Should I Sell My Car Privately or Trade it in at a Dealership?

Should I Sell My Car Privately or Trade it in at a Dealership?

So you have decided you need a different vehicle! With the reasons being endless from your vehicle needing too much maintenance, to seeing a newer model you just have to have; you need to sell the one you currently drive. The big question that stands between you and driving away in a new car is: are you going to sell your vehicle on your own, or trade it in at a dealership?

Let’s start off by you selling your vehicle on your own:

You want to do this to make as much money as possible towards your new purchase- but are you really doing just that?

Take Michael for example: Michael has a car he wants to get rid of to get a truck he has been eyeing for quite some time. How is Michael going to advertise to potential buyers he is trying to sell his car?

There are a number of different routes to take:

-          Getting a classified ad in the paper

-          Craigslist

-          EBay

-          Using your personal Facebook

-          A sign in your car window

Selling your vehicle is all about getting in front of the right audience. How much time do you think that will take? If you’re going to post anything on the internet you need good photos of what you’re selling to attract potential buyers. You’ll need to wash your car which we’ll say is about 20 minutes to do that. Maybe add an extra 20-30 minutes for vacuuming/ cleaning the interior. Getting the photos would be another 15-20 minutes. Getting it posted to all the internet outlets such as Craigslist, Ebay, etc. could be another 1 ½ hours. You are now up to 2+ hours of your time!

Now say Michael does this and he has 3 interested parties. Michael has to leave work early for one meeting, which he lost pay from work, has to drive 50 miles to meet another interested party and the third party meets him at his house. That’s another 3 hours you’re spending, on top of the lost pay from work and gas to get to the interested party 50 miles away.

We’re now up to 5+ hours and money out of your pocket to sell this vehicle, and still nothing! Yes, there are lucky people who can sell their vehicle in a very short turn-around time. If you’re a patient person (unlike me,) this could be the route for you!

For those of you who are crunched for time and need immediate results, trading in your vehicle might be the way to go! When you trade in your vehicle, you will have less to worry about! At Victory Ford in Dyersville, Iowa we are very diligent in providing our customers with current market value trade evaluations and try to make the process as convenient for you as possible! We are more than happy to get you an online trade appraisal if you need a quick ballpark figure if you do not have time to visit the dealership!

On top of all of this, you also receive a tax credit when you trade in your vehicle. When you try to sell your vehicle outright, some people forget you have to pay taxes. In the state of Iowa when you trade-in your vehicle, you receive 5% tax credit off the value of your trade-in towards your purchase!

When you do decide to come out to the dealership and take a test-drive remember to bring out your trade for a physical appraisal! Victory Ford uses a lot of different factors to appraise your vehicle along with the condition and age of your vehicle. We consult Kelley Blue Book, NADA, among many other guides, along with our experienced consultants who are trained to evaluate your vehicle!