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If searching ‘ sell my car’ online raises more questions than answers, you’re in the right place! Car buying and selling is what we do best at Crossroads GMC, and when it comes to trading in or selling your car, it’s good to know you have options. more Whether you decide to sell your car or trade it in, it’s a smart move to work with a dealer. When you try to sell yourself, you have to work with a lot of unknowns. You don’t know when your car will sell, if it will sell, or how much you’ll get for it. Working with a dealer who knows their stuff will take those worries off your shoulders and give you the peace of mind you’re searching for. So, should you trade in or sell? What is involved? Whether you’re an experienced car owner or not, selling or trading your car can be challenging. A Dealer Trade-In First, let’s look at what it means to trade a vehicle in. Trading in your vehicle is a guaranteed way to sell it fast. It also means you’ll be getting into a new vehicle. When you trade in a vehicle, it’s also important to remember that while this method is a quick and easy way to get yourself into a new ride, you’ll get a little less for your car. This is because dealerships offer wholesale prices rather than market value. Buying a vehicle at wholesale allows them to make a profit when they resell it and deliver a great deal to a buyer. If you’re not overly concerned with getting top dollar for your vehicle, trading in your old ride at the dealer means you get