 | Nate Evans is a 4th generation owner and operator of Evans Motors located in Pittsburg and Girard. Evans Motors has been in business and serving the area since 1935. For more information call 1-888-414-3890 or visit www.evansmotors.net. |
Cars, Trucks, Vans & Automotive
2010-09-01 10:29:00
Trade or sell my car…which is best?
Answer: Sometimes the toughest part of purchasing a new or used vehicle is figuring out what to do with the one you currently have. Trading in is about convenience — there are no advertisements to place for someone to purchase your car, no test drives to arrange with potential buyers and no legalities to fight if your recently-sold car unexpectedly breaks down. In fact, because even dealers of pre-owned cars generally want your trade-in, it should be in their best interest to make procedure as easy as possible. Trading in a car is usually a same-day transaction with minimal fuss and bother. The dealer assesses the condition of your car, its age and other factors, and determines its trade-in value. You can bargain over the trade-in value if you like, or simply accept the dealer's value. In the end, the amount the dealer gives you for your trade-in is deducted from the amount you pay for your new vehicle.
Trade-in value is generally lower than the amount you could sell the car for yourself in a private-party sale, but the market has changed significantly in recent years and you may be surprised in the final offer made by the dealer. By trading in you avoid significant concern. You save time, effort and potential post-sale headaches. By selling the car yourself you are basically making yourself available to the buyer. When you trade your car in to a dealer, you essentially absolve yourself of liability. For those people without the time or inclination to sell a car on their own, trading in makes sense. Once a car is in the dealer's hands, it's the dealer's responsibility to prepare it and handle the resale.
Selling the Car Yourself:
Selling the car on your own may be your only option if you are buying your next vehicle through a private-party sale, and is generally good assurance that you'll obtain top dollar. Be aware of the work involved. Prepping your vehicle for sale will take time, and depending on its condition may also cost you some money. Honestly assess the car's condition, and then decide how much you want to spend on minor repairs, always remembering the liability involved with a private-party sale. Be sure to fix things well enough to avoid running into possible legal troubles farther down the road. Once the vehicle has been cleaned and repaired, you'll need to determine what it's worth.
The next step is to advertise and field phone calls. If the car doesn't sell right away, make sure you can afford to run ads for an extended period of time if necessary. Remember to set aside time to answer phone calls and meet interested parties for test drives. Prepare yourself for possible scheduling hassles like multiple buyers wanting to see the car at the same time, and for negotiating in general. How low a price will you really accept? How will you handle competing offers and other dilemmas? When you finally find a buyer and have the money in hand, the last step is to transfer the title and registration, and cancel your insurance on the vehicle.
