Exchange Bonus: If you are trading-in your existing car for a new one at the dealership, ask the dealer for an exchange bonus. Dealer happily offers exchange bonus because he gets a good margin on your used car that he buys. The exchange bonus should be in the 1-5% range.

However, if you are not in a hurry, CarWale’s suggestion is not to get misguided by the exchange bonus andsell your car yourself. We highly encourage you to sell your car through an internet portal like CarWale or sell it to an individual directly. By cutting out the middleman in the sale, you save a lot of money, typically 5-10% of your used car’s price.