Cars are expensive, there’s no question about that. The good news is that buyers have a lot of options at their disposal when it comes to purchasing them. For instance, buyers with good credit can either lease or finance a vehicle to own. Leasing consists of making monthly payments until it’s time to turn the vehicle back in and the latter consists of making monthly payments until the vehicle is paid off. Then there is the cars for cars option.
Most vehicle purchases require some sort of down payment. To accrue the money necessary for a car down payment, you can either save until you have a reasonable amount in hand or you could try selling an existing car or trading it in and putting what you get from it toward your down payment. This post will take a closer look at trading in a vehicle, when it makes sense and when to consider selling it by owner instead.
Trading in a Vehicle 101: What You Need to Know
Trading in Versus Selling by Owner
So, what’s better when it comes to netting the most to put toward a new car – selling it by owner or trading it in? That choice is yours to make. Generally speaking, if you have a classic car or a less common vehicle that will be highly sought after, it’s worth it to sell by owner. But if you’re just looking to trade in a car in the easiest and most convenient way possible, you really can’t beat going the trade in route.