How to Sell Your Car to a Dealership

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The truth about selling your car is that you will never make back the money you spent on it. That is why buying your car outright is the best option in the first place – it will always be the cheapest option. Unlike homes, which increase in value, cars depreciate over time; from the moment you take it off the lot. Whenever you are looking into buying a new car, you need to get rid of the old one. Or perhaps you are moving away, or perhaps you simply don’t use your car anymore.

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Here’s everything you need to know about selling your car to a dealership:

  1. Know the Value of Your Car

Everything, from the model to the year, to the mileage, to even the color of your car can affect how much your car is worth. Red cars don’t last under the heat of the sun.

  1. Trade-In

Trading in is a great way to get a discount on your new car. Trading in your used car for a new car is a wonderful way to pay a large portion off your new car, meaning that you won’t end up in the trap of paying over 20% of that car’s value in interest (yikes). For instance, you can sell your old Lexus and get a new one at a “discounted” price at Lexus Edinburgh.

  1. Consider Keeping It

If the car you have is old, has a lot of repairs to be done, and generally looks like it’s on its last legs, there are only a few things you can do with it. You can continue to use it until it breaks down, you can sell it for parts, or you can scrap it completely.

  1. If Your Car is a Classic

If your car is a classic, your best bet is to sell it at an auction. Several factors will determine how much money you can get back from selling your classic car. These include things like the production model, which year it was produced, or even if it still has the original paint job. You won’t be able to necessarily research for how much your classic car is valued on the market because there are so many factors. It is on a case-to-case basis.

When selling your car, it pays to know how much similar cars have sold for. Doing your research can mean that you aren’t low-balled. Know what the wholesale price of your car is so you know the base minimum that it should sell or be traded in for. You might find that no one wants to buy your car for what you are selling it at. In some cases, any deal is better than no deal at all. If you don’t need the money immediately, you are more than welcome to hold out and wait for an offer that matches what you feel to be the value of your car.

Knowing your options is the only way to sell or trade your car in and get the best deal you can.

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