If the time is right for you to consider buying a newer car, you may be wondering what to do with your current vehicle. Should you attempt to sell it privately or just trade it in to the dealership when you purchase your next car? And while you may be tempted by the prospect of making a profit by selling the vehicle yourself, trading it in may be a better option in the long run.
The Benefits of Letting the Dealership Handle Everything
Using the cash value of your old car as part or all of your down payment on your new car will simplify your car buying experience.
- Time: Unless you know someone who happens to be in the market for a used car, selling a vehicle can be a time consuming process. You will need to advertise that the car is for sale, field phone calls and/or emails from prospective buyers, and offer test drives. Whereas, trading your vehicle in to a dealership requires you to do none of these things.
- Possible Tax Advantage: Because most states charge sales tax only on the difference between the trade-in value and the new car price, you may save a little money by simply making the vehicle that you're driving a part of your new car deal.
- Convenience: If you have decided that having a newer car would be advantageous, you probably want to acquire that vehicle sooner as opposed to later. So, if you are depending on the sale of the old car to provide money to put down on the purchase of the new car, you may not be able to wait for your current vehicle to sell. Trading your car in requires no waiting, and you will still have your down payment.
Make Things Even Easier by Getting the Right Financing
If you really want to make buying a new or newer car as simple and convenient as possible, you may want to consider getting your auto loan through your dealer. It is entirely possible to handle every step of your vehicle purchase right in one place, and Auto Credit Express can help. And it won't even matter what your credit looks like. We work with buyers with fair to poor credit every day, and we can work with your situation.
Just fill our fast and secure online application to get started today.
