Selling An Old Automobile Versus Trading It In

Picture this situation. A driver is stuck with an old vehicle, and wants to get something new and nice like a new Honda car in Los Angeles. The problem is this driver doesn’t have a lot of money, and would like to put together as large a down payment as possible. This leaves a bit of a dilemma. Does it make sense to sell the old automobile privately or trade it in at a dealership? The answer is contingent on a lot of different factors, from the seller’s availability and finances to what type of vehicle being sold.

Private sales mean just that, selling the vehicle. This can be kind of hard for non-sales professionals, so some automobiles are going to be better candidates than others. The one that’s going to do the best in this area is a popular model, ideally with a lot of different features, and has as low a mileage and maintenance needs as possible. The tradeoff for all this work is that it is most likely to get the most money for said work.

The good news when it comes to walking into a dealership is there’s a lot less of a restriction on what can be taken. Even if a vehicle isn’t actually running anymore, it can be towed in and treated as a trade. Simply have the dealership take it or bring it over, sign the essential papers papers, and the rest is handled. The caveat here is that the majority of time, what a dealership pays won’t match the general trade-in value seen online. This is because the dealer is willing to absorb certain expenses for a trade-in like cleaning it up, doing necessary processing, and getting it ready for sale either on the used-car lot or at auction.

Another major issue with selling an automobile privately is that there’s no guarantee when it comes to time. The seller needs to invest in advertising, but there’s no guarantee that this is a vehicle that people are interested in. For example, good luck selling a convertible in winter. In addition, the seller also needs to both advertise and interact with potential buyers until they finally find someone interested.

With this in mind, when trying to plan out for a new Honda Accord lease in Los Angeles, it’s ideal to try and get the most value out of any old automobiles first. However, expectations need to be tempered. People rarely pay for a new car with a used one, so budgeting, saving, and financing are likely still going to be crucial.

Posted in Hollywood Honda Dealer | No Comments »