Now is a great time to trade-in your current vehicle

Now is a great time to trade-in your current vehicle

 

We are sure you have heard that trading in your vehicle isn't beneficial to you when buying a new or pre-owned vehicle. That's because the amount of money you receive for your trade-in will always be less than the market value of your vehicle. Therefore, wouldn't you be better off selling it yourself? Like all things in life, it is not black or white, but actually in the grey zone.

 

A few benefits of trading in your vehicle to a dealership

 

For starters, it is important to understand that when you trade in your vehicle, you are getting the book value. Should you decide to use the money you receive as a down payment on your next vehicle, the amount of your trade-in will be deducted before taxes are calculated. If you are selling the vehicle yourself and using the money as a down payment, it will be applied after taxes are calculated. If you are buying a $30,000 or $40,000 or even a $50,000 vehicle, the difference between the value of your trade-in calculated with taxes and the value of selling the vehicle yourself isn't as wide.

 

Moreover, selling a vehicle yourself isn't necessarily enjoyable. You will be getting random phone calls from strangers at all times of the day and night, and probably on weekends. You will also have to set some time aside to meet with these potential buyers at a time that works for them. And when you do sell your vehicle, you could be held responsible if a problem arises right after the sale. You have to determine if a few thousand dollars are worth time and the risks of selling your vehicle yourself.

 

Last but not least, the value of vehicles on the market has increased in recent years. You will still get less than the market value for your trade-in, but you may get significantly more than you thought and it may just be enough to avoid all of the problems that come with selling the vehicle yourself. Give us a call today to learn more.

 

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