If you think that it is time to have a new car, you should start planning. The good news is that you have several options to get rid of your current vehicle. You can start by putting out a “for sale” sign in the window of your car and hope that many are interested. Alternatively, you can also enlist the car in automotive classifieds or even on Craigslist. This way, you wait for calls and emails from potential buyers but they will guarantee to haggle the price.
You can also weed out personally potential buyers instead of bargaining with a dealer. However, this is less efficient. The easiest option here is to consider trade-ins. Here’s why you should trade cars:
The dealer handles the entire transaction
If you consider trade-ins, you are letting the dealer handle the entire transaction from the onset to finish. All you need to do is show up, negotiate and then wait for it the transaction to conclude – voila you are close to buying a new car. There are many cars for sale in chicago and allowing the dealer transact will make things easier for you.
Trade-ins are fast and convenient
Without a doubt, trade-ins are fast and convenient when compared to private party sales. Private party sales take effort and time. You start with advertising the car and meeting with potential buyers then transferring the ownership. It can even take several weeks to months to find a buyer. If you trade-in, you can get rid of the old car in two to three days.
It reduces the price of the new car
If you consider trade-in, you are reducing the price of the new car. For example, if you purchase a car for $30,000 and the dealership gives you $7,000 for trade-in, you only need to secure $$23,000.
How is trading done?
If you decide that trading is the best option, you have to learn how to get the most money out of that transaction. The first thing that you need to do is to know the value of the car. Keep in mind that dealers always want to pay the least amount. For this, many attempts to low-ball the consumer with a price that is below the value of the trade in.
You can make an informed decision if you have an idea about the car’s worth. It is prudent to do your own research before you go to the dealer. After the car’s value, the next thing to do is to fix up the car. Remember that any cosmetic damage can lower the net value of the car. In turn, it will result in a low trade-in value. It will not hurt to clean the interior and exterior of the car before speaking to the dealership. If you have spare, you can consider a new paint job.
Finally, before making your decision, you have to visit multiple dealerships. While you are at it, you should request an estimate to learn the value of the trade-in. It will be to your advantage if you keep copies of the quotes and use the information when bargaining in the future.