Should You Trade in Your Old Car or Do a Private Sale?

Should You Trade in Your Old Car or Do a Private Sale?

Buying a new car is exciting, but it creates a dilemma. What should you do with your old car? If you aren’t planning to hand it down to a child or grandchild, you can either trade it in to the dealership where you’re purchasing your new car or sell it in a private transaction. 

Convenience

Nothing beats a trade-in deal for convenience. All you have to do is get the old car to the dealership, sign the paperwork, and drive away in your new car. To get top dollar for your trade-in, take the time to get any needed repairs done and clean up the vehicle.

In comparison, selling your old car by yourself is a major hassle. It takes time to snap pictures, post the ad online, and respond to everyone who gets in touch. Most of the people who will respond to your ad are probably just window-shopping, rather than serious about buying. Plus, you’ll have to deal with meeting up with people, scheduling test drives, and negotiating with potential buyers.

Safety

Another perk of trading in your old vehicle at a dealership is the safety factor. You can trust that the dealership staff won’t try to rob you, give you a bad check, or otherwise threaten your safety. When meeting with private buyers, safety is a major concern. It’s always best to have someone go with you to meet a private buyer. Even then, there is the potential for something to go wrong.

Value

One of the perks of doing a private sale instead of a trade-in is that you may get more money for your car. However, there’s little chance of getting as much as you ask for in your ad. Plus, doing a trade-in offers tax advantages in many states. You may only need to pay sales tax on the difference between your old car and your new car, rather than paying tax on the full price of the new car. 


When it’s time for an upgrade, head over to Sierra Toyota in Sierra Vista, AZ. They have a vast selection of new and previously owned vehicles. Call their office at (520) 458-8880 or check out their website to get a KBB instant cash offer on your trade-in!