many manufacturers to cut production and pump out vehicles that cost more and often come with fewer features. With the constant increase in vehicle prices, it has become almost impossible to buy a great car at a reasonable price.
This is why many people turn to exchanges as a potential problem solver. Trading in your vehicle is a relatively safe option. However, exchanges often have significant downsides: many people aren’t aware of the fine print or how their dealers handle exchanges.
In this article, we’ll talk about how dealerships calculate trade-in offers, discuss the concept of ACV, and discuss how you can personally estimate the value of your car.