Deciding to trade in or sell your vehicle is all a matter of preference. There are several factors you should consider when you need to choose what to do with your current car before you buy your next one.
We helped you find a dealer in your area with our quick and secure online application. Now you have to make some important choices during your car buying experience.
A trade in is the typical choice and for good reason. Once you've paid off your financing and have built equity into your vehicle, you can often be offered a fair trade-in value through the dealers in our network. The trade in will help reduce your overall cost of purchase as well as reduce your month to month payments on any financing you need.
Trading in your car, truck, or SUV is usually your best choice and can be especially helpful of making that down payment on by offering a trade for your bad credit auto loan, but there are some situations that it may be better to consider selling instead.
When It's Better to Sell
Before you decide to sell your vehicle, it's always best to find out what the dealer is able to offer you as trade in value. If you think the amount is too low, then maybe you should try to sell the car yourself.
Other reasons that you may cause you to decide to sell versus trading in are:
- You owe more than the trade in would cover.
If the trade in value isn't enough to cover the rest of loan, also known as having negative equity on an auto loan then it's probably a good choice to try and sell it on your own for as much as you can to cover that cost. Typically your private selling value is higher than your trade in value will be.
- You need more money to meet a certain price or monthly payment.
Perhaps you're the type that has the numbers all added up in your head. You know exactly how much you need to have as a down payment or trade in to have an affordable monthly payment. If your trade in value doesn't meet that amount, it could be a good choice to sell it yourself.
Getting Expert Advice
While every car dealer hopes to make a good profit, they also know they need to offer more then the next guy if you show you know what your vehicle is worth. At Auto Credit Express, our national network of dealers and lenders are the good people and experts you need to find the best financing for any credit.
If you haven't found a dealer that can help you like that yet, then take a few moments to complete our secure online application and find the neighborly experts you need today!