Should I Trade My Vehicle in or Sell it Privately?
Most people look at selling their current vehicle when they are ready to purchase a new one. They have two options to choose from; they can either sell it outright to an individual buyer or they can trade it into a car dealer where they plan to buy their next automobile. They may question which option is the best for them.
One of the big reasons that people consider selling their car to a person instead of using it as a trade-in is due to price. They often assume they will get a higher price from an individual since it will not be resold. However, most dealers will work with you to find a price that suits your needs while taking into account what the car is really worth. In actuality, dealers often have more room to negotiate than a person with a specific amount of cash on hand.
A dealer will also do the market research to know the value of the vehicle you are selling based on its condition. A person looking to buy a car will only be thinking about how much they are willing to spend.
Another concern for many car owners looking to buy something new is the length of time it may take to sell their vehicle. For instance, they could advertise for weeks and have multiple phone calls and visits with no offers. This not only takes up the valuable time of the seller, but it delays their ability to purchase a new vehicle.
When selling to a dealership, you can also wait until you find the right deal on a new car before you trade in your current one. If you know there will be a special promotion on a particular weekend or around a holiday, you can bring your trade-in to the dealership and know you will be leaving with a new car. If you are waiting for it to sell, you may miss your opportunity for a good deal on the new vehicle.
Many people think that a dealer is going to give them a low trade-in for their vehicle to make a nice profit on it. However, this is usually not the case. For one thing, a dealer is looking at each customer as a long-term relationship. They not only want to sell you a car now, but they want you to come back and bring your friends.
Dealers know that you can find out what your car is worth and if they don't give you an honest trade-in for it, you'll know and you won't return. Reputation is important to car dealers and they have to act fairly and honestly to keep their customers happy. While that doesn't mean every car will bring top dollar for a trade-in, it does mean that it will be a fair price for what it is worth