- 1 where can i trade my car in
- 2 Should You Sell Your Car or Trade it In? – The Math Might Surprise You!
- 3 Should I Trade In My Car or Sell It Myself?
- 4 Trade in your car – uncomplicated and serious
- 5 Sell or Trade In Your Car with Us
where can i trade my car in
How often do they update their prices?
Black Book updates their data weekly. Other sources may also be monthly or weekly.
How do they collect their data?
All collect from multiple sources. Black Book acquires their pricing from wholesale auctions, and retail transactions nationwide.
How do Black Book values compare to others?*
Values from Black Book can be lower than other tools, because of how it defines its vehicle conditions, and it was designed originally for wholesale pricing for businesses.
Each is a reliable source for pricing your car. Those that update more frequently, may respond faster to market fluctuations. For example, fuel price shifts can affect high- or low- mpg vehicles and seasonality can impact demand in certain areas for all- or full-wheel drive, sport-utility, performance and convertible vehicles.
How to know your car's condition?
A small percent of used cars are actually are in top condition. When selling or trading to a dealer, the cost to recondition your car for resale can vary based on what needs repair or refurbishing, even if the rest of your car is in mint mechanical and physical condition. High mileage does make a difference in value for every vehicle condition, though that difference may vary if demand for your specific car is higher.
This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
Should You Sell Your Car or Trade it In? – The Math Might Surprise You!
My wife and I are looking for a more family friendly vehicle, and we will need to get rid of one of our current vehicles when we buy a new one.
The good news is, we aren’t in a rush to either buy a car or sell a car, so we have time to do the research and make the best decision for our needs. This isn’t always the case if you are in a rush to buy a car – for example, your vehicle is totaled in an accident, or if it is stolen. But since we have time, we closely examining our options.
Should You Trade in Your Vehicle or Sell it Privately?
Before you go out and buy a new vehicle, you should consider what you are going to do with the vehicle you are replacing. The two easiest ways are to sell it to the dealership when you buy your new car, or sell it to a private individual. So let’s compare the two options and see which one will give you the best return.
How Much is Your Used Car Worth?
Before deciding what to do with your car, you should get a good idea of the value. In my opinion, the best place to go for used vehicle prices is Kelly Blue Book. They have a great price engine that analyzes local and nationwide vehicle sales to give you a rough valuation based on your vehicle’s condition.
The cool part of the KBB car values is that they show average prices for trade-in values, private party sales, suggested retail vale (buying the car from a dealership), and Certified Pre-owned vehicles (again from a dealership). What you will find is that the Certified Pre-Owned vehicles usually have the highest values for a specific model, followed by the suggested retail value, private party sales, then the trade-in value. The trade-in value is the lowest because the dealerships need to clen/prep the car for sale, then make a profit. The Certified Pre-owned vehicles usually have the highest prices because they have been certified against manufacturer checklists to meet certain quality levels.
Other great ways to compare prices are Edmunds.com, NADA.com, CarMax, Craigslist, recently completed Ebay auctions, and other online sources.
You’re ready to go car shopping once you have a rough idea of your car’s private resale value and trade-in value.
Pros and Cons of Private Sales
Pros – price. You can usually get the best price if you sell your used car to another individual as opposed to trading it in or selling it to a dealer. It can often be easier to negotiate with an individual and on your own time line versus negotiating with a dealership on a short time line.
Cons – it’s a hassle! Selling your car privately can be a hassle. It take a time and energy to sell your car. You will need to take pictures of it, write down the specs and other details, list it online or in the classified ads, and be ready to answer numerous phone calls and questions. Then you have to deal with test drives, negotiations, etc. You also need to be aware of potential scams or thieves (some people who take you car for a test drive may never return).
Tips for selling your car privately. Be prepared to be flexible on the price and with your availability to let people look at it. Only accept cash or a cashier’s check from a local bank. Craigslist is a great place to list your car for free. You can also list your car on Ebay, but be prepared to pay a listing fee. The added benefit is being able to reach a much larger market. This can be invaluable tool if you have a rare car or live in a small market.
