Are you trying to get rid of your car, but don’t know whether to trade it in to a dealership or sell it yourself? Fret no more! A lot of people are asking this same question, so we wanted to help you out. Continue reading below to learn the benefits of trading your car into a dealership like Auto Center Of Texas vs. trying to sell it yourself.
Benefits of Trading Your Car In
If you’re trying to get rid of your car quickly for a decent price, trading it in is the way to go! Unlike when you sell it to a private party, you don’t have to clean it, handle the paperwork, or do anything like that! The dealership handles it all, hassle free.
By decent price, we mean that you will probably receive the vehicle’s wholesale value. However, you can use choose to pocket this money or use it as a down payment on another car. If you’re still paying money on your car, most dealerships will also buy you out if you’re going to purchase a new car with them. This will put you right side up and you won’t lose any money!
If you trade in your car, you can also receive a tax advantage! Most states only charge the sales tax on the difference between the trade-in value and new car price. This could end up saving you a couple hundred dollars.
Disadvantages of Selling Your Car Privately
In comparison to trading your car in, selling your car privately is a lot more work! You have to get the attention of buyers through advertisements, take countless phone calls, deal with questionable strangers and allow test drives- which is a pretty risky factor alone.
After all this is done, you still won’t make a significant amount more than if you traded in your car. In fact, you may not even get more at all! On top of that, you also won’t receive the tax advantage and you may be upside down if you get less for your car than what it’s worth. Especially if you still have some money due on it.
In summary, trading in your car is the faster, safer, and more reliable option compared to selling your car privately. Here at Auto Center of Texas, we welcome trade-ins at all of our three locations (Dallas, Kaufman, Terrell). To learn more, click here to visit our website.