August 16, 2014
Jason Heard, general manager at Frank Ancona Honda in Olathe, recently weighed in on a popular debate among consumers about whether selling your car privately or to a dealership allows you to get the best trade in value. Here is what he had to say.
1. The cost: Will you need to spend money advertising it? Will you be spending money getting it ready to sell? i.e. detailing or servicing. Trading-in may also offer a tax advantage if you are buying a vehicle at the same time.
2. The time investment: When will people call or want to look at the car? Will your
workday be interrupted with calls from potential buyers? Will your evenings
be taken up with folks wanting to look at the car? How many dealer opinions will you want?
3. Safety: Do you want people knowing your number or your address? Coming to
According to MSN Auto, trading in is all about convenience. With a dealership there are no advertisements to place, no test drives to arrange, and no legal battles to fight if your recently-sold car breaks down. Your local car dealership will also take your car and then work to get it in like new condition and retail it for a profit.
Heard added, “If you have a nice car, you may be surprised at how much you will be given. If you sell on your own, buyers may not be willing to put the extra work in, which may result in a lower offer.”
Either route you choose make sure that you check the market, do your research and have a realistic view of your car and its value to help you make the best decision. US News suggests researching with a third-party website like KelleyBlueBook.com to get a rough estimate of how much your car is worth. Plug in as many details as possible, such as a built-in navigation system, CD player, leather upholstery and other features, since they could increase the value of your vehicle.