Trade In vs Private Sale

Stuck between trading in your used vehicle or selling it to someone? Here's some bullet point that could help you decide what to do. As for everything, there are both pros and cons for both a private sell and trading in your car, truck or SUV:
TRADE-IN
  • A Guaranteed Trade In: A dealership will accept any car in any condition. They don't care about any rips, dings, or damages (even if the vehicle doesn't run). You won't get top dollar for it, but you will have a peace of mind knowing that you were able to get rid of it.
  • It's Simple: You bring in the vehicle (or get it towed to the dealership if it doesn't run) and after a few signatures, the dealership does the hard work for you. 
  • Less Money: Although you won't get as much money back as a private sale, you'll be able to receive the vehicles wholesale value right then and there. 
  • Use the Trade In Money: After the trade-in deal has been completed with the dealership, you can then use the money for a downpayment on a new vehicle. 
  • Tax Credit: A customer in the state of New Mexico receives a tax credit based on the value of their trade.
PRIVATE SALE
  • Good Running Vehicle: A private sale can be best if the vehicle your selling is a popular model, in excellent condition, has low mileage and has previous service receipts.
  • More money in your pocket: Majority of private party buyers will typically examine the vehicle inside & out. Questions will arise such as what service history has been performed, any major tears, rips or stains and how much tire thread the car has.
  • More time to sell: A buyer will need to come visit to examine the vehicle, take it on a test drive and decide if they want to purchase the vehicle from you. If the person is willing to buy the vehicle from you, a trip to the DMV to process paperwork and complete the state inspection to continue the private sale.
  • Negotiating: A little more work is required to sell privately. This includes placing ads, taking phone calls and meeting up with multiple strangers along with giving out test drives. A timeline is hard to guess when your not sure when you will be selling your vehicle -which could take days, weeks or even months.

Questions regarding a trade-in?

Contact

Larry H. Miller Southwest Hyundai Albuquerque

8800 Lomas Boulevard Northeast
Directions Albuquerque, NM 87112

  • Sales: (888) 691-9762
  • Service: (888) 610-4831
  • Parts: (888) 719-4654
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GUARANTEE
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South East Corner of Lomas & Wyoming