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.