Should you trade in your old car?

Trading in your car

You should only discuss the possibility of a trade-in you've researched the value of your old car. Check the library for reference books or magazines that can tell you how much it is worth. This information may help you get a better price from the dealer. Though it may take longer to sell your car yourself, you generally will get more money than if you trade it in.

More input from FAQ Farmers:

• NO! NO! NO! NEVER TRADE IN YOUR CAR. SELL IT ON EBAY OR AUTOTRADER AND YOU WILL GET MORE MONEY THAN ANY DEALERSHIP OR CAR LOT WILL OFFER. IN 2002, I SAW AN OLD LADY TRADE HER 1998 STS WITH 28K MILES ON IT AND EVERY POSSIBLE OPTION, INCLUDING MOONROOF. SHE TRADED IT IN ON A NEW STS AND SHE ONLY GOT A 8K CREDIT ON HER NEW BUY FOR THE CAR. THE CAR BOOKED FOR AT LEAST 25K AND SHE PAID 50K FOR IT IN 1998. I'M WILLING TO BET YOU THAT SHE COULD HAVE GOTTEN AT LEAST 17K FOR IT ON EBAY ON A GUY DOWN THE STREET FROM HER. NEVER TRADE IN YOUR VEHICLE!

• DON'T wait till your done negotiating your best deal then tell you have a trade. Thats lying cause they'll always ask you if you have a trade. If you want them to be honest you should to.

• Trading in your car is a tough choice you have to take into effect the time its going to take you having people come drive your car also not showing up for appointments. If something goes wrong with the car after you can bet you'll hear from the person who buys it just like a dealership does. Plus making sure all the paper work is done the title gets transfered so if the new owner gets paking tickets or whatever you don't get them on your record. Another thing is that when you trad eyour car in you only have to pay tax on the difference between the car your buying and how much your getting for yours. Keep in mind the dealership has to do any reconditioning that needs to be done on your car, advertising, and they also have to make a dollar to pay people and keep the place running. and with all that still be competative with everyone else. So don't go in thinking your going to get what it worth cause you have to take into consideration everything else. If you do sell it by yourself then it sometimes forces you to buy the first thing you after you sell yours cause you need a car then instead of wanting one. You'll be much happier with your purchase if you buy it when you want to not when you have to.

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