how long does the process take? are you better off selling it at auction? do they cut you a check for the difference?
2007-06-01 06:11:42 · 7 answers · asked by justsomedumbgirl 3 in Cars & Transportation ➔ Buying & Selling
There's no way you'll get maximum value by trading your old truck in. The dealer is in business to make money and they do that by paying minimum for trade ins and selling them for max value. Don't get caught on the short end of this deal. Sell or auction yourself and pocket the difference. I don't recommend paying cash for a vehicle because remember, they lose value the entire time you own them, and up to 25% of what you pay almost immediately. Be smart with your money!
2007-06-01 09:38:01 · answer #1 · answered by Whitty 3 · 0⤊ 0⤋
Honestly, if the vehicle is very valuable, you are better off doing a private sale on it. If you bring it to auction or trade it at a dealer, you will get wholesale cost for it, not retail. Then go purchase a new car at a dealer with the cash. You could get as much as 20-40% more doing it this way.
2007-06-01 06:15:31 · answer #2 · answered by Jay P 7 · 0⤊ 0⤋
It depends. Say you owe money for a loan. Then its what your truck is worth minus the balance of the loan and then the cost of the new truck.
If you owe no money on it and you're just getting the new truck then its what your truck is worth minus the new truck and you are entitlted to the difference, but you have to keep in mind the difference between trade in value and resale value can be astronomical. Your best bet is to see what they will give you for it and if its satsifactory number tell them you will surrender then title to the truck when you get your check. Make them sign something that says you'll be getting this check.
If they give you crappy numbers check out selling it. Put a deposit on whatever you want and tell them you want to shop around to see if you can get more for your truck.
2007-06-01 06:18:10 · answer #3 · answered by Ashley 3 · 0⤊ 0⤋
Trade in. Don't. You will get screwed. Most definitely sell it yourself. Clean it up. Fix the simple things then list it on your Craigslist with a few great photos and simple description.
Best to shop with cash when purchasing. I found my new truck on Craigslist and got it for thousands less than a dealer price because I was 'not in a hurry' and I had cash. Cash talks and saves you lots. When you find a deal, you will beat out the other guy who has to borrow the money.
2007-06-01 06:17:09 · answer #4 · answered by Mike R 4 · 0⤊ 0⤋
Sell your current truck yourself and then pay cash for the new one.
2007-06-01 06:17:27 · answer #5 · answered by bevrossg 6 · 0⤊ 0⤋
You will get a check for the difference
2007-06-01 06:14:20 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if it is truely worth more the dealer will cut you a check for the difference.
2007-06-01 06:16:24 · answer #7 · answered by ron k 1 · 0⤊ 0⤋