Sell Your Vehicle Privately or Trade it in? The Pros & Cons

Used Vehicle Lot | Lubbock, TX

If you’re looking to upgrade your vehicle, you’re likely wondering if you should try to sell it yourself or trade it in at the dealership. In order to make the best choice for your circumstances, it’s key to understand the pros and cons of each option.

Pros & Cons of Selling Your Vehicle Privately

Sometimes, if you sell your vehicle privately, you’ll fetch a higher selling price than what you’d get at the dealership. However, you also have to put in the time and effort of finding a buyer, meeting with them and having them take your vehicle for a test drive. Then, you’ll have to go through the prickly business of paperwork and getting them to pay you. This process will definitely delay your ability to buy a new vehicle.

Pros & Cons of Trading In Your Vehicle

Ultimately, trading in your vehicle is significantly easier and more convenient than trying to sell it yourself. Trading in your vehicle is quick and easy, and you can negotiate the value of your vehicle at the dealership — it helps to research the value of your car through guides like Kelley Blue Book. In addition, there may be tax benefits to trading in your vehicle. For instance, if you are trading in your vehicle and purchasing a new one, you may only have to pay sales tax on the difference between the trade-in value and the new car’s price.

Want to learn more about trading in your vehicle? Come visit us at Pollard Used Cars.

Bang For Your Buck: How to Choose the Best Used Car

Used Car | Lubbock, TX

Buying a used car might seem daunting, but with so many excellent options out there, it’s sure to be a rewarding experience. Here’s how to choose the best used car and make the most of your budget.

Research models

Before you start shopping around for used cars, do some research on different makes and models. Consider what you want from a vehicle — like good fuel efficiency, towing capability, safety features — and start there. Read about different segments and model years to get a good idea of what might work for you.

Check the market value

Once you have your eye on a couple of models, take a look at Kelly Blue Book to get the market value of each make, model, and year. This will help you make confident offers and avoid being overcharged.

Find a dealership with options

Shopping at an experienced used car dealership like Pollard Used Cars gives you access to all kinds of different models, and provides you with the expert guidance of an experienced team.

Get the history

With the VIN number of a vehicle, you can use a resource like Carfax to get a vehicle history report on any used vehicle. This will give you insight on any repairs, accidents, or major events in the vehicle’s history, so you can be informed before committing to a purchase.

Take a test drive

Before signing any papers, be sure to take your winning vehicle on a thorough test drive. Go at different speeds, and pay attention to the feel of the acceleration, brakes, handling, and shifting. Listen for any unusual noises and watch for any strange smells. If the car handles well, move on to the amenities. Check the sound system, heated seats, power moon-roof, and other features to make sure everything is functioning.

Come to Pollard Used Cars for a huge selection of quality vehicles.

Why Millennials Should Buy Used in Lubbock, TX

Millennials Buy Used Cars - Lubbock, TX

Millennials are known for many things, but one thing you might not know is that used cars are becoming more and more popular among younger generations. Why should millennials buy used? While cost and savings are always important, many millennials realize that modern cars are highly reliable. Thanks to financing, leasing and certification options, used cars are especially practical.

According to Auto City, Millennials should consider buying used vehicles for the lower cost. Median income is down about 21 percent, which means large monthly payments and down payments are out of the question. The average new car is over $33,000, while the average used car is just $20,000. That means used cars are the clear winners in terms of savings.

Additionally, many Millennials aren’t afraid to shop the internet and use apps to their advantage. Sites like CarFax can easily provide you with a vehicle history report as long as you have the VIN, which means there’s less guesswork when buying used.

Also, consider buying used for lower depreciation and better financing. New cars can lose up to 40 percent in their initial value over the first 3-4 years of ownership, which means used cars allow you to avoid that initial dip in value. Plus, with a lower sticker price, you’ll often spend less on financing — a bonus for anyone looking to avoid getting stuck with a big loan.

Find the perfect vehicle for your lifestyle at Pollard Used Cars.

