The Benefits of Trading In Your Vehicle vs. Private Sale
Buying a new vehicle can be exciting, especially when it’s a reliable Toyota car or SUV. However, having to deal with selling your old car first can be a real pain. You don’t want to go through the troubles of paying extra money to clean your car or repair certain parts. On top of that, you will need to list your vehicle online and put in the extra work dealing with calls from several potential buyers. Instead, you may want to consider trading in your old vehicle for a new one as you can enjoy all of the benefits and peace of mind that comes with a trade-in.
Save on Sales Tax
When you utilize your existing vehicle as a trade-in, the dealer will credit its value to the purchase of your new car. This means that you’ll have to pay less out of pocket or through financing to purchase your new vehicle. The main benefit of this trade-in option is that you don’t have to pay sales tax on your trade-in value. Had you sold your car in a private sale, you would have to pay tax on the entire purchase of your new car.
If you still owe money on your existing vehicle, it can put an unnecessary hiccup in your ability to make a private sale. Many buyers are uncomfortable doing a vehicle transaction when they don’t get a title in hand. You will need to use their money to pay off the existing loan on your vehicle for your lender to give you possession of the vehicle’s title. This complicated process can deter many buyers. Fortunately, the experts at Beaver Toyota of Cumming deal with these types of transactions all of the time. We will make the trade-in process as smooth as possible.
If you opt for a private sale route, you’ll likely need to sell your vehicle before you can purchase a new one. There’s no guarantee when you’ll be able to sell your car. On average, it takes between two to six weeks to sell a used vehicle in a private sale.
During that time, you may have found the perfect vehicle at a dealership and might miss out on purchasing it because you haven’t sold your old car yet. When you opt for trading in your old clunker, you can do so that day. If you stop by our Toyota dealership and see the vehicle you want, you can simply trade in your car and have your new Toyota that day.
No Advertising Investment
When you sell your vehicle on the private market, you’ll likely need to pay to advertise it. Whether it’s an online ad or a paper ad, you’ll need to pay for it out-of-pocket to get the word out so that interested buyers can get in contact with you. When you opt for trading in your old vehicle, you don’t have to worry about advertising or any extras that go along with the private sale process.
Save Money on Cleaning
When you sell your vehicle on the private market, you’ll want to make it look presentable to ensure that you get top-dollar from buyers. However, this in-depth cleaning will cost money. You may pay a couple of hundred dollars to get your car detailed by a professional. When you trade in your existing vehicle, you don’t have to worry about cleaning it. The dealership has its own equipment to do the cleaning and isn’t overly worried about how dirty your car is.
Safe and Reliable Transaction
When you opt for trading in your vehicle at a dealership, the process comes along with peace of mind. Dealerships deal with the buying and selling process of cars every single day. You can rest assured that your transaction will be done safely and correctly. If you opt for a private sale, you may be at risk for scams. For example, counterfeit bills, canceled wire transfers, and even forged cashier’s checks are all possible.
Contact Us Today
If you’re interested in trading your old vehicle for a new Toyota car, truck, or SUV, contact us or stop by Beaver Toyota of Cumming today. Our helpful sales associates can assist you with trading in your old vehicle and leaving the lot in a brand new Toyota.