Trading Up vs Selling a Car
Everyday hundreds of cars are traded or sold second hand in Florida alone, but what is the better option for you? We at carsforcashstore.com are here to give you the pros and cons of trading your car or selling it so that you can make an educated decision as to which one is best for you.
Pros of Selling Your Car
When you sell your car, either in a private sale or to a dealer such as carsforcashstore.com, you will most likely get a lot more money than if you simply traded it in. This means that you will have more cash in your pocket to use for whatever you want – putting it in as a down payment and reducing your loan costs, using it to buy a better car than you could if you traded it in, having more added extras in your new car, or whatever else you want! Since you will have this extra value as cash in your hand, you are not tied down to spending it at any particular place or on any particular thing.
Another great thing about selling your car is that you have a choice of methods to use – you can sell it online through sites like eBay, to a private seller, or to a dealer like carsforcashstore.com. This means that you can get the best possible price on the market.
Cons of Selling Your Car
Sometimes selling your car may take up a lot more of your time than if you had to simply trade it in. This could either be because you don’t have access to the market or because you might need to spend some time at your DMV to get the required documents, fill them in and submit them. However, if you decide to sell your car through Cars For Cash Store you don’t need to worry about wasting time, it is as simple as filling out an online form with some details about your car – no need to worry about waiting for buyers to contact you.
Pros of Trading In
Trading in your car is sometimes seen as the easiest option – there is a smooth transition from your old car to your new car. There are also fewer tax implications as the taxes are calculated on your new car minus the trade-in value of your old car.
Cons of Trading Up
The biggest disadvantage when trading in your car for a newer or better car is that the trade in value is often a lot lower than if you had to sell it yourself as well as the fact that trade in values are not set in stone. Many people think that the trade in value that Kelley Blue Book provides is a definitive value, however, dealers will often value your car for a lot less than KBB. You will also get a lot less in a trade in than through selling your car if it is an old car with a lot of mileage or a vintage/specialty car as dealers don’t have much use for these.
Trading in your car also means that you limit your options – you can only trade your car in for what the dealer has in stock. This means that you can’t always get exactly what you want and will have to settle for something that you may not be happy with a few weeks or months down the line.