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Read moreThree reasons why it is beneficial to trade in your vehicle as opposed to selling it yourself
We know what you are thinking. There is absolutely no advantage to trading in your vehicle as opposed to selling it yourself and we are of course biased when it comes to suggesting that you trade in your current vehicle when replacing it.
Well, hear us out. We can confirm that the value of your trade-in is less than the market value. If your vehicle is worth $20,000 on the market, you might only get $15,000 or $17,000. You are therefore leaving some money on the table but that is not the only thing you want to consider. And sometimes, the numbers game isn’t always what it seems.
For example, did you know that when you trade in your vehicle and apply the money you receive to your next vehicle, the amount is calculated before taxes? Now if you sell your vehicle and apply the money to your next purchase, it becomes a deposit which is applied after taxes are calculated. So to truly calculate the difference between your trade-in value and the market value of your vehicle, you have to add taxes to the trade-in value.
There might still be a difference between the two but it narrows. Then, when you consider the time you saved by trading in your vehicle, the difference might be worth it. You save time by not having to meet with potential buyers, you don't have to advertise the vehicle, you don't have to take phone calls in the evening or during weekends, and you don't have to negotiate with people you do not know. You also speed up the buying process because all you have to do is go to the dealership with the vehicle you are trading in, and hand over the keys to your sales representative, sign the paperwork, and leave with your next vehicle.
In other words, trading in your vehicle saves a lot of time. And, with the current state of the market, you might get a very good deal on your trade in. Give us a call today to learn more.
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