Prepare your car! You might be surprised by the number of people who don’t take the time to clean their car before listing it for sale. Cleaning your car thoroughly, inside and out, before taking photos and listing it for sale is always a wise investment. These additional tips can help you get the most value out of a private sale.
Be on the lookout for scams! High ticket items are a target for online scams. Be careful accepting money orders or checks from someone over the internet unless it is someone you know and trust. Another popular scam is someone buying the car or other high ticket item and requesting you to ship it. The buyers will often offer to send you a check for more than your asking price to cover shipping and “your time.” They have your car or other item by the time you find out the check was fake.
Pros and Cons of Trading in Your Used Vehicle
Pros – quick & easy, and potential tax benefits. The biggest benefit to trading in your car is saving time and the hassle of selling your vehicle by yourself. There may also be tax benefits for trading in your car. In most states, when you trade-in your car when purchasing another vehicle, you are only required to pay sales tax on the difference between the trade-in value and the price of the new car. (See below for a break-down showing how you can save money by trading in your vehicle).
Cons – usually lower selling price. You may get less for your trade-in than if you sell it privately. Even with the tax breaks mentioned above, you may find that you will still make more money by selling it on your own. It’s best to run the numbers to see what you would have to be able to sell it for privately to make it worth your time and energy. In come cases it will be close, and in others there is a clear advantage to selling it on your own.
Tips for trading in your used vehicle. Negotiate trade in price separately from the purchase price of your new(er) vehicle. A favorite dealership trick is to complicate negotiations by negotiating both the purchase price of the vehicle you are buying, and your trade-in at the same time. You should also thoroughly clean and detail your car before taking it to the dealership for a trade-in. A clean car may get you a better price.
Tax Benefits of Trading in Your Car
Let’s look at an example that explains why I believe it can be better to trade in your car:
- New car purchase price: $30,000
- Taxes paid (7% of $30,000): $2,100
- Used car sold by owner: $16,000
- Total cost of new car: $32,100 – $16,000 = $16,100
With Trade-in: (Remember, in this example, the price of the trade-in is deducted from the price of the new car for tax purposes).
- New car purchase price – $30,000
- Trade-in Value: $15,000
- Taxes Paid (7% of $15,000): $1,050
- Total cost of new car: $31,050 – 15,000 = $16,050
I admit, these numbers work perfectly, but you will find that even with lower numbers, the final result is very close. For example, when you buy a $25,000 car and have the option of selling your car yourself for $11,000 or trading it in for $10,000, selling the car on your own results in an extra $300 after tax benefits are considered.
Is Trading in Your Car Always Better?
No. Sometimes the dealership will only be able to offer you an auction price, which will likely be much less than you would be willing to accept. And sometimes you can sell your car quickly and easily to a family member, friend, or coworker and not have to worry about the issues listed above. The tax benefits are also less substantial in states with low sales tax.
But, trading in your car is all about convenience. In the second example above, the net difference was only $300 savings for selling the car yourself. When you add up the time and costs involved, that extra $300 may not be worth the hassle.
The last time I bought a new car, I traded my old car in. I estimate I could have made an additional $1,000 on the sale price vs. trade-in price, but after the tax considerations, the total difference would have been in the ballpark of $500. I had other reasons to trade-in as well – I lived in a small town at the time, and actually drove several hours to a large city where I saved well over $1,000 on the price of my new car. That savings more than made up for the difference of trading my old car in.
Trading in your car can save you time and money. When you trade-in your car, the deal happens that day. You do not have to place advertisements, locate a buyer, arrange test drives, wait for the buyer to line up financing, or deal with any other issues, including future liability. At the dealership you sign a few papers, and the car is no longer your responsibility.
The next time you buy a car, investigate how much you can get by selling your car or trading it in. You might just find out that trading your old car in is actually the best deal.
Do you have any tips for either selling your vehicle privately, or for getting the most value on your trade-in?
Should I Trade In My Car or Sell It Myself?
Every person has a different set of needs and circumstances. For some of us, we have the confidence, skill set, and patience to sell a car in the paper, on craigslist, or the Internet. Some of us either don’t want the hassle or we just aren’t confident to sell a car our self.
The first thing to understand is that all dealerships are going to offer you wholesale (for a car they don’t plan on keeping) or trade-in value (for a car they will resell). For many dealerships, wholesale is another profit center for the dealership. Meaning they can give you a certain price and sell it wholesale or at auction for a higher price.
If your vehicle is a trade the dealer plans on keeping, the dealer will typically give you trade in value and sell that car for retail value. That is how they pay their employees, pay the utilities, support the community, pay any reconditioning costs, clean-up fees, provide a warranty, etc. Every dealership has a different set of guidelines they use to value a trade-in they plan on keeping. Most dealers research the book values (both KBB and NADA), research the Internet, call several buyers, ask the Magic 8 Ball, check EBay, check craigslist, basically, gather all the information they can about your trade in. They will give you all the information they have and the most aggressive value for your vehicle, then let you decide if it makes sense to trade your vehicle. If it doesn’t make sense, then don’t trade your vehicle. Maybe it makes more sense to sell the car yourself.
When is the right time to sell my vehicle instead of trading it?
- If your vehicle has an outstanding balance (loan) that is too high to uncover by trading.
- If you don’t like the trade in value you are offered.
- Need more money out of your trade to accomplish a certain price or payment.
Where is the right place to sell my trade in?
Several drawbacks to selling your own car is the time, the expense, the inconvenience, uncertainty, people coming to your house, people driving your car, getting paid, etc. Many people don’t factor in the amount of effort it takes to sell a car.
- The classifieds in the paper can be very expensive. What days are the best to run the ad?
- Craigslist is free, but you never know what you’re getting yourself in to. Spammers use craigslist to gather email addresses, phone numbers, etc. It’s easy to get lost in the volume of listings on craigslist. There are tons of scammers using craigslist everyday to take advantage of someone.
- Ebay is expensive and inconsistent. Sometimes it works and other times it doesn’t. It takes a long time to craft a well written description and post photos of your car.
- Auto Trader and Cars.com are huge national online classifieds. Your ad can be expensive to place, hard for buyers to find, and time consuming to post. If your description is worded wrong, your car may never show up in searches.
- Thieves find a car with a “For Sale” sign parked on a corner or an intersection an easy target…they know you aren’t around.
- Signs in the window are hard to read and they aren’t very effective.
The biggest drawback to selling your car yourself is the risk you take. Most people don’t realize the amount of risk they take with something as simple as selling a car.
- Bringing people to your house could be exposing your home and family to potential thieves.
- People you don’t know are driving your car on your insurance. What if they steal your car? Or worse…What if they wreck your car and injure themselves or someone else?
- Meeting at a neutral place is the best policy, but inconvenient.
- Getting payment can be tricky…checks may bounce or be forged. Even “cashier checks” can be fake. The most popular online scam is…”the bank made the check for too much. Can you just give me change?”
- Someone may damage your car while driving it.
- Negotiating can be tricky and intimidating if you don’t do it regularly.
What is the right car to sell?
- Inexpensive vehicles that are mechanically sound. Usually between $2000 and $5000.
- Hard to find or specialty vehicles.
- Inexpensive imports…usually under $10,000.
What are the benefits to trading my car?
- It’s easier and saves you a bunch of time.
- The dealer takes all the risk to sell your car.
- You save sales tax on the purchase of your new car.
- Since dealers generally only pay sales tax on the trade difference, the lower the difference, the lower the sales tax.
- Better financing rates and terms.
- Better “deal” on the vehicle you are buying. The best dealerships know if there is a trade in, they can sell their car for less. They know they can sell your car for a profit; they don’t have to pay someone to replace the car you bought. They can earn a profit by helping another family with your old car.
Selling or trading you car is a big decision and we hope this was helpful!
Trade in your car – uncomplicated and serious
You would like to get a new car and you would like to sell your second-hand car? Then you have the opportunity to trade in your car. Many car dealerships will offer you such a service – provided that you purchase a current model from them. This way you are getting a discount on the new purchase and at the same time, the choice for your next car is limited. At SellCarGetCash.com you can avoid this disadvantage, as we will take every vehicle from you – without you having further obligations.
We will provide a free estimate of your vehicle and simplify the sale of your second-hand car with a number of benefits. Simply make an appointment in one of our branches across the UAE and why not see for yourself how competent our trained experts are. If you are considering trading in your car, you will find more information about our comprehensive range of services in the following article.
