Many buyers prefer to simply trade their current car at a dealer, even if they may not get that much money. Others choose to run errands and find the right buyers to get better prices. Here are some suggestions to help you make a decision.
It’s a simple way to deal with your current car. Just give it to the dealer.
You make less money than you sell yourself. At best, you should expect to get the wholesale value of the car.
You can use the old for new amount as the down payment for a new car.
In order to get the best price, you may need to bargain with an experienced salesperson to trade the old for the new.
And tax incentives. Most states only levy a sales tax on the difference between the old car discount and the new car price.
This requires considerable effort, including advertising, answering phone calls, dealing with strangers and conducting test drives.
You usually get the most money from your car, between the retail and wholesale value of the car.
You may not be able to sell your current car until you buy a new one. So you can’t use the money as a down payment. If the old car is not paid off, you may have an overlap of a car loan before your used car trading.
You need to negotiate with a buyer, but most people don’t usually have the bargaining experience of a professional car salesman.
You may have to pay more sales tax on your new car, but if you sell your old car to make more money, you can still make more money.