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Trading in Your Vehicle vs. Selling Privately

When it comes to selling your old vehicle you may have a tough time deciding if you want to trade it in or sell it privately; here are tips to help you.

There are three types of buyers for your vehicle:

  • a friend or a friend of a friend

  • strangers

  • car dealers

A Friend of a Friend of a Friend

When you know the person you are selling to, selling your vehicle privately is a little easier. You come up with an asking price and that’s it generally. However, you may think selling to a friend is a risk because, “what if something goes wrong with the vehicle?”

Strangers

When you are selling to someone you don’t know, you need to send out an advertisement that you are selling your vehicle. Something to think about: this tactic is a balance between having the lowest price (because you are competing with more people) and the best value (or condition/low mileage).

Car Dealers

When you do a trade-in, you are selling your vehicle to the dealer at wholesale price. This means the dealership is offering what they would have to pay for a car like yours at a dealer auction. They are making money off you, but you are able to find a ‘buyer’ for your vehicle.

Sales Team

Legacy Ford Ponoka

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