My Old Car—Should I Trade it In or Sell It?

vehicle salesWhen the time comes to get a new car, most people want to get rid of their old one. To do this, you have two choices: you can trade it in or sell it yourself. Let’s take a look at some of the pros and cons of each option to help you decide which is best for you.

Trading it in

When you trade in your car, the dealership will evaluate your car, look at all of its features, consider any damage and offer you a price. You can use that money and put it directly toward the purchase of your next car. This is by far the easiest way to rid yourself of your old set of wheels since there is very little you have to do.

Selling it yourself

If you want to sell your car yourself, this will take a lot more work. You will have to advertise your vehicle, determine how much you are willing to sell it for, keep it insured, and take time out of your day for test drives.

When you do a private-party sale of your car, you may end up getting more money for it, but after you consider the cost of keeping it insured, possibly paying for advertising, doing any necessary cleaning and repairs, and taking time for test drives, that financial benefit begins to wane.

In the end, if you are willing to take the time and effort required to sell your own car, then by all means, go for it. But, if you prefer a no-hassle approach, bring your old car in to Friendly Ford and we promise to give you a fair price for your car.