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Should I Sell My Vehicle or Trade It In?

Should I Sell My Vehicle or Trade It In?

Should I Sell My Vehicle or Trade It In?

Most times, drivers are ready to purchase their next vehicle but are not sure what to do when it comes to their old vehicle. Nexcar Auto Sales & Leasing is here today to inform you that you have two options. You can decide to sell the vehicle or decide to trade it in. If you are wondering which would be a better choice for your situation, we have put this guide together to outline the advantages and disadvantages of both options.

Advantages of Selling Your Vehicle

Typically, drivers will decide to sell their vehicle in a private matter for the sake of value. Some drivers think that if they make a private sale, they will be able to make more money rather than taking the offer from the car dealership. In some cases, this can be true. Drivers trying to maximize their value will most likely select this route to sell their vehicle.

Disadvantages of Selling Your Vehicle

One of the most obvious disadvantages of selling a vehicle privately is the amount of work that has to go into this process. Often times this process can take more time than one expects. This is because you will have to gather all documents, keep the vehicle maintained, decide the car's price, and find a buyer. For many drivers, the stress and hassle that comes along with this option are not worth the additional money. 

And in the worst case, if you are unable to sell the vehicle, you are stuck with this vehicle sitting on your driveway not being used.

Advantages of Trading in Your Vehicle

When you decide to trade in your vehicle at the dealership, you will enjoy the benefits of this process being convenient and efficient. The dealership in this case will handle all of the paperwork and the driver doesn't have to do anything. Another benefit is that drivers can put the trade-in value they receive towards their next vehicle purchase. This is the perfect option for those who want to avoid the burden of extra work.

Disadvantages of Trading in Your Vehicle

Dealerships that make trade-in offers have to use some of their money to pay their hard-working employees. This essentially means that the driver can receive less value for the trade-in when compared to a private sale. However, this price difference is oftentimes less than drivers believe. Drivers who are unsure of what to do should contact the dealership they plan to get a trade-in with to get an estimated appraisal.

How We Can Help

If you are considering trading in your vehicle, it's time you contact our team at Nexcar Auto Sales & Leasing. We can help walk you through the process and get all of the details sorted out for you. Our team would be happy to get you an appraisal so that you can go on and purchase your next vehicle. Our financing team can also help to set you up with an affordable auto loan on your next car. To get your questions and inquiries answered, contact us at (416) 633-8188 today.

Categories: Car Buying Tips

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