Something to keep in mind when you’re thinking of trading in your car: The dealership makes a profit off of the car you are trading AND the car you are purchasing.
Bringing your current vehicle into the deal creates a situation where you literally have to negotiate twice.
I’d like to make the argument that selling your vehicle before-hand is the money-saving option.
Walking into a car-buying scenario with cash in your pocket allows you to:
A. Have the option to put down as much, or as little, as you like.
B. Not have to worry about whether or not you’re getting as much as you need/want for your “trade-in”
I realize, and dealers will agree, that there could be a tax-saving incentive (depending on your state) to trading in your car. If you sell at the right price, then that argument goes out the window.
The options you have for trading your car are limited.
1. The private sale option –
can get burdensome. It can take longer and take more effort than most people think. You have to figure out the vehicle’s market value, advertise (i.e. Facebook Marketplace, Autotrader, Craigslist, CarGurus, Kelley Blue Book, etc,…), and meet with strangers/potential buyers. We have a Sell Your Car Guide if you really want to dig into the details that will help you with that option.
2. Selling/ Trading to a dealership –
has its own can of worms to deal with. First off, you will most likely be dealing with a salesperson. It is literally their job to sell you a car. They are typically not qualified to appraise the car, which means you have to wait for a manager to do the appraisal. Meanwhile, the manager is asking the salesperson to test drive you in a “replacement”. Regardless of whether or not you intend to buy another. Ugh.
The BEST option. The option that addresses convenience, ease-of-use and speed is CARZEUS.COM. This car buying service allows users to upload their vehicle information in minutes, receive an offer via text or email, and pick up the vehicle for your convenience. Oh yeah, and they can pay the same day! So you can go buy your new car with CASH IN HAND and the confidence YOU have the advantage.