If you’re on the move for buying a new car, one of the most important questions to ask is “Should I sell my vehicle myself or trade it in the dealership?” While the answer lies in your car’s condition, finance status, and the amount of time you have, privately selling or trading in your car has its advantages and disadvantages. If you need some guidance to your final decision, here are some insight into both selling processes.
What makes the trade-in process with your local dealership a breeze is how quick and stress-free it is! Leave all the paperwork and heavy lifting to the car professionals when trading in your car. This process is ideal for individuals looking for a speedy and convenient option that’ll have you in and out of the dealership with a brand new car. Because you’re trading in your old car for a new one, this also helps reduce the cost of a down payment. In addition, compared to private buyers dealerships will overlook your vehicle’s year, mileage and even condition.
Don’t get ahead of yourself just yet! Trading in your car also has its disadvantages as well. Keep in mind that dealerships need to make their money, too, meaning they’ll most likely offer you less money for your car’s value. The biggest takeaway is; if your car is in low demand with high mileage and in poor condition, trading in your car could be the best possible choice to consider for your time and money.
If you don’t mind taking the time to sell your car privately, it can be totally worth it with this selling process. Keep in mind, if your car is in awesome shape and in high demand, this can be a huge advantage to getting your money’s worth. Selling your car privately is also worth doing for rare or collectable cars, which can selling very quickly for a very high bid.
Because you’re a one-man show for selling your own car, it’s definitely going to take a lot of time and effort to do so– scheduling test drives, handling negotiations, etc. Remember, if your car has accumulated a higher mileage and/or if its in poor condition, this can be a downfall for getting less or getting it to quicker. Selling your car privately can also mean dealing with “low ballers” and having to manage your own paperwork or legality issues.