When it comes time to purchase a new vehicle, you will first need to decide on what to do with your current model. Will you sell it yourself through a private sale or will you trade it in at the local dealership? Each option has pros and cons that we discuss in more detail below.
Pros and Cons of Private Sale vs Trade In
Private Sale Advantages
The biggest advantage to a private sale is money. You can often sell your vehicle privately for a lot closer to its current market value. Trading it in at the dealership will result in a smaller offer because the dealership needs to pay to prepare the vehicle for sale and needs to make a profit on the sale. You are also on your own timeline during a private sale and can take your time negotiating with multiple buyers.
The largest advantage to a trade-in is that it is comparatively easy. With a private sale, you will be in charge of taking pictures of your car, posting it for sale, and navigating the negotiations with prospective buyers. You will also be in charge of all paperwork. With a trade-in, it’s as simple as negotiating a price with the dealership (usually the dealership where you are buying a new/used vehicle) and handing over the keys. Depending on where you live, there may also be some tax advantages with a trade-in. Many buyers find the ease of a trade-in worth the smaller overall price for their vehicle.
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If you do decide that trading in your vehicle is the right path for you, give the Coast to Coast Motors team a call at 888-418-8517 and we can walk you through the trade-in options available at the dealership. We would also be happy to begin talking about how much you could expect on a trade in with your current vehicle.