WomenWithWheels.com

Trade It or Sell It Myself?
Which Way to Go When Unloading Old Betsy

As summer approaches and next year’s car models are beginning to make the scene, we feel the temptation to trade in the old buggy for something new and shiny.

I’m often asked when is the "best" time to trade a car. Is it better to sell my own car or just trade it? How do I know what my car’s "asking price" should be, and will all dealers offer me the same amount for my trade-in?

Whether or not you decide to trade your vehicle every few years or hold on to it and run it into the ground is a matter of personal preference. And how much of a car buff you are. The thinking has changed over the last decade as more and more pre-driven vehicles come on the market presenting the option to get into a nicer vehicle for less money.

According to experts, there probably is no "best" time to trade a car. Depending upon your situation, consider the following: Does your car run well? Do you still enjoy driving it, and can you afford a new one. Operational costs are an important factor to consider, particularly with the price of gasoline these days. Or, if you’re making more and more repairs to old Betsy, which is what generally happens around the fourth year of ownership, you might want to think about a new vehicle.

Generally, you get more for your car if you sell it yourself. But be prepared to be "on call" for potential buyers, and have all your paperwork in order. Trade-ins normally yield less money, but also present fewer hassles for you. Be sure you make up a Bill of Sale. Samples can be found on the Web.

Today there are many web sites available that provide pricing information for automobiles. Sites such as www.KelleyBlueBook.com, www.Edmunds.com, www.Cars.com and www.NADA.com are all good sources that offer wholesale and retail pricing. The wholesale price is what a dealer will offer for your car; the retail price is what you can expect to pay for a car. Also consult your local newspaper’s classified section to find out what others are asking for similar vehicles.

It’s not a bad idea to shop dealerships when wanting to trade a vehicle. It’s possible a dealer selling the same make of car you’re trying to trade would be more interested. If you’re buying new and trading the old, be alert to trade-in offers and focus on the difference between the trade-in and the new car.

Of course, getting your vehicle in shape-washing and waxing–is always a good idea. The better it looks, the more you’re likely to be paid. This is truer when you’re selling the car yourself. Dealers often wholesale a vehicle, so the condition it’s in isn’t always so important. Some vehicles sell better in certain areas than others. For instance, trying to unload a BMW Z4 in Enid, Oklahoma isn’t near as easy as finding an interested dealer or private party in a large metropolitan area.

Whatever you decide to do, give yourself time to do your homework. You’ll be glad you did.