Trading in your current car to purchase a new one is a
common practice at dealerships. Liberty Buick
GMC can help you determine the value
of your trade- in before you get on the lot. Or in 15
minutes, our estimator will inspect your vehicle and give you the trade-in
value.
You should know that the trade-in value for your car at a
dealership is going to be less than what a private buyer will pay for your car.
There are several factors to look at when deciding whether to trade-in your
car, truck or van or to try to sell it privately.
Why the Trade-In
Value is Less
When a typical dealer looks at a trade-in, they have to
consider many factors. Only the best of
the best of trade-ins are kept on the lot. Most trade-ins are sold at an auto auction. Dealers consider how much they can get at
auction. That price needs to cover what
they give you for your trade-in, plus a little bit of profit for taking the
risk of selling your car. The dealer doesn’t make any money on your trade-in if
it doesn’t sell. If the dealer decides
to keep your car on the lot, they will have to repair any damages and cover the
costs of cleaning, taxes, lot security and advertisement. Many states require dealerships to guarantee a
used car for a specific amount of time or mileage. With that said, the dealer needs to feel
confident in the condition of the vehicle. All of these costs factor into a lower
trade-in value than you will get selling it to an individual privately.
Hassle vs. Convenience
Selling your car to an individual takes time and effort. It requires advertising.
You can put For Sale sign in the car window, buy an ad in the newspaper
or list your vehicle on a website like Craigslist. Depending on the type of
vehicle, price and condition, your vehicle may take a while to sell. Plus, you need to make sure you have the
proper documents for the buyer at the time of the sale.
Trading in your vehicle with Liberty
GMC Buick is hassle-free. It’s a one
day transaction. You can sell it out right to us or trade it in and get a price
reduction on a new car. If you trade-in your car, you will also benefit from a
sales tax reduction. In most states, you
will only pay sale tax on the difference of the purchase price, minus the
trade-in value. For example, if you
purchase a new car at $40,000 and receive $10,000 discount for your trade-in,
you will save about $1,000 if the sales tax is 10 percent.
Best Price for your
Trade-In
Before you bring your car into the dealership for an
estimate, make sure you it looks great! Take
the time to clean your car inside and out. Or better yet, spend a little money
getting it detailed. This will show the dealership you have a well-kept
vehicle. Have all service records
available. Receipts or documents showing
the last oil change, tire purchase, and tune-ups will go a long way in getting
the best price for your trade-in. Fix
minor cosmetic problems if you can. But don’t worry about putting a lot of
money into your old car. A dealership can fix minor damage at a fraction of the
cost.
Thinking of trading in your car? Get a quick
estimate or come down to Liberty GMC
Buick for a quote. Liberty GMC Buick is located
in Matthews, NC. We serve the greater
Charlotte area, including Weddington, NC and Chester, SC.
