Should I trade in my car or sell it privately?
The big question, should I sell my car myself or just trade it in to the dealership? There are many advantages and disadvantages to both.
If you decide to sell your car yourself, you will probably get more money from an individual than a dealership. What you need to ask yourself is the extra money worth the cost? You will still need some sort of insurance while you are selling your car. In Addition, you will spend time answering phone calls and showing people the car,along with advertising the car, which costs money. One way to save on advertising your automobile is to find local websites that will let you sell your car for free. One such website is Chicagolandauto.com for the Chicago and Chicagoland area. Each major city will have a free classified ad system that will let you post your vehicle. Take time and research your options before spending big money on advertising.
However, if you don’t have the time or the patience, trading in your car might be the best way to go. Again as noted earlier, you do pay the price of receiving less money. In addition, if your car isn’t worth much money, you might be far better off trading it in. Dealerships will then just sell your car at auctions.
How do you know how much your old car is worth?
You can not just go stick any price on your car and expect to sell it. You will need to research your car’s value. There are a couple ways you can do this. One is by looking at the National Auto Dealers Association Office Used Car Guide, which is at your local library. Another is through consumer reports or Kelley’s blue book. We feel the best way is to look at your local classified websites in your area and see how much similar cars are selling for. Just because one of these big companies such as Kelley's Blue Book says your car is a certain value, doesn't mean it is in your area. Your area might be over saturated with that model, which would then fetch you a lower price. However, you might be one of the only sellers which would then get you a higher price. Again, the best way is to look at your local market and see what the same car along with similar models are being sold for.