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What to Consider When Buying A Used Car: Sell or Trade In?

By Admin | Posted in Uncategorized on Monday, April 17th, 2017 at 6:09 pm

 

If you’re looking to buy a new car, it can be difficult to know whether you should try to sell it privately or trade it in. A private sale can be a pain, but might get you more money for your old ride.

Even so, there are also quite a few advantages to trading in your vehicle.

What to Consider When Buying A Used Car: Sell or Trade In?

What Have You Got To Gain?

In most states, you are subject to a break on sales tax. With this break, you would only be taxed on the price of the new car minus the established trade-in value of your old car. So if you decide that you want to sell your car privately, make sure you will still have enough leftover to pay for the sales tax.

You may want to avoid the hassle of selling it yourself and decide to trade it in. Either way, you should get a dealership trade evaluation. That way, if you try selling it yourself first, you know how to price it and what offers to decline.

If your car is “in-demand” with private sellers, you’ll most likely get a wide range of offers. But if not, you can expect low bids and insincere buyer inquiries.

What if you car is in excellent condition and has low mileage? It may be worth your while to go through the dealership.

Other Reasons to Take It To A Dealer

Convenience: Drop one car off to pick up your new one. It can complicate things if you only have one car. Even if your previous vehicle doesn’t run, has high mileage, or any other number of reasons that it might be difficult to sell to a private buyer, a dealership has you covered. They can easily take that vehicle off your hands, and will often still take a bit off the full price tag of the vehicle you’re interested in buying.

Time: It can sometimes take a long time to sell a car privately. Unless there is a high demand for your vehicle, it may take weeks or even months to get rid of it.

Trading in a vehicle to a dealership can take as little as five minutes.

Things to Keep In Mind

Remember to be realistic about what your vehicle is worth. You can use a multitude of online resources to get an estimate of what your car may be worth.

Check out NADA.com, Kelley Blue Book and Edmund’s True Market Value to get a ballpark value. The last thing you want to do is sell a vehicle for too little!

Here at TLC Motors, we can offer you a trade-in deal you can’t refuse, guaranteed reliable service, and a selection of used vehicles you don’t want to miss. Come down to our lot in Moore, SC.

Contact us if you have any questions. We can’t wait to help make your next car buying experience a satisfying one.

The post What to Consider When Buying A Used Car: Sell or Trade In? appeared first on TLC Motors, Inc. Blog.

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