which one would you do? i know that you get more by selling privately but trading in there is absolutely no hassle.

 

You answered your own question. Now decide which route you want to take.

 

I don't mind the small amount of hassle I have to endure in order to maximize my return.

 

if i can afford the time and hassle, i'd prefer to sell privately.

 

sell private ftw

 

I have never sold privately, but I have heard some horror stories from friends that have, I just couldn't handle the stress that comes with some of the problems I have seen, tade ins for me.

 

Depends on the state you live in and the dealership you're dealing with. In NY state I make out just as good trading in late model cars as I would selling them and there is no hassle, I can handle the transaction in a total of 1-2 hours from the time I email the dealership, iron out the specifics and when I pick-up the car. In NY state you only pay sales tax of the new vehicle on the difference, so if you are trading in a car that is worth $10,000 to keep the math simple you get an additional $800 in your pocket and you save yourself in some cases months of on and off hassle. Don't rule out trade-in because of the money difference, it may not be that significant when you look at the bottom line, which is what matters the most.

 

Sometimes the amount you're saving on the taxes for trading in the vehicle makes up for the lower trade-in value that you would get from a dealer versus selling privately.

 

yeap tax break on the trade in... FTW

 

Used to sell privately, but as we have gotten older we've grown lazier. Not only that, but the little extra cash you get for the hassle of finding a buyer isn't worth it anymore, so we just trade it in.

Plus, sales tax on autos down here is only 3%, so even the tax incentive is minimal.

If this was years ago I would have said sell... but the last 5 years or so have all been trade-ins... and we'll likely do that again next time around when my wife is due next spring...

 

Yup.

 

I was trying to sell my rl for the longest time. It was one of the lowest priced rl's out there and no bites. I traded it for what i wanted to sell it for and i also got the tax reduction, so i made out in that area.

 

I do my research first and if the dealer is at least trying to work with me in trade-in number, I usually just trade it in. I hate to deal with all the hassle trying to sell it privately.

 

I used to never consider trading in but when my dad was trading in his old car the dealer actually offered him more than any private deal. Definitely an easier situation

 

I almost thought

 

lol. You know, after I hit submit I thought it may read that way... but no... the only thing she's due for is a new car

 

it depends on the car and how old it is ususally doesn't even want to take a car thats 6+ years

 

+1.

 

IMHO, just trade it in. Because the amount you SAVE on trading the car in on TAXES is worth it as that would be the extra amount you get from selling privately in most cases.

 

The situation I ran into was that I could have gotten more in a private sale for my Audi but I wouldn't have saved $1000 in sales taxes plus in order to market the car it would have needed a new windshield, the chip in the door fixed ($500 deductible for those two), plus a detail and state inspection.

By the time I added up all the little things, it ended up being that selling my car privately might have made me $700-1000. But for that I would have had to deal with donkeys who didn't have financing lined up, tire-kickers, and a lot of fucking hassle.

So I traded it in.

 

I've always sold privately. Only once did I trade something in and that was after 3 months of no bites.

 

I'm due for a new addition on my house!

 

9.5 times out of 10, selling private > trading in

 

Exactly.

 

Fixed

 

Haven't gotten to a point to sell my first car, but I will probably sell privately. I've seen mis padres get considerably more for vehicles they've sold over trading in.

For example, when they sold their 02 escalade a few years ago, they were being offered about $15,500 from Carmax and $17,500 from the dealer. They sold it privately for $24,500.

 

LOL, do they have the name of the person they sold it to? I might have some other stuff they want to grossly overpay for

 

It's possible.
However, IMO I don't think they paid THAT much more than it was worth. It had low miles, and was taken care of like a china doll. Damn near perfect condition.

Besides, I'm thankful. The sale of that is what funded my first vehicle.

Nov 06 I believe...not long before oil, gas prices, etc hit the roof.

 

Time or money ?

 

Here in Japan, trades are only worth while if you are buying brand new, and you are trading a vehicle that is the same company as the one you are buying (like trading my Legacy for a Forrester). Other than that, it is better to sell it yourself.

But this is a very different market than the USA. If I lived there, I would trade it in.

 

This. I generally trade in for the tax benefit. Our total sales tax here is 7.5%, so tax break adds up. Not to mention the lack of hassle outside of a little negotiation....

 

I don't know if I've been on a lucky streak or what but my last 3 car's I've traded in I've gotten a VERY fair trade in price, plus the tax break. I know I take good care of my cars, I think that may play a small role in there being very little hassle.

I've also found that trading in has no effect on the price I pay on the new car I'm purchasing. New and Used cars are two separate departments at most all dealerships, I negotiate the deal online before I step foot in the dealership, for both the trade-in and the vehicle I'm purchasing. We agree, they want to inspect my car and get the preliminary paper work buttoned up, and we schedule the delivery date. Less then 1 hour total at the dealership to pick up a car with a trade-in, the internet has taken the pain and frustration out of buying a car.

 

3% sales tax when you buy the car and then the annual personal property tax. NC rapes you slowly.

 

I traded my F150 in on my TSX because they gave me $18K for it. I saved money because IL sales tax is an anal rape with sandpaper as lube. With the sales tax that I saved on buying the new car it was like almost $20K. I looked around and trucks with similar milage and condition were going for around $20K. So in my case....trade in was way easier and I didn't really lose the potential of making a little more by selling privately.