While it may seem like a seamless, transparent process to trade in a car, the reality is far from this myth, especially when working with a dealership. The more you know, the easier it will be to navigate the process and determine potential alternatives to trading in a car, like selling your car for cash. Luckily, we’ve got all the information you need.
The Benefits of Trading in a Car
Many times, when individuals want to rid themselves of a vehicle quickly in order to buy an upgraded model, trading it in seems to be the fastest option. It’s often a pretty quick process and you don’t have to deal with the paperwork involved in selling a used car to a private party. All you have to do is head to a car dealership, negotiate a price and hand over the keys after signing away what seems to be your life. However, the benefits may not always outweigh the negative aspects of trading in a car. Stay tuned for more information on alternatives; it may be beneficial to learn how to sell a car privately.
The Process of Trading in a Car
Trading in a car can be a quick and easy solution if the process is straightforward. First, a professional from the car dealership will test drive your vehicle and assess its condition. Next, a sales professional will present a dollar amount that the dealership is willing to give you. In many cases, dealerships will not give you top dollar. Why? Often times, the dealership will either sell your used car to a wholesale auction or seek to sell it on their own lot for more than what they are paying you.
The next step in trading in a car happens after you agree to the dollar amount the dealership has quoted you for your used car for sale. Once that happens, they will begin to draw up the paperwork. The paperwork to trade in a car varies by state guidelines and laws, but for the most part, you can expect to sign documents that will be filed with the Department of Motor Vehicles and a Bill of Sale. Official documents detailing sales tax will also be provided to you.
If you are purchasing a vehicle, the process of trading in a car gets even more complex. For instance, many car dealerships lump the sums together when processing paperwork for financing, trade-in allowances and sales tax. While it may seem convenient at the time, typically some additional fees you would not normally pay when selling your car outright are added to your financing or leasing terms.
Preparing to Trade in a Car
Now that you know the process, it’s important that you are prepared. Before even thinking about heading to a dealership to trade in a used car, do the following:
Why Choose Don’t Trade It In
One of the best alternatives to trading in a used car is to NOT trade it in. Instead, consider the benefits of working with Don’t Trade It in to get cash for your car. We are a nationwide, premier car-buying firm that prides itself on providing consumers with fair values for their used cars for sale. Whether you have a used truck for sale, a used Jeep for sale or a used minivan for sale, simply log onto our website, upload photos and vehicle information on our online form and our team will promptly get back to you with a fair-value offer for your used car for sale. While it may be tempting to head to the car dealership to trade in a used car, the cons of this process often outweigh the pros. You have plenty of options beyond trading in a car at your local car dealership. Let Don’t Trade It In indulge you with a fair value for your used car for sale that allows you to upgrade to a premium model, pay off some bills or take that vacation you’ve been wanting to take.