You have several options if you are thinking of getting rid of your current car and replacing it with a new one. To name a few, you can list your car in an auto-classified magazine, advertise it online, or put a “for sale” sign in your car’s window. If you choose any of those options, you should be prepared to field inquiries from people who will be haggling over the price. Consider the time you will spend answering calls and showing your car to prospective buyers who will probably ask to test drive the car.
If you’re looking for a hassle-free option, consider trading in your car to the dealership from which you will purchase your new car. Trade-in is the simplest way of getting rid of your used automobile. You can still get money back while avoiding the problems that come with selling your car to private buyers.
Here’s a quick overview of the advantages of trading in your car:
- It is fast and convenient – You don’t have to deal with multiple potential buyers who may want to dicker for a better deal. At a car dealership, you usually just have to deal with one salesperson. They will handle the transaction and walk you through all requisite paperwork.
- It will reduce the price of the new car – The value of the car you are trading in will be deducted from the purchase price of the new car, which means that the amount you will be financing will be lower than the car’s sticker price.
Many people wrongly assume that car dealerships are out to rip them off when they trade in their car. Most dealers will follow an established guide in estimating the value of your car and will give you a fair return price. To ensure an honest deal, check your car’s value online before going to the dealership. If you aren’t happy with the dealer’s terms, shop around for the best financial options, including car financing alternatives.