Sell vs. Trade

A lot of people always ASK, “Is it better to sell my vehicle on my own or trade it in?”. Yes, you can probably get more for your vehicle if you sell it on your own. However, lets compare the differences along with the PROS and CONS. Yes, there are CONS to both.

Sell on your own:

  • Be prepared to allow people to have your personal phone# and allow them to test drive your car. These both come with risks.
  • Are you available to show your car at different times including weekends and lunch hours?
  • Are you prepared to negotiate price (because they will always ask for less)?
  • You will need to list your vehicle on multiple sites (some have a cost involved) so people can see that it is for SALE.
  • Do you have the ability to park your car in a visible area with a FOR SALE sign and drive something else in the meantime?
  • Make sure your vehicle is visually and mechanically sound. Have it detailed and inspected. To get MAX value, fix any issues: Scratches, dings, stains, chips in paint and windshield, Tires,
  • brakes, lights on dash, etc.
  • Is your vehicle hard to get and desirable? or Is it abundantly available? This can affect time and value greatly.
  • Are you comfortable doing legal paperwork involving Bill of Sale and Title?
  • Do you own the vehicle or owe money on a loan? Having the title makes the process easier. If you have a loan, that must be paid off so the new person can get the title.
  • Will you accept a check from the individual or require cash?
  • If they prefer to get a loan, you must wait for that process to complete before you get the money for your vehicle.

Trade your vehicle in:

  • This normally means you will get slightly less than selling on your own
  • Dealership is responsible for reconditioning
  • You get instant value for your vehicle vs waiting for someone to buy it
  • You get a 3.75% trade tax credit on the vehicle you are purchasing (for ex: If your car is worth $20,000, you save $750 in taxes)
  • The process is faster and smoother when transferring the tag at the DMV.
  • You don’t have to deal with phone calls and test drives.
  • You don’t have to pay to advertise your vehicle
  • Convenience and time
  • Dealership handles all paperwork and title transfer

Click here to get a free no-commitment appraisal from Hoover Toyota https://www.hoovertoyota.com/value-your-trade/

See if it is worth your time and effort to sell on your own or trade it in.

You can call Hoover Toyota at 205-978-2600  to schedule an appointment or stop our store.

    “I want to buy your vehicle”

I want to buy you vehicle