Would it be better to trade in my car or sell it myself?

Question

I've decided to buy a new car within the next couple of months, and I need some advice on trading in my current vehicle. My current car is 9 years old and has 150,000 miles on it. According to the Kelley Blue Book, that make and model - with its current mileage and condition - is worth around $2000. (yes - it's time for an upgrade!) What are the chances that a dealership would make a trade-in offer that is close to the Blue Book value? If i'm not likely to get a decent trade-in offer, what is the most hassle-free way to sell the car myself?
Oh - I bought the car used 6 years ago and paid it off 5 years ago, so i don't owe anything on it.

Thanks!

Answer 1

Understanding how the process works is the key...a dealer got no interest in a vehicle 9 years old and wish they didn't have to deal with it in the first place...from reading your question without going into detail your vehicle is worth $ 500. on a wholesale level.

If a dealer offers you $ 2000. then the $ 1500. you think your getting is build into the deal...go to this webpage on my website http://www.usedcartips.org/TRDE.html it will give you a better understanding how trades work, from there navigate the 10 steps how to buy a car...good luck

Answer 2

I just bought a new truck a couple of weeks ago and I was in the same spot as you (except for the 9 yr old car) I owed 11000 on my truck and on paper they gave me 15000 for it, it blue booked for around 12000. I know the dealerships have their own way to fill out the paperwork but I feel like I got a good price on my trade in. Alot of the times they tell you one price but the figures never match up. Well the figures matched up on my transaction and the new truck had roughly 4000 put towards the balance. So the safest thing would be to talk with the dealership and find out where they sit on the price, if you dont like it then sell out right. THE MAIN THING TO DO WHILE SEARCHING FOR A NEW VEHICLE IS TO EXPLORE ALL OPTIONS. You can never do to much homework.

Answer 3

You have a 100% chance that the dealer will NOT give you book value for your bomb..err, car. Dealers live a life of smoke and mirrors and will simply up the cost of the replacement car to cover anything they will offer you on trade. They are a vile and loathesome race of scum and do NOT believe anything they say. Sell the car yourself for a fair price to someone who could probably really use it then (I beg you) consider buying a very clean, well maintained used car. The second you sign the dotted line on a new vehicle you automatically lose 20%. One year later, another 15% and another 15% the year after that. Buying a four year old vehicle will eleminate the bulk of depreciation and the thousands and thousands of dollars you SAVE could go towards the unlikely breakdown that may occur (thus, blowing the 'new car warranty' myth away).

Answer 4

The Blue book will list a higher value for your car if sold by a dealer, so sell it yourself...you'll be better off financially IF you get a great deal on a new car.

Answer 5

Don't trade it in, you won't get anything for it. The paperwork might sound good,but the reality of it is,they likely are going to sell it at auction. Why not keep the car for backup,otherwise,sell in the local paper,you'll get a fair market value that way.

Answer 6

you should attempt to get the dealer to accept the car as a trade and give you a good price. some times thats fine with them becase they have such deals going on .
if you buy a big 3 car now you most likely will get the best deal .
if they wont give you what you want try a couple others then sell it on your own.
buy a car not big suv and try to get one that is great on gas .

Answer 7

Keep the car, in case you or some relative needs it. If you have the space, it will be good.
Probably they will try to give you 500 bucks or less for it as a trade in. I would prefer to donate it to a church or charity that give it away to a dealer for nothing.

Answer 8

youll never get anything near the cars worth by trading it in. If you trade it in and the dealer gives u $1000 for it, I guarantee you can drive by the same lot 2 weeks later and see your old car up fpr sale for $2500.

sell it

Answer 9

What make of car? Anyway trade it in you'll get 500 dollars. You won't get close to 2000 selling get.

Answer 10

Dealerships rip you off, you'd get more money selling privately.

The dealership will probably offer you half of what it's worth.