Pros and cons of trading in your car
Trying to find a way to see the back of your disappointing vehicle once and for all? Good for you! Of course, you already know that there are a variety of great methods that you can utilise for selling your car. Some people place “for sale” somewhere on their cars, park on the curb side and hope for the best. There is the online option, finding a website to advertise on and again, hoping for the best. Then there is the trade-in option.
It isn’t a rare thing for someone to trade their vehicle in for a new one. It is among the most hassle free methods for kicking your vehicle to the curb, so to speak. But there are folk out there who steer clear of the trade-in option like the plague. They personally prefer to go the private sale route, mainly because they feel that they have more control over the whole process. But if they were to think about it, they would come to the conclusion that they may just be shooting themselves in the foot, choosing the most convoluted way instead of choosing the streamlined trading method. So, should you trade-in your vehicle? Let’s look at the pros and cons shall we? Yes, we shall.
Pros related to trading in your car
- The lone person you will talk to is the dealer
When going down the vehicle trade-in route, you can expect the dealer to be the only handler of the transaction. You don’t have to put in much effort at all. Just get yourself to the dealership, do some haggling with the deal, and you will be well along the track to purchasing a new ride.
- It’s a speedy and hassle free experience
When you go down the private sales route, expect to be spending a lot of time advertising, talking to people who want to buy your wheels, and completing paperwork. The whole process takes a week at the least, and can take months. Trading in only takes a mere couple of days.
- You won’t have to pay as much for your next car
Your new car will have the amount of the trade in of your old car deducted off the price of your new one. This is if you have no more payments on the car.
Cons related to trading in your car
- There is a chance that you will not get the full worth of your vehicle
While it is true that choosing the trade-in method will save you time and stress, there are a few trade-offs. One of them is the fact that you won’t get as much as you would if you sold privately.
- You have to buy from where you traded the car in
You can’t trade your car in at a dealership for a car from a different dealership. If you can’t find the vehicle that you desire at said dealership, the trade-in probably shouldn’t happen. This isn’t much of a “con” as you can easily just find a dealership that has the car you want and then trade-in there.