Used Car Trade Values

Every day countless people are looking to buy a new car and most of them have a used car they need to get rid of. They are faced with the decision to either trade in their car or to sell it. It’s a very common situation when buying a new car. If you are in this position then ask yourself these questions to help you decide whether you should sell your car or if a used car trade in is better.

Should you repair your car?

If you are leaning toward selling your used car is then it needs to be in good shape. However, if your car is in need of repairs then you need to consider how much you are going to have to spend on the repairs. If the cost is too high, you might not regain the entire cost when you sell. Considering the cost of repairs is important whether you want to sell your car or trade it in, but it can be easier to get more money on a trade in.

How much research do you want to do?

Regardless of whether you want to sell your used car or trade it in, you will need a do a fair amount of research. You will undoubtedly need to go to some of the top valuation websites, such as kbb.com, Edmunds.com, NADA.com and AutoTrader.com. Either way, you need to establish a realistic price.  Out of these two options, selling your car will more than likely require you to do more research. You will need to figure out things like whether or not you will list your car online, whether you should get your car inspected first and how to handle the paperwork.

Do you like to sell?

Selling your car can take a lot more time than the used car trade ins route. You will need to at least have the strong desire to sell it, but it will make it easier if you actually like selling. You will have to talk with a wide variety of people, show the car, let people take test drives and answer a lot of questions. You also need to “convince” potential buyers to buy your used car, so you will have to know your car very well.

How much do you like paperwork?

When you take on the responsibility of selling your used car to a private buyer then all the paper work is your responsibility. You’re going to want to handle the transaction properly, so you don’t want to fill out the paperwork incorrectly. If you end up doing something wrong, you could continue to be the owner, not only for tax payments, but also for liability too.  If you choose to trade in your used car then the dealership will handle the paperwork for you. All you need to do is drop off the car and sign the necessary papers.

Do you need to sell your used car quickly?

If you need to sell your car immediately then you will have to figure out what your options are, which will take a little research. You will undoubtedly have options for a quick sale, but just know that the price you get will more than likely be less than if you took more time to sell it. It can even be less that if you took it into a dealer as a used car trade in. You should always proceed with a quick sale carefully.

These are just some of the questions to consider when deciding whether you will sell your car or trade it in. There are other considerations, but answering these questions for yourself is a good start. Do a little research, take a little time and you will be able to decide if you should sell your used car or go for the used car trade ins.