Trading in or selling your vehicle in Elizabeth City? Make sure to know the steps before committing to this process.
Trading in or selling your car can be a scary proposition. First you have to make sure it is in tip top shape, then you have to drive to the dealer, haggle with a price that is fair for your vehicle, and then there is the actual selling of your vehicle. After that, what do you do? Use the money to buy a new vehicle, use the money for something else, or maybe you save the money for the future. Regardless of how you plan on using the money, you have to make the steps to trade in or sell your vehicle first. But are you making the right decision?
There are many ways to go about trading in or selling your vehicle, but the best way to do it is through your local Chevrolet dealership. We accept vehicles of all makes and models. If you are looking to trade/sell and don’t know where to start, Performance Chevy has your back. We have been a trusted dealer for many years and our sales department is here to help you. Our number one goal is to make sure you are satisfied. This is for buying or selling your vehicle. Our focus is on you, the customer. Let’s take a look at some things to remember about trading in or selling your vehicle.
Trade in or Sell my vehicle?
First, what is the difference between trading in your vehicle and selling your vehicle? Well, whichever one you choose, there are pros and cons to each. Let’s look at a few for each of these options.
If you are choosing to trade in your vehicle, you need to go to the dealership and you will be negotiating a fair price for your vehicle. Your first step should be to look at the Kelley Blue Book value of your car. Make sure to view the trade-in offer and not the private-party value. This will give you an idea of where your vehicle is valued. Keep in mind, this is just an estimate and should just give you an idea, you will not always receive this value. After that, make sure to clean your car and get any repairs done that need to be done. During this, be sure to look at new vehicles you would be interested in purchasing. Performance Chevrolet has an amazing line-up of new and used vehicles that you can use your trade in value towards. Our outstanding sales and finance teams will make sure to help you with that process.
Pros of the trade in:
- Less hassle: The process of transferring tags/titles, reregistering the vehicle, paying off the loan, etc. will be taken care of by the dealership.
- Reduced taxable sales price: Many states require that you only pay tax on the difference between your trade-in amount and the cost of the new car you are buying.
- Any offer from Carvana or Carmax – will match or beat!
Con of the trade in:
- Lower offer: Dealerships need to make money on the car you trade in when they resell the vehicle. That means that they will have to offer you less for your vehicle than what you could potelly earn. Keep in mind though, the dealer is going to be taking into account the work they need to do on their end in order to sell your vehicle. This includes items like vehicle repairs, transferring of tag/title, reregistering the vehicle, etc.
Selling your vehicle privately
If you choose to go this route, your payout has the potential to be bigger, but you are going to have to work for it. Again, when starting this process, make sure to look at Kelley Blue Book to find an estimated value. Make sure to look at the private-party value of your vehicle when doing this. After finding your value, make sure to take care of any issues the car may have. You are held responsible for any issues the car has when you sell it. Not disclosing this information can land you in major trouble. If you are able to find a buyer for your vehicle, make sure to complete all of the paperwork needed to transfer the vehicle to the new buyer.