Sell It or Trade It?
You've decided that your old car has to go. So what are you going to do with it? You could donate it to charity, trade it in toward the purchase of a new vehicle or sell it yourself for more money than the dealer will give you.
More on Selling a Used Car
Avoid overpricing by doing some initial research. Read more
A well-written ad will draw buyers' attention and can help sell the car quickly. Read more
It's possible to sell a car even if you still have an outstanding loan balance on the vehicle. Read more
It may seem odd to hand your keys to a stranger, but the process should run smoothly if you follow these tips. Read more
Whether you're dealing with a buyer in person, via email or over the telephone, always be careful when accepting payment. Read more
You've almost sealed the deal, but remember these last few points before you sell. Read more
Check out these additional resources if you're selling your vehicle. Read more
Evaluating your personal circumstances and the kind of person you are is critical as you decide between selling a vehicle yourself or trading it in.
Ask yourself these questions before you decide to sell the car yourself. How quickly do you need to get rid of your old wheels? Do you need the cash from your old vehicle to buy a new one? Are you patient? Do you have the time and inclination to take phone calls from an advertisement, talk to strangers about the car and meet with them to take a look at it? Are you a good negotiator? Do you mind paperwork? Are you handy at doing minor automotive repairs?
If you need cash for the new purchase quickly, your time is far too valuable to deal with phone calls and test drives, or you lack confidence in your ability to negotiate with a buyer, then trading in your vehicle might be the best plan for you.
On the other hand, if you're not in a rush to sell your old car, you have the patience for phone inquiries and test drives, you can do some minor repairs and you think you're a pretty shrewd negotiator, then selling it on your own might be worth the financial gains. If you sell the vehicle yourself, you also could avoid an upside-down buying situation, where you owe more on your car than it's worth as a trade-in.