Trade In My Car or Sell It Myself…Which is Better?

Just like you, I am a consumer when I leave work.  When I am looking to purchase a product or service (any product or service…even a pack of gum), my friends, family, friends of friends, or even complete strangers will give me their advice on what is best for me.  Every person has a different set of needs and circumstances.  For some of us, we have the confidence, skill set, and patience to sell a car in the paper, on craigslist, or on the Internet.  Some of us either don’t want the hassle or we just aren’t confident to sell a car our self.  For example, I have helped thousands of families with a vehicle, but I wouldn’t know the first thing about selling my house.  I would leave that to the experts…a realtor.

The first thing to understand is that all dealerships are going to offer you wholesale (for a car they don’t plan on keeping) or trade-in value (for a car they will resell).

For many dealerships, wholesale is another profit center for the dealership.  Meaning they can give you $x and sell it wholesale or at auction for $y.  The Super Car Guys use this opportunity to Help People above and beyond any normal car guy.  We will never appraise a wholesale car (that we don’t plan on keeping) for a profit.  We believe the extra money we put into your trade, will be the difference between a Normal Car Purchase and a Super Car Purchase!

If you vehicle is a trade the dealer plans on keeping, the dealer will typically give you trade in value and sell that car for retail value.  That is how we pay our employees, pay the utilities, support our community, pay any reconditioning costs, clean-up fees, provide a warranty, etc.  Every dealership has a different set of guidelines they use to value a trade-in they plan on keeping.  The Super Car Guys research the book values (both KBB and NADA), research the Internet, call several buyers, ask the Magic 8 Ball, check Ebay, check craigslist, basically, gather all the information we can about your trade in.  We will give you all the information we have and the most aggressive value for your vehicle, then let you decide if it makes sense to trade your vehicle.  If it doesn’t make sense, then don’t trade your vehicle.  Maybe it makes more sense to sell the car yourself.

When is the right time to sell my vehicle instead of trading it?

• If your vehicle has an outstanding balance (loan) that is too high to uncover by trading.
• If you don’t like our trade in value.
• Need more money out of your trade to accomplish a certain price or payment.

Where is the right place to sell my trade in?

• The classifieds in the local paper.
• Craigslist.
• Ebay.
• Auto Trader.
• Cars.com.
• A sign in the window.
• Park it on a street corner or busy intersection with a sign.

Several drawbacks to selling your own car is the time, the expense, the inconvenience, uncertainty, people coming to your house, people driving your car, getting paid, etc.  Many people don’t factor in the amount of effort it takes to sell a car. 

• The classifieds in the paper can be very expensive.   What days are the best to run the ad?
• Craigslist is free, but you never know what your are getting yourself in to.  Spammers use craigslist to gather email addresses, phone numbers, etc.  It’s easy to get lost in the volume of listings on craigslist.  There are tons of scammers using craigslist everyday to take advantage of someone.
• Ebay is expensive and inconsistent.  Sometimes it works and other times it doesn’t.  It takes a long time to craft a well written description and post photos of your car.
• Auto Trader and Cars.com are huge national online classifieds.  Your ad can be expensive to place, hard for buyers to find, and time consuming to post.  If your description is worded wrong, your car may never show up in searches.
• Thieves find a car with a “For Sale” sign parked on a corner or an intersection an easy target…they know you aren’t around.
• Signs in the window are hard to read and they aren’t very effective.

The biggest drawback to selling your car yourself is the risk you take.  Most people don’t realize the amount of risk they take with something as simple as selling a car. 

• Bringing people to your house could be exposing your home and family to potential thieves.
• People you don’t know are driving your car on your insurance.  What if they steal your car?  Or worse…What if they wreck your car and injure themselves or someone else?
• Meeting at a neutral place is the best policy, but inconvenient.
• Getting payment can be tricky…checks may bounce or be forged.  Even “cashier checks” can be fake.  The most popular online scam is…”the bank made the check for too much.  Can you just give me change?”
• Someone may damage your car while driving it.
• Negotiating can be tricky and intimidating if you don’t do it regularly.

Learn about the most common scams and how to protect yourself.

What is the right car to sell?

• Inexpensive vehicles that are mechanically sound.  Usually between $2000 and $5000.
• Hard to find or specialty vehicles.
• Inexpensive imports…usually under $10,000.

What are the benefits to trading my car?

• It’s easier and saves you a bunch of time.
• The dealer takes all the risk to sell your car.
• You save sales tax on the purchase of your new car (in Kansas).  Since we only pay sales tax on the trade difference, the lower the difference, the lower the sales tax.
• Better financing rates and terms.
• Better “deal” on the vehicle you are buying.  The best dealerships know, if there is a trade in, they can sell their car for less.  If we know we can sell your car for a profit, we don’t have to pay someone to replace the car you bought.  We can earn a profit by helping another family with your old car.

Remember, the choice to trade your vehicle or sell it yourself is always yours.  The Super Car Guys are here to give you a better buying experience than the Normal Car Guys.