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TRADE-IN YOUR VEHICLE
In some rare cases it is a good idea to trade-in a vehicle. These include the following:
- Upsidedown on your payments
- Relatively new vehicle that holds it's value well
- When you can get as much or more for your trade than what you could if sold it yourself less the sales tax (e.g., if
you had a car that you could sell yourself for $10,000, it would make good sense to trade it if you could trade it for $9,400
($10,000 - $600 assuming a sales tax of 6%) or more.
SELL IT YOURSELF
This makes most sense when you can't get the asking price for your trade-in vehicle from the dealership you are dealing
with on a new vehicle, or when replacing your vehicle with a used vehicle.
WHAT IS IT WORTH?
There are at least a few different sites you should look at to get an idea of what your vehicle is worth. Try a few
like Kelly Blue Book or NADA or Edmunds and then take the average price.
Compare that price to the average price of a similar vehicle on a site like Auto Trader.
Depending on factors like the condition of your vehicle, demand for that model, and time of year, you should be able
to get a good estimate on what it is worth. Of course, the cheaper you're willing to take without getting less that what
you can for a trade, the quicker you're likely to sell your vehicle.
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