So, you’re ready for a new truck, SUV, or car? You have done your homework and decided just exactly what you want. There is only one snag, your current vehicle. You have a few options when deciding how to sell your old vehicle: sell it privately, send it to auction, or trade it in.
Selling it privately can be a hassle. You have to do all of the marketing and vetting buyers yourself. Also, you limit your pool of potential buyers to those who have ready money to buy a vehicle, which means it could sit in your driveway with that “for sale” sign on it for months.
Sending a vehicle to an auto auction seem tempting. You don’t have to market the vehicle and you can get it off of your hands quickly. However, you will only get the wholesale value of your car, which is way less than what you can get for selling it privately and still much less than what you can get for a trade-in.
Trading in your vehicle at the dealership you plan to buy from is a great middle-ground option. You get a bit more for your old vehicle, but you don’t have to hassle with selling it yourself. But how do you get the most money back on your trade?
Selling it privately can be a hassle. You have to do all of the marketing and vetting buyers yourself. Also, you limit your pool of potential buyers to those who have ready money to buy a vehicle, which means it could sit in your driveway with that “for sale” sign on it for months.
Sending a vehicle to an auto auction seem tempting. You don’t have to market the vehicle and you can get it off of your hands quickly. However, you will only get the wholesale value of your car, which is way less than what you can get for selling it privately and still much less than what you can get for a trade-in.
Trading in your vehicle at the dealership you plan to buy from is a great middle-ground option. You get a bit more for your old vehicle, but you don’t have to hassle with selling it yourself. But how do you get the most money back on your trade?