Getting a new car can be very exciting. But it means that you have to do something with your old one. You have some options. You can keep it, trade it in, or sell it. If you choose to keep it, then you still have to pay for your insurance and all the upkeep. However, if you choose to trade it in or sell it, you are looking at some monetary gains. Is trading your car in the best thing for you to do?
Trading Your Car In
When you trade your car in, you are selling it to the dealer so that you can get a discount on your new car. It may not be in your best interest to trade in your car. The dealer isn't going to want to pay you what you might think your car is worth. Their goal is to pay you the same amount that they would pay if they bought your car at an auction. That may or may not be the same as the current tables say your car should be valued.
Benefits of trading in
One benefit of trading your car in is that the dealer isn't going to argue about the shape it's in. Some dealerships will even accept cars that aren't running. As long as you can get the car to their lot, they will accept it. Of course, the worse shape the car is in, the less they are going to want to pay you. Another benefit is that you don't have to put a lot of work into the whole process. You can negotiate for the cost of your trade while you are negotiating for the price of your car.
Disadvantages of trading in
If you have an older model car or a less popular style car, you are going to get a low-ball offer. The dealership has to be able to make a profit when they sell your car, whether they are going to sell it at auction or sell it to another customer. Another drawback is if the dealership offers you a trade in deal that seems like it is overly high, they may be raising the price of the new car to make up their bottom line.
If you don't want to keep your old car, you can use it to help get the price of your new car down to a more affordable range. Contact U Pick U Save for more information.
Share16 March 2015
