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When it comes time to get a new car, you come across a problem; what to do with your old one? Typically you have two options, sell it on your own or trade it in to the dealership you are buying your new car from.
Selling Your Car
This option comes with much more work. First, you must clean your car (inside and out) for showings. Then comes posting it for sale on various sites or newspapers. Then you field the calls and schedule times to meet up with potential buyers. From there, you give up your time to drive out and meet, trust them as they take it for a test drive, and after you’ve finally found someone to buy it – then you’ve got all the paperwork.
Yes, it’s a lot of work. But the plus side is, that you’ll likely get paid for it in the long run as you’ll be able to get more for your car (most of the time). Typically, that is the driving factor behind people wanting to sell their car themselves.
Trading In Your Car
If you want to go the other route and trade in your vehicle to the dealership, you’ll save yourself a lot of time and hassle. That’s the main reason people will choose to trade in their vehicle, it’s simply much easier. However, will you get as much for your trade in as you will selling it outright? Probably not, but it’s a trade off to consider. Plus, typically you will only pay taxes on the difference between your new car less your trade in price so you will save that money as well.
In either case, you’ll want to figure out the value of your car before you start either process to give yourself an idea of what you want to get for your vehicle. Here is a great resource to get an estimate on your vehicle. Just choose your make, model, year, mileage, vehicle options and more and it will give you a range of values (varying from fair condition to excellent condition).
In the end, the decision is up to you and what works best for you. Either option is going to get you closer to your new car in the long run!
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