When the exciting time comes for you to purchase a new vehicle, you suddenly find yourself scouring the internet and car lots looking for just the right one. Cars colors seem brighter, all of the different models seem to stand out more, and everyone seems to have a new car on the road. You are officially programmed to find your perfect match. Whether you are on the lookout for just the right style for your life or you already have the car you want in mind, there is one big question that must be answered before you take that leap. What are you going to do with your present car? Assuming you have one now, you have to make a decision as to whether you want to sell it or trade it in to help with the cost of the new one.
Selling Your Car Privately
If you are interested in selling your car privately, there’s a good chance for positive results. With the ability to advertise on social media marketing sites, your reach is far greater than the “For Sale” sign in the window and newspaper classified ads of the past. You can usually expect an instant response to your advertisement as long as your price appropriately matches your product. Consulting Kelly Blue Book for a general guideline as to what your vehicle is worth is a great place to start.
Be careful, of course of scams as you go forward to online advertising. Leaning on the side of caution by not including personal information and meeting at a safe location to show your car are common sense tips to help protect you. The good news is, you have the potential to reach a lot of people in a short amount of time and the option to hold to your desired price.
Using Your Car As a Trade
While you may think that privately selling your car before arriving at the car lot gives you more money in your pocket, that’s not always the case. When you factor in the time and energy it takes to photograph your car and place the advertisement in all of the best locations, as well as meeting with prospective buyers who may or may not show up, the end result may not be worth the effort. The thought of simply driving your current car to the dealership, letting them use the credit toward your new purchase, and driving your new car home may be a lot easier. There are definitely ways that trading your car saves money when you consider
- Tax Credits
- The Mechanical Health of Your Car
- Time and Effort Involved In a Private Sale
- Liability Involved Following the Private Sale
Preparing Either Way
Whatever method you use to move from one vehicle to another, there are some common things you need to do to prepare for the exchange. First, make sure you have all the necessary paperwork for either path. Most important are the title and registration. Supplying the user’s manual is a great courtesy for the new owner. Understand and honestly pass on any mechanical issues or improvements you have made to the vehicle. Providing receipts of service and new parts really helps with the sale or trade.
Finally, take some time to detail your car. It may seem simple but like anything else, when something looks and smells nice, it’s more desirable. Besides, it’s a respectful thing to do to pass on something in its best condition to someone else.
So whatever method you choose to move forward to your new car, be sure you are prepared for the process that lies ahead. Consider both options and then take the path that works best for you.