Trade In or Sell?August 4, 2016
When it comes time for a new car, many people struggle with the decision to trade in their old car or sell it themselves. Everyone knows that dealerships pay much less for a trade-in than it’s usually worth. Selling your car private party could get you several thousand more dollars. However, everyone also knows that trading in your car at the dealership is MUCH easier and more seamless than selling it private party. And usually, the dealerships have extra incentives for trading in your old car at the time of purchase. Here are some things to consider: A lot of people can get more money selling their car on their own instead of trading it in. However, you don’t have the reputation of a dealership, so people will have a harder time finding you. Once they do, they will most likely be warier of your car because it doesn’t have the dealership inspections to back it up. If you have a lot of time on your hands and were a meticulous first owner of your car, you have a good chance at getting a better price for your car. But if you’re a little short on time and your car isn’t quite in mint condition, you might be better off trading it in. If you decide to trade in your vehicle, that doesn’t mean you can’t get a good price for it. Trading in can be a total win! Sometimes salesmen are limited with what kind of deal they can give you on a new car. However, they generally have more flexibility with your trade-in value. If they can’t lower the new car price, ask if they are willing to negotiate with your old car’s trade-in price. You can also wait until a dealer does a trade-in special. Now that you’ve heard my two cents, I’d love to hear yours! Comment below with your experience with trading in versus selling yourself, and any tips you have.