Should I Sell My Car or Trade It?

The decision to Sell or Trade is faced by almost everyone in the Market for a new (or used) vehicle.... that already has a car, of course. Truth of the matter is, there are pros and cons to what to do with your trade. The one thing we hear almost every time we do a trade appraisal is "we can sell it ourselves for more than that". We realize this, but what most consumers don't realize is that what ever we decide to do with your trade (retail it or wholesale it) costs us a whole bunch of time and money, but that's a different topic we'll get in to some other time.

We're going to make this simple and just list the pros and cons of Trading and Selling your car.

Cons of Selling Privately:

- You lose the Tax Break on the car you're buying

- The amount of phone calls and emails to answer can be overwhelming, before you find an actual buyer

- You will constantly have to change your schedule to meet with people that want to see and test drive your car, before you find a buyer

- With all the scams going on out there, you can easily get burned by a buyer (unless they pay you in cash)

- If you do not hold the Title to your car, it can be very difficult to find a buyer

Pros of Selling Privately:

- You'll get more money for your trade

Cons of Trading in Your Car:

- You'll get less than Selling it Privately

Pros of Trading in Your Car:

- You will pay sale tax on the difference of the selling price of the car you are purchasing and the trade allowance

- Hand over the keys and you're done with it

That's it in a nut shell. You just have to weigh out the differences. Although you will get less on trade, the time   and money it saves you can be well worth it.

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