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Should I Trade In My Old Car Or Sell It Privately? | Ram Credit

Trade In or Sell privately?

Sooner or later, you will be in the market for a new car. When this happens, you will need to make a decision about what to do with your current car. You have two options; trading in for a new model or selling privately. You want to choose the best option that gives you the most value for your car.  With pros and cons for either side we have outlined the two options for you.

Sell Privately

Many people believe that they will get more value for their car if they sell it privately. This can be true in some cases. However, the value you get is dependent on the buyer who will determine how much money you get. Buyers can include strangers, friends and family, and car dealers. It is suggested that you can get the best value for your car by selling to a friend. Find out the what the car is selling for and set your price. Strangers will always try to negotiate a lower price. Just be prepared that to get rid of your car, you may have sell it for less.

Trading It In

If you choose to trade in your car, here are some things you should know. When you take your car to a dealer, they will appraise it, check its condition and give you a wholesale price. A wholesale price is what a buyer would pay for your car at a dealer auction. Trading in a car to dealership can take the stress and hassle out selling your car privately. The trade-off being dealers are not likely to give you the retail value for your car.

The Verdict

Whether you are selling privately or trading in,  focus on the money coming out of your pocket instead of the amount you are getting for a trade in. Weigh all of your options and make the decision that is right for you. Should you choose to trade in, come to Sherwood Dodge and let us help you find the perfect vehicle by trading in your current model.

Financing Team

Sherwood Dodge

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