When buying a new car, many buyers no longer need their current automobile and want to either trade their car in at a dealership or sell to a private buyer. Both strategies offer advantages and disadvantages. Generally, trading a car in tends to be easier, but selling a car on your own can net you a better return.
Benefits of trading a car in
If you’re buying a car from a dealership, you’ll usually have no problem receiving an offer for your current car while purchasing your next vehicle. A trade-in vehicle offers you instant, up-front cash that you immediately apply to your vehicle purchase.
The catch? You probably won’t be getting the most money possible for your car when trading it in. In order for the dealer to make money on your vehicle, they need to be able to re-sell it at a profit after accounting for the costs they incur when buying it from you and preparing it for sale, so the price they offer will typically be considerably less than the market value of the car or truck.
Trading your car in is a great way to get a quick return on your vehicle without any hassle. If you’re too busy to prepare and list your car for sale, or if you feel the sales process is more trouble than it’s worth, you should consider trading in your vehicle. That way, you can start enjoying your new vehicle as soon as possible.
How do I sell my car?
If your top priority is getting the best financial return possible on your current car, selling the car yourself is probably a better option. If you conduct a private sale, you can usually sell the car for a price closer to its market value.
To successfully sell your vehicle, follow these five easy steps: