Quick, Easy, Convenient: Sell Your Car or Trade It In?

Are you faced with the common dilemma of selling your car or trading it in? If you’ve been Googling ‘sell my car’ and have yet to come up with a solution, we’re here to tell you it’s easier than you think. While many car owners grapple with the idea of selling versus trading in, both have their pros and cons. The good news is that when you work with a great dealership, either option has its rewards; it’s all a matter of what works for you.

Learning about the pros and cons of both selling and trading in can make it easier for you to decide which road fits your needs. Asking yourself a few questions can also help. For instance, what do you want to get out of selling your car? Do you want money to save? Or do you want to upgrade your vehicle to a newer model that suits your life better? Do you owe anything on your auto loan, or is it paid off?

Whether you’re looking to get the most from your car or you just want a streamlined way to change up your ride, we’ll be looking at both options so you can avoid any bumps in the road…

Selling Your Car

Do you think you want to sell? This is perfect for those who need the money or simply don’t drive enough. Whether you have an extra vehicle you no longer use or you moved closer to work and no longer drive as often, selling can be a great way to free up space in your garage while putting some money in your wallet.

Selling your car, though, isn’t as straightforward as you might think. Do you sell it yourself or go with a dealer? Selling it yourself might yield the largest profit but it can take longer and often be stressful. When you sell the vehicle yourself, it’s all on you; you have to market and advertise your vehicle; you have to coordinate with potential buyers and hope they show up—and if they don’t like your price, they may try to haggle; then, when you do sell, you have to handle the paperwork. If your life is always busy, that’s a lot to take on.

So, how about selling to a dealer? It’s true that dealers pay wholesale prices rather than retail. That can be a downside for some buyers who want to maximize profit, but the convenience of selling to a dealer more than makes up for it. Selling to a dealer is quick and easy and is often the preferred method for drivers. When you’re ready to sell, take your vehicle to the dealer. Once there, they will look it over and offer you a fair price. If all sounds good, sign on the dotted line and get cash in the bank the same day!

Selling your car to a dealer is quick and convenient. Selling it yourself can take months of your time and effort and you may still not get the price you were after. If you want to take the stress out of selling, the dealership will handle the paperwork so you can relax and let them do what they do best.

Trading In Your Car

So what about trading in? Trading has lots of pros; for one, it’s easy. Take your vehicle to a dealer and find out how much it’s worth as a trade-in. Rather than getting money in your pocket, you use the money to upgrade your vehicle; this is one smooth transaction that can be completed in the afternoon. If you’re seeking instant results, trading is a great way to do it.

If you still owe money on your auto loan, trading in for a new ride might be easier. If you wish to sell, you have no choice but to pay off the existing loan beforehand. What if you don’t have the money? In this case, selling isn’t really an option, but when you decide to upgrade, the trade-in value can go towards paying off the existing auto loan. A balance can even be applied to your new loan for your new car so you can upgrade without breaking your budget.

When you trade in, the dealer does the paperwork; this is a big plus. If you’re selling your vehicle yourself, it’s all on you, which can quickly get overwhelming. If you’re seeking less stress and more reward, trading in has its benefits.

Are there any cons to trading in your vehicle? Like selling, when you work with a dealer, they offer wholesale prices as opposed to retail. This means you would likely get more from selling privately. How do you decide what to do? Knowing the value of your car can help you make up your mind. The difference might be a few hundred or a few thousand dollars. If you simply want to upgrade, trading is a smart move to minimize anxiety and hassle. But if you’re not in a rush and have the ability to sell your vehicle yourself, you can end up pocketing more depending on the age and condition of your model.

What to Consider

We’ve touched on the pros and cons of selling or trading in your vehicle. So, how do you know which is right for you? Let’s recap…

Selling your car gives you money that you can save for a rainy day or put toward a new ride. Selling your vehicle yourself might get you the largest profit, but it can come at the expense of your time, and you might not get top dollar. Being realistic when you’re calculating a value for your car can help you know where it should be fairly priced.

Selling yourself means more cash, but it means investing in marketing to find the right buyer. You also have to schedule a time to show the car to the potential buyer and hope they show up. They may want to look at the car several times before deciding to purchase and, even then, might want to haggle over price. Then comes the paperwork, which you are responsible for ensuring is in order for a smooth transition. Sounds like a lot of work for a couple extra bucks, right? Also, if you owe money on your car, you need to pay off the loan before it can be sold; if you aren’t in a position to do that, you might have to wait to sell.

Selling to a dealership is fast and convenient; it is ideal for drivers who don’t have a lot of time. Maybe you’re moving across the country, or you just need more space in your driveway. Take your car to the dealer and get cash the same day. Many drivers prefer to sell to a dealer because they streamline the process, do the car inspection, and calculate a wholesale value. You can leave with a check in your pocket that same day and be on your way; there’s no waiting around or wondering when your car will sell. That peace of mind is often priceless to drivers who need to sell and don’t want to mess around. The biggest con is the dealerships offer wholesale pricing rather than retail.

Then, there is trading in your vehicle. This is often done by drivers who wish to upgrade their ride. Trading in is like selling your vehicle and buying a new one all at once, but a single clean transaction helps keep things simple. The dealer handles all the paperwork, so the transition from one vehicle to the other is easy and can get wrapped up in a matter of hours. Drivers can also potentially save on sales tax if they are trading in rather than straight-up selling.

Trading in is great for someone who might still owe a little on their car loan. Depending on the trade-in value, that amount can pay off your car loan and leave you free to trade up. However, if you are inverted in your loan and owe more than the trade-in value, you can see about transferring that amount to a new auto loan so you can still get into a new vehicle without spending a small fortune you might not have.

Trading in also means you might not get top dollar for your vehicle, but if you’re going to be getting behind the wheel of a new dream car, that might be alright with you.

Whatever choice sounds good, doing your research and having realistic expectations is a smart way to get the most from your car-selling experience. Working closely with a trusted dealer means a fast and easy way to upgrade your drive or make some extra money from an underused or outdated ride, whereas selling yourself can take more time but may yield slightly more profit.

Regardless of the path you choose, the goal is often the same: to sell a car quickly, conveniently, and simply. By taking the additional time at the start to research and plan your strategy, you’ll find it’s easier to navigate the world of auto selling and trading with confidence.