Trading Your Used Car
Trading your car is usually the quickest and easiest way to get rid of it. In fact, the moment you decide you’re ready for your next vehicle, any dealer is likely happy to take your current vehicle off of your hands.
If you are considering trading in your vehicle, ask the dealer for an estimate. The dealer will assess the condition of your car, its age, and other factors to determine a fair trade value. Trade-in values can always be negotiated, or you can simply accept what the dealer offers. When you reach an agreement, the amount the dealer gives you for your trade-in will be deducted from the amount you pay for your new vehicle.
That sounds simple enough. So why don’t more people trade? Dealership trade-ins get a bad reputation because consumers believe they get less than their car is worth. Trade value is sometimes lower than the amount you could sell the car for yourself, but by trading in you avoid significant perils. You save time, effort and potential post-sale headaches because the dealer assumes the risk of purchasing a used car.
Selling Your Used Car
If you plan on selling your used car, be wary of the work involved in this process. Preparing your vehicle for sale will take time and maybe even money for things like cleaning product and minor repairs.Once the vehicle has been cleaned and fixed up, you’ll need to determine its value. Kelley Blue Book is a good starting point, but remember that this is simply a suggested value. You will still have to deal with negotiation and be prepared to take less than that in a private sale if you intend to get rid of it quickly.
Most importantly, carefully consider the liability involved with a private sale. There is a chance that something could go wrong with the vehicle you’re selling. For example, an unforeseeable circumstance like the transmission going out a week after you pass the vehicle onto its new owner. As a seller, you could be held accountable and potentially face legal action for this. This is a worst case scenario, but you need to be aware of such possibilities and prepared to face them if you are going to sell your car privately.
Whether you decide to trade or sell your car is up to you, but it’s important to start the process with proper research. To learn how much your current vehicle is worth contact us at Buckeye Honda or Buckeye Toyota and let us take a look at your vehicle. We can go over all of your options in a timely and professional manner.