Trading in your car vs. selling it yourself?
October 5, 2021
Chances are, you and your car have shared some special moments over the years – but there comes a time in every car owner’s life that you must go your separate ways. When you do find it’s time to move on from your reliable friend, you have two options: Sell your vehicle yourself, or trade it into a dealership.
I think we all know that selling a car privately is no walk in the park. Sure, you may be able to sell it for a good price – but at what cost? Let’s just say, it could be bucket loads of time and patience!
You may be surprised to know that there are many benefits to trading in your car with a dealer. Here are our Top 5 reasons why trading your vehicle in could be better than selling it privately.
- It’s a hassle-free process
Selling your vehicle privately requires considerable effort, including placing ads, fielding phone calls, and being available to meet with potential buyers for test drives. When you trade in your car, you simply hand it over to the dealership: No need to haggle with potential buyers or deal with frustrating no-shows.
- You can use the trade-in amount as down payment on a new car
When trading in your vehicle with a dealer, you receive its value immediately as part of the transaction. This can be super handy if you’ve already spotted your new car on the lot: Secure it on the spot with this down payment!
With a private sale, it’s likely you can’t sell your current car until you’ve bought a new one, so you wouldn’t be able to use this money as a down payment. Also, be prepared to wait a little longer as it can take 4-6 weeks to find a private buyer.
- You avoid the added costs of getting your old car ready for resale
Whilst you could potentially make more money on the transaction selling your vehicle privately, this doesn’t take into account extra costs to get it ready for sale. You’ll likely need to invest money into fixing any mechanical issues, getting it professionally cleaned inside and out, and detailed, whereas, with a trade-in, the dealer will take on any repairs or other needs. In fact, you don’t even need to worry about a roadworthy certificate – we’ll sort it for you!
- There’s a tax advantage
In Queensland (and most other Australian states) you are only charged sales tax on the difference between the trade-in value and the new car price. Winning!
- You have the opportunity to negotiate the price of your trade-in
Ultimately, a dealer wants you to have a positive experience so we’re always willing to work with you for an outcome that’s fair for all.
Still got questions about how we might be able to assist with trading in your vehicle? Drop in or phone our friendly sales team today.