Where can I trade in my old car?
Before buying a new car, most car owners consider whether they should trade in their old car at a trusted dealership or simply sell their car. Trading in a second-hand car is often seen as a relatively uncomplicated process, however, you do not receive direct payment for your car. You will receive a discount on the purchase of your new car that often does not represent the true value of the used car. Additionally, you are bound to selecting your new car from choices available at the dealer. Trading in a vehicle is associated with many disadvantages. It is better to work with SellCarGetCash.com, where instead of having limitations you can enjoy many benefits.
Trading in a car without compromises.
We do not have any complicated processes or barter that are often associated with a trade-in or use a trade-in allowance. We offer you a free and professional appraisal of your car and we will take all cars with a weight up to 3.5 tonnes – and without further obligations. You neither have to purchase a new car nor are you obligated to sell your second-hand after our certified evaluation system. The final decision is completely in your hands because we rely on the trust of our customers.
The advantages of SellCarGetCash.com
The uncomplicated and reputable processing distinguishes our company. If you decide to sell your car on SellCarGetCash.com, the agreed amount will be transferred to your account. Finally, you do not have to worry about the annoying bureaucratic matters. Because we also take care of them. We will deregister your car at the registration office (RTA, or any other respective Muroor/Traffic department in the UAE) and will take care of the required transportation. Do not hesitate to contact us, if you would like to trade in your vehicle.
Please bring the following documents with you to the appointment:
✔ Your vehicle registration card (Mulkiya)
✔ Your Emirates ID (or any other government-issued ID)
✔ Any extras the car might have
✔ Your service history book or any receipts you might have
✔ All sets of keys
Advertising your car and immediately selling it at the highest price
Sell or Trade In Your Car with Us
Our Trade in Car Appraisal Process is Quick and Easy!
Just like our hassle-free policy when it comes to sales, you’ll enjoy the same easy trade in car process. Simple and quick! You can be sure you’ll get a fair and competitive offer when you trade in your car. Get the value you deserve- and far more hassle-free than you’ll find at the traditional car dealership.
You’ll never find an easier, more pleasurable experience when you trade in car than you will at Auction Direct USA. As a car trader at Auction Direct USA, you’ll just meet up with our trade in specialist – who will determine the market price of the vehicle based on mileage, condition and what similar vehicles are selling for in your area.
You’ll enjoy being a car trader while working with our professionally trained appraisers – automotive professionals who usually take 30 minutes or less to make you an offer when you trade in car. If you’re satisfied with the offer you receive with us, we’ll provide you a check right on the spot!
Even if you aren’t buying a car from Auction Direct USA, we’ll still provide any car trader an immediate, no hassle, no obligation cash offer. Our appraisal is good for five days or 500 miles on the vehicle – which provides time to compare Auction Direct USA’s trade in offer with other dealers. We’re confident you’ll find our offer is on the mark!
Car Finder at Auction Direct USA
And Auction Direct USA is one good car finder, too. If you can’t find the used car you’re looking for before the trade, Auction Direct USA is sure to be able to locate the make and model you’re looking to buy! Foreign and domestic, we’ve got the best used and pre owned vehicles on the market today. Our sales team is waiting to work with you as your personal used car finder.
Whether it’s working with you as a car trader or as your professional car finder, Auction Direct USA is ready to help you today!
Sell your Car at Auction Direct USA!
Q Why should I sell my car to Auction Direct USA?
A We are in the business of buying and selling used cars. That’s what we do! We’ll buy your car even if you’re not purchasing a new one from us. We are automotive professionals who will offer you a very competitive market price for your vehicle. And we’ll give you a check right on the spot! Our offers are good for five days or 500 miles so you can go out and compare our price against another dealers offer.
Q How do I sell my car to Auction Direct USA?
A Visit any Auction Direct USA location for an immediate, no hassle, no obligation cash offer. Our professionally trained appraisers usually take 30 minutes or less to make you an offer. It’s that simple!
Sell my car in Raleigh North Carolina to Auction Direct
Sell my car in Rochester New York to Auction Direct