Trade-In Your Car vs. Selling It Privately.
So you’d like to sell your vehicle? Before you post ads and signs, here are some good reasons why selling your vehicle to Dorsett makes more sense instead.
Saves You Money.
In many cases, you only pay sales tax on the price difference when trading-in as opposed to the full selling price when you buy without trading-in. For instance, if you buy a new car for $30,000 and trade-in your old car for $10,000 you will only pay taxes on $20,000 versus the full $30,000. Please make sure you research and understand the differences in how your home state and the state you’ll be buying the vehicle in (in this case Indiana or Illinois) differs.
Another way that trading-in saves you money, is in the fact that you could avoid having to do any car repair or maintenance. Making sure your car is in the best running condition possible before selling, in order to get the most money out of your car, can be extra worry and expense. Items like brakes, tires and any engine or transmission work can add up quickly. When you trade your vehicle into one of our dealerships, we assume the responsibility of the repair and maintenance.
Selling your car privately can require a lot of elbow grease and time. To sell your used car, you'll most likely want to detail the car to have it looking its best for sale. Then, you’ll probably need to gather all records and documentation to be able to hand or sign over to the new owner. Then there’s running classified ads, answering phone calls throughout the day and having strangers come to your home to test drive the vehicle your selling. Initially, you may have many interested buyers or you may not. This can become a long waiting game. Then, of course, comes the negotiation process when you have someone who is actually interested in buying your vehicle.
Selling your car to us means that all you’ll have to do is bring the vehicle into one of our locations and negotiate how much the car is actually worth based on industry standard values. We take care of the documentation, care, maintenance and transferral of your vehicle. It’s a much shorter process without most of the hassles of selling it privately.
Selling your car can be potentially dangerous. When selling the vehicle yourself, be sure to take the proper precautions to ensure your personal and financial safety. When setting up meetings with interested buyers that you do not know, only schedule them when a trusted friend or family member can be there with you. Also you may want to consider meeting buyers for test drives in public areas instead of your home.
Also when discussing payment upon sale, be sure that form of payment is legitimate. Protecting yourself financially is extremely important. Cash can be acceptable as long as you have the full amount in hand at the time of sale, but most buyers will pay with some form of a check. You may not want to accept personal check as they could potentially bounce incurring extra bank fees. Banks offer certified checks to prevent such things. The Federal Deposit Insurance Corporation (FDIC) has created a website, FakeChecks.org, to help detect fraudulent checks. Beware of any checks made out for more than the final purchase price - whereby the buyer requests a cash refund from you. (The bank might initially accept such a deposit, but has 30 days to reject it should it be fraudulent.)
Finally, should you choose to trade-in your vehicle, this could prevent any chance of a dissatisfied buyer later on. Let’s say, the transmission goes out a couple of weeks after selling your vehicle. Whether you knew it’s potential to fail or not, the new owner may remember where you live and contact or harass you. This is why it’s best to have the buyer sign a release of liability to protect you from being responsible. But this may not even prevent certain buyers from becoming difficult to deal with. When you trade-in your vehicle, the dealership assumes all responsibility and you can walk away worry-free.