You’ve decided it’s time for a new car. But what should you do with the old one? Trading it in at the new car dealership is the first thought that comes to most peoples’ minds. But is it the best answer for you? It’s possible you might come out ahead by selling the car yourself.
The decision usually comes down to what your car is worth as a trade-in, and whether you are willing to pay the price and do the work necessary to sell the car on your own.
A great place to start in making the decision to trade or to sell it yourself is to research the trade-in value of the car you now own. Use resources like this Web site or this site to get a quick quote on what a used car like yours is worth.
Publications like Kelly Blue Book and the NADA guide will also give you an idea of what a vehicle of your car’s year, make and model might bring as a trade. These books also tell you what a car like yours is worth in a sale between yourself and another private motorist – and usually that price is higher. Since the dealership needs to trade for your car at a price that leaves room for markup and resale, cutting out the dealer as the middle-man lets you make that additional money for yourself, instead.
However, some cost and hassle will go into selling the car yourself. You’ll probably buy an ad online or in the local paper to get your car’s information and your phone number out to the buying public. And you’ll need to be willing to meet with anywhere from one or a few, to dozens, of prospective buyers, until you find the one who wants your car enough to pay the price you desire.
Sometimes, dealers will offer you enough for your trade to make it well worth giving up all that hassle of selling it by yourself. If your car is a fairly recent model, by a manufacturer with a strong reputation for reliable cars and high resale value, and you’ve kept your car well maintained, with low to average miles, you have a good candidate for trade-in. Ask for a quote from a site like this or one like this to get started!
Tags: Car trade-in