Should You Trade In or Sell Your Car?
It has come time to upgrade your vehicle. Your family may have expanded and your current car is too small. Our job location may have changed and you now need something better on fuel. Or, you just want something with more options or, simply, nicer than your current vehicle. THe problem is that you have a car right now, so what do you do with it? Do you trade in or sell your car?
There are Benefits to Both Trade In or Sell Your CarOne decision isn’t always better than the other. Mostly, the choice is what works best in your specific situation. We’ll give you a few ideas about the benefits of each to help you decide.
Does Selling My Car Privately Make Sense?First and foremost, you can usually demand more money for your car if you sell privately. The process goes like this:
- You fix up and safety certify your car.
- You place an ad online or in print.
- Car shoppers contact you and arrange to view the car.
- You meet up with the shopper for a test drive and inspection.
- The buyer haggles with you on the price, or decides the car isn’t right for them.
- You make a sales agreement and collect payment from the buyer.
- You sign over the title to the buyer.
- You need to pay up front to fix up and certify your car.
- You need to have time to advertise, then meet up with potential buyers.
- You have to trust that you won’t get ripped off during the test drive.
- You need to be adept at negotiating.
- You need to trust that you won’t get ripped off during payment or paperwork.
Does Trading In My Car Make Sense?Trading in a car might seem like the dealership is taking advantage of you, however, it’s not true. If you’ve sold a car, you know the time, paperwork, and repair bills that go along with it. That’s the responsibility the dealership is taking on. Here’s what the process looks like:
- You bring your car to the dealership as is, or mildly improved.
- You find the car you want and negotiate the price on the car and on the trade-in.
- The dealership takes care of the paperwork, including title transfers and liens.
- The dealership takes care of the reconditioning costs.
- The dealership deals with the advertising and sale.