New Year’s Auto Resolutions: Save Money and Improve Resale Value in Lubbock, TX

Service - Lubbock, TX

Many people have already made their New Year’s resolutions. But it’s not too late to consider making some auto-themed goals for 2019. By adopting some of these auto resolutions for your vehicle, you can improve its reliability, resale value, and overall condition.

According to Green Living, you should start by getting your car’s body in shape. For example, you can measure tire pressure to maintain properly-inflated tires, schedule regular tune-ups, and change the oil approximately every 5,000 miles.

Next, try being a fuel-efficient driver. Not only can you reduce your carbon footprint by driving more slowly and cautiously, but you can also save money at the pump. It turns out that speeding can lower fuel economy by up to 35 percent. Try not to make hard stops, and avoid accelerating too quickly. Additionally, clean out your vehicle’s interior, if you haven’t in a while. The extra weight might affect gas mileage.

Don’t warm up your car — no matter how inconvenient a cold vehicle interior might seem. Idling your vehicle increases the risk of theft. It also increases the wear and tear on the vehicle’s engine as well as other key parts (like the tires, transmission, and bearings).

Finally, check the tire pressure regularly. Tires typically lose pressure when its cold out, which means your car might be riding on low tires. By maintaining optimum tire pressure, you can extend the life of your tires and improve the vehicle’s fuel economy.

Jumpstart your New Year’s auto resolutions by calling us at Pollard Used Cars to schedule a maintenance appointment.

Is Kelley Blue Book Accurate?

Kelley Blue Book in Lubbock, TXWhen buying or selling a car, two questions we tend to ask are “how much is my car worth” and “how much should I be paying?” One of the sources to turn to is Kelley Blue Book. But should you take Kelley Blue Book’s word at face value?

Websites like Kelley Blue Book, Edmunds, and NADA have car value estimators that claim to give you an accurate estimate of how much your car is worth. These websites are a good starting point, as they’ll give you a ballpark number for your vehicle’s value. However, they shouldn’t be the only estimators you rely on.

While they provide estimates for your vehicle, it’s not a guarantee. Kelley Blue Book tracks prices of cars being bought and sold in order to determine the value of an identical car. However, this calculator does not account for the issue of supply and demand. The calculators also don’t consider the true condition of a car, which doesn’t always fall neatly into categories like “Excellent” or “Fair.”

In order to get the most accurate estimate of your auto’s worth, it’s best to get an additional opinion from a reputable dealership such as Pollard Used Cars. Visit us at your convenience so one of our experienced staff members can appraise your vehicle.

Cross-Shopping for Used Cars is a Growing Trend

Most car shoppers have a pretty good idea of what vehicle they are looking for when they start the shopping process. While some prefer the latest technology and safety defenses of a new vehicle, others prefer the affordability of a used one.

A current trend for consumers is cross-shopping for used cars, which involves comparing both new and used cars at the same time. According to Jumpstart Automotive Media, this trend is growing. Cross-shopping for used cars is up 19% when compared to last year. This is for both luxury and non-luxury segments. The jump in the luxury segment alone rose 36% when compared to last year’s statistics. Used cars are starting to rival new cars thanks to their value and solid build.

The survey also asked participants to share what they considered their most important shopping tools. At the top of the list for used-car shoppers was vehicle history, used car values, and financing options. Certified pre-owned shoppers wanted vehicle history, being able to search local inventory, and used car values. New car shoppers stated that searching local inventory, browsing expert car reviews, and researching vehicle information were some of their primary purchasing tools.

With these trends, used cars should start retaining their values for longer. For more information about which used vehicle might best suit your needs, stop by Pollard Used Cars.

cross-shopping for used cars

How the Trade-In Value of Your Car Is Determined

Let’s say you’ve had a vehicle for a few years, and now you’re ready to move on to something new. You probably want to go to a dealership and turn in your old ride to put the cost towards your next vehicle, but you might be unsure how the trade-in value of your old car will be determined. According to the experts at CarsDirect.com, different factors go into determining how much the dealer will pay for your vehicle such as:

Age

The year of your car will play a big role in its trade-in value. Typically, older cars have less value than newer ones.

Make and model

Some brands and nameplates hold their value better than others. For example, sports cars will usually sell for more than a sedan from the same brand.

Condition

If your vehicle has been well-maintained and/or has low miles on the odometer, it will likely sell better than a more damaged car that has been driven a lot.

Popularity

Some cars are just more popular than others. Dealers know that more popular vehicles will sell faster, so they’re willing to pay more from the get-go.

If you have a used vehicle and you’re wondering what kind of trade-in value you can get for it, don’t hesitate to contact us at Pollard Used Cars in Lubbock; we would be happy to assess your vehicle’s trade-in value.

Trade-in value for the Toyota 4Runner

Top Cars That Retain Their Value

When you drive a new car off the lot immediately after purchase, you automatically lose a significant portion of its value due to depreciation. This is one of the major reasons that so many drivers decide to buy used models—they do not suffer the same major depreciation that new cars do upon purchase.

But if you’re buying used at Pollard Used Cars in Lubbock, how do you know which car to choose? A common way to choose a solid used daily driver is to look at which models retain their value the best. Websites like Edmunds, KBB.com, and more hand out awards every year to models that have the fewest mechanical issues and retain their value the best over three to five year timelines.

Top Cars That Retain Value

If you’re in the market for a used sedan or a used coupe, you’ll want to consider some of the following models, which have frequently won retained value awards in the last few years:

  • Ford Mustang
  • Honda Civic
  • Honda Fit
  • Lexus GS
  • Nissan Altima
  • Porsche Panamera
  • Subaru Impreza
  • Subaru Legacy
  • Subaru WRX
  • Toyota Camry

Top Trucks, Vans, and SUVs That Retain Value

If you are instead looking for a used truck, used van, or used SUV, take a look at the list of the following models, which retain value better over the years:

  • Audi Q7
  • Chevrolet Suburban
  • GMC Acadia
  • Honda CR-V
  • Honda HR-V
  • Honda Odyssey
  • Jeep Wrangler
  • Lexus GX
  • Ram 2500
  • Toyota FJ Cruiser
  • Toyota Highlander
  • Toyota Tacoma
  • Toyota Tundra

How to Retain Your Car’s Value

Want to ensure a better resale price down the road? Follow these steps to retain your car’s value:

  • Wash and wax it regularly, and store it in a garage.
  • Stay current with all maintenance.
  • Don’t smoke or keep trash in the car.
  • Drive it well, with minimal rapid acceleration and hard stops.

10 Steps to Buying A Used Car

Buying a used car
Searching For The Best Used Car

Buying a car can be fun, but that doesn’t mean it isn’t stressful! Pollard Used Cars is here to take some weight off your shoulders. Here are some important steps to buying a used car.

  1. Calculate Your Budget. Before you look at cars, you’ll need to know what you can afford. Be realistic.
  2. Pick Your Model. Know what make and model of car you want before you go in.
  3. Read Reviews. Read some reviews of the car and do some research before you make the plunge.
  4. Look into CPO Programs. Consider Certified Pre-Owned programs, which give you even more benefits than a used car.
  5. Take Your Time. Don’t rush into choosing a car. Take your time at the dealership.
  6. Read the Reports. If you’re getting a CPO car, you’ll have CARFAX reports to look over.
  7. Inspect the Car. Make sure you look at the car yourself for any flaws.
  8. Test Drive. How will you know if you love it if you don’t drive it?
  9. Be Ready to Say No. Sometimes, you just can’t afford a car or have to walk away for a different reason. Prepare yourself.
  10. Be Ready to Say Yes. And of course, be ready to say yes!

Now that you know for what to look, visit Pollard Used Cars in Lubbock, TX to find the perfect used car!