Is it time to finally get rid of your old car? If so, there are a number of ways in which you can make it happen.
For example, you can sell your car privately or to a junk car buyer. You also have the option of trading your car to a dealership.
This leaves us with one question. Is it better to trade in or sell a car?
We’re here to help you find the answer. Keep reading for everything you need to know about how to get rid of your unwanted vehicle.
Identify Your Goals
When answering the question, “Is it better to trade in or sell a car?” you must consider your overall objective. For example, if you have an old car that’s been sitting on your property for a while, you might just want it gone.
In this case, it’s probably better to sell a car than to trade it in. In fact, depending on the age, mileage, and condition of your vehicle, you might have a hard time finding a dealer who will accept it as a trade-in.
Conversely, if you’re goal is to buy a new car and the vehicle you’re selling is your current daily driver, trading it in may be the better choice. When you trade in a car, the car value will act as your down payment.
The trade-in can reduce your costs by hundreds, if not thousands of dollars. This allows you to take out a smaller loan. You’ll also gain access to better interest rates and lower monthly payments.
Evaluate Your Situation
Now, let’s look at the question, “Is it better to trade in or sell a car if it’s in rough shape?”
As noted above, many dealerships won’t accept a trade-in if your car’s value is too low. This includes vehicles that:
- Are too old
- Have too many miles
- Need too much work
- Have too much damage
If you’re trying to get rid of a vehicle that doesn’t run, you’ll have a hard time getting it to a dealership (even if they would accept it). In this case, it’s more practical to sell your car for car parts or to a cash buyer. Junk car buyers will even come to your location to finalize their offer and tow your vehicle away.
If you want to get a higher sale value from a cash buyer, check out bidlane.com to get an immediate offer for your car. They are a smaller company with lower overhead costs. This means they’re in a position to give you the most for your vehicle.
Is It Better to Trade In or Sell a Car?
If you’re still wondering, “Is it better to trade in or sell a car?” only you can provide the answer. We hope this article helps guide you to the right decision. Think about your needs and your circumstances.
And if you’re looking for more lifestyle tips, money hacks, or consumer insight, don’t go anywhere. Our blog was created to help people like you maximize their potential, make good choices, and live their best lives.