Your car is one of your biggest assets. This means that buying and selling your car are always very important decisions you want to make the best choice so that you get the best value.
While changing cars, most car owners have two choices with regard to their previous vehicle: either to sell it or trade it in with the same dealer they’re buying their new car from. With such a major transaction, it’s essential to think through all the pros and cons before making a decision. Here we’ve compared trading in and selling in terms of price, convenience, and timing so that you can find out the best option for you.
Car Price
Let’s start with one of the most important considerations, the value of the vehicle which option can bring you a higher value? In general, it’s obvious that selling the car will bring you more money than trading in.
Trade-ins must be done with the same dealer that you’re buying from, which means that you don’t have much leeway for bargaining and are likely to give away your car for less than market price. If your car is still in good condition, you will probably lose a significant amount of money by trading in. However, if your car is worn and needs serious repairs, then it will be difficult to sell it for a good price.
Remove your junk car today: City Car Removals
And you’ll need to fork out added repair expenses to get it back to market standards. In this case, it may be a better idea to go for a trade-in option. You’ll get rid of the car and all its maintenance issues off your hands, plus the money can be used immediately to offset the downpayment for your new vehicle!
A good way to find out your car’s market value is to get a valuation this will tell you how much you can potentially earn from selling and compare that with your trade-in offers.
Convenience
Another thing to think about is the hassle involved in changing cars. Selling can be very tedious and time taking process. You have to invest in advertising your car and need to arrange the meet up with multiple dealers and private buyers in order to find the best price.
Once you’ve found your buyer, there’s still a lot of haggling and paperwork need to be done. Even though you might earn more money by selling your car, you also waste quite a lot of time and effort. On the other hand, a trade-in is always hassle-free.
You settle your old car and get a new car all in just one day, and with the same dealer, so there’s no need for any advertising or searching. The dealer will also handle the paperwork for both your new and old car. So in terms of convenience, you can definitely save trouble with trade-ins option.
If you sell your car through a third-party, you won’t need to worry about advertising, bargaining or sourcing for the best price! Simply submit an inquiry, and your car will be advertised for you in an online bidding system where interested buyers place competitive offers. In 24 hours, you can get the highest offer on the market for your car, without even leaving your house. A trade-in is definitely much more easy and straightforward than handling the complicated selling process.
Efficiency
Finally, let’s check which method is most efficient in completing your transaction? In the midst of your busy lifestyle, it can be quite difficult to have this big matter hanging unsettled. In this way, trade-ins definitely win out overseas.
Selling your car can take up to months if your car is not in good condition or if its market demand is low. Moreover, as your car depreciates, you could be losing money for each day of delay. If the make and model of your car are not popular on the market, trading in might is the best choice for you. A trade-in can be done in a day, while selling can take months if your car isn’t in good condition.
So what’s the final verdict?
While selling will get you a higher price, trading in is definitely more easy and efficient. The process of selling can be quite troublesome if you’re doing it by yourself. On top of that, it will need a very long time, depending on the market demand for your car.
If you’re planning to use the money from selling to settle the new car’s down payment in that way it may be a good idea to just do a trade-in. However, for those who really want to earn more through selling, a third-party platform is the ideal option to get high prices but also cut down on the hassle.
