To Trade or Not To Trade Your Vehicle in?

THE PRO'S & CON'S OF TRADING YOUR VEHICLE IN
Is it best to get a little less on a trade in or throw an advertisement in the paper and bring strangers to the house?

THE CON'S = More Money! >top
Obviously dealerships are in the business of making money. That is how they keep the lights on and pay for their lease and so forth. In most cases they will be quoting you less money on your trade than what you could probably sell it for yourself.

THE PRO'S = No Ads. No Strangers. Less Taxes. >top
The telephone calls and strange visits are sometimes enough to take a loss on your trade, and I am speaking from experience. Not to say every personally sold vehicle is a scary or rough transaction, but bringing strangers to your house and knowing that they will know where you live if or when mechanical troubles rise can keep you up at night. However, let's get back to savings! Ok so fewer taxes? That is right. If you are buying a $20,000 vehicle and receive $8,000 on your trade then you will only have to pay taxes on $12,000. What does that mean in dollars and cents? Let's say there is currently a 6.25% tax charge per purchase of a new or used vehicle in your area. The difference in tax between $20,000 and $12,000 will leave you with $500 in your pocket!

TRADE? >top
So when it comes down to Trade or not to Trade keep in mind that the quote that you get on your trade is just as important as the price that they are asking for your desired new or used vehicle. Be sure that you have a good understanding of what your vehicle is worth by looking at Kelley Blue Book or equivalent. Also, make sure that the dealer does not curse you with the Voodoo Mathematics and you will come out a happy new vehicle owner!

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