Replacing your car
Here are are some things to consider when you have to replace your car:
- If you’re planning to buy your next car from a dealer, you have two options: sell your existing car privately or trade it in. Which option is best? It depends how much time and effort you want to put in.
- Although trading in is generally much less hassle, you probably won’t make as much money as you would from a private sale. That’s because if the dealer thinks they can sell your car for $10,000, they may only offer you a $7,000 trade-in deal, so they can make a profit. Experts advise you should always settle on the price of the new car before negotiating the trade-in price.
- On the other hand, selling a car privately can be time-consuming and stressful, and you have to pay the advertising costs.
- Find out more about the benefits and costs of selling privately vs trading in on our blog.
Whether you’re buying, selling or negotiating a trade-in, knowing how much your old car is worth and how much you should be paying for the new one is essential. These websites can help:
- Car sales
- Red Book
Once you've done this, find out how to choose between buying a new or used car.