So you have decided you want to upgrade you vehicle. You have done your homework and found the new car you wish to purchase. Now the question, will you sell your current one privately or will you trade it in. Below is a quick guide of the pros and cons of both options.
Selling privately often leaves you with more cash in your back pocket. But it comes with a price of time and money to be spent initially. If you list privately you may need to spend money on a car valet prior to taking photos and listing on a sale site. To make the listing will cost between $30-$100 as well. You will need to invest time in showing potential buyers your car and expect to answer a lot of questions. If dealing with potential buyers is not an issue for you, then give it a crack. It pays to consider also the type of car you have to sell. If it is a well known make and model, low to medium KMs, good condition and well maintained then you are likely to sell easily. Perhaps consider trading your vehicle in if it is old, running poorly and done masses of KMs on the odometer. Trading your vehicle in would be the better option here.
Car dealers will take any trade in car, any make or model, any condition. They won’t inspect with a magnifying glass any imperfections. The downside is however you won’t get as high as a price as to selling privately. But if you don’t have time to sell yourself, trading it in is often a great option.
The dealer will take your car without you needing to clean it up (however, you may get a few extra bucks if it is in a clean and tidy manner) and on sell it. They will offer you a deflated offer, as they are then the ones who will clean it up and invest the money and time in it to sell. They too need to make a few dollars from it.
Trading in your vehicle is incredibly simple and takes the stress out of the whole transaction. You drive their in your old car, load in your personal items or perhaps car seats into the new car, complete the paper work and drive off. Too easy.
If you’re in no rush and you have spare time, try selling privately first. The choice is yours.