Do you want to get rid of your car now? You have several choices: you can put a “for sale” sign on the window, hoping that interested passers-by can see it. You can list cars in classified ads or Craigslist, and deal with phone calls and emails from potential buyers who may bargain. Or, you can simply sell your car to a dealer and buy a new one.
Trade in is quite common – the process of used car trading is fast, perhaps the easiest way. However, some people completely avoid the trade-in and prefer to eliminate potential buyers themselves rather than bargain with dealers. However, private party sales are not as simple as they seem. Before giving up the idea of trade-in, understand what you might get from doing so and reconsider the potential risks.
The benefits of changing cars
There are several factors to consider when deciding the best way to used car trading. Before trying to sell your own car, find out how trade in can help.
You only deal with the dealer
If you discount your old car, the dealer is responsible for the whole deal. All you need to do is come to the scene, negotiate the deal, and you're one step closer to buying a new car. Although it's good to sell your own car, if you just don't have the time or don't want to sell your car, it's better to change it.
It is fast and convenient
Private party selling takes time and effort: advertising cars, meeting potential buyers, transferring ownership. It can take weeks or even months to find a buyer. On the other hand, when you trade your old car for a new one, you can get rid of it in a day or two.
It reduces the price of your new car
If you own your car completely, the dealer will apply your discount to your new car. For example, if you buy a car for $25000 and the dealer gives you $6000 to trade in, you only need a $19000 loan. And because the dealer reduces the final price of your car by several thousand dollars, you pay less sales tax.
