What is trade-in value?
The Bankrate.com financial term of the day is: "trade-in value."
When you're ready for a shiny new set of wheels, the dealer may take your old car off your hands and give you some trade-in value for it. That's an amount of credit that you'll get for your existing vehicle and will be able to apply toward the price of the new one. The convenience of trading in your old car comes at a cost, because the trade-in value is typically a bit below the vehicle's value on the open market.
Your old car can provide some trade-in value to help put you behind the wheel of its replacement.
To find the best new cars and the best new-car financing, visit the Auto section at Bankrate.com.
New car loan rates fell 1 basis point each.
Used car loan rates keep getting better.
Both new and used car loan rates shifted lower this week.
Rates on auto loans were mixed this week.
It pays to pick a vehicle that holds its resale value. Jean Chatzky tells us how to find one.
How did consumers respond when asked about job security, savings, net worth, and debt?
Comparison shopping will help you know deals from duds at a dollar store.
Looking to save money? Here are eight easy ways to save $5,000 in one year.
Mortgage rates jumped this week.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.
While gas prices have dropped dramatically, the sales of diesel cars has continued to grow, rising 13.5 percent in 2014 over 2013, according to the latest data compiled by IHS Automotive for the Diesel Technology Forum.
... Read more