Frequent Asked Questions FAQ
Toyota Trade In - FAQs
Is it time for you to get another vehicle? Whether you're looking to upgrade your current ride or purchase a second vehicle, a trade-in may be part of your financial equation. If you do trade your vehicle in, here are some common FAQs to make this happen.
Q. What kind of vehicles will you accept?
A. Your Toyota On The Park dealer will be happy to discuss with you your trade-in options. The good news is that as long as a vehicle is running, we can make a deal. And if it isn't running, that isn't always a showstopper. Some vehicles simple need a little tender loving care (TLC) and can quickly be made drivable again. Talk with your dealer rep to learn more.
Q. How can I get more for my trade in?
A. Trade in prices can vary, depending largely on the type of vehicle traded in, its condition and mileage. Most any late model vehicle with low miles and a pristine maintenance record will fetch top dollar. On the other hand, an old rustbucket will be worth very little, but it will be worth something. Your trade can play a critical role in helping you secure funds toward your down payment.
Q. Are some vehicles more popular than others?
A. Absolutely. Models with all- or four-wheel drive are in demand, the type of vehicles popular in the Toronto market. That doesn't mean your front- or rear-wheel drive model won't be of interest to customers or to us. Yes, an SUV is always in big demand. A convertible, not as much, but it is still marketable.
Q. How much can I get for my trade?
A. There are many factors that go into determining a trade's value. Your dealer will look at the make, model and model year of the vehicle, as well as its mileage, condition and demand. Taking all factors into consideration, a market value for your vehicle can then be determined.
Q. Is there room for negotiation?
A. Yes, of course. The offer for your Toyota trade in is our suggested valuation based on the Canadian Black Book value. There may be slight flexibility, especially if we have overlooked a key feature, such as an upgraded audio system or certain advanced safety items. Beyond the trade in, there are other incentives that can impact your cost, including Toyota cash or special financing. Combined, all these factors can lower your upfront costs and reduce your monthly payments. Your dealer rep will be happy to discuss these options with you.
Q. What else can I do on my part?
A. What a good question! Yes, there are other factors that can help you. These include good credit, steady income, a job and the ability to pay back the loan. We'll run a credit check on you to determine both your history and your overall creditworthiness. The stronger your position is, the more likely you'll be approved for an auto loan and at an attractive financing rate. Also, consider adding cash to the offer. When combined with your trade-in, you'll have a smaller loan and quite possibly a shorter term.