Trading In Your Vehicle!
autoXcite Appraisal Services

Pages: 1- 2 - 3

Seven terms that you should completely understand when trading in a vehicle:

• Retail Price/MSRP
  
  
• Selling Price
  
  
• Trade In
  
  
• ACV
  
  
• Trade Difference Amount
  
  
• State Tax
  
  
• Pay Off
  
  
  

1. Retail Price/MSRP represents what a dealer is asking for the vehicle you desire to purchase. More specifically retail price generally applies more toward a pre-owned vehicle. MSRP, which stands for Manufacturer Suggested Retail Price, generally applies to brand new straight from the factory automobiles.
   
   
   
2. Selling Price will be what the dealer and the consumer agree to be a fair deal.
   
   
   
   
   
3. Trade In is the car you may trade in to lower the selling price of the potential new vehicle purchase. You usually also receive a tax break on your purchase price.
   
   
   
   
   
4. ACV s imply stands for Actual Cash Value.
   
   
   
   
   
5. Trade Difference Amount reflects the price you'll receive after the collateral of your trade in is applied to the selling price of the new vehicle you desire to purchase.
   
   
   
   
   
   
6. State Tax will apply to the final selling price, whether with or without a trade. The state tax varies from state to state (i.e. Massachusetts is currently 5%, while in New York it's 8.25%).
   
   
   
   
   
7. Pay Off is the remaining balance owed on the trade in before the title of ownership would be released.
   
   
   

A trade in is the automobile you own (or are making payments on to own one day) and wish to use as collateral on the new vehicle purchase. Each situation varies, but in the end, your goal will be to get the fair market value for the trade in.

GO ON TRADE IN (Page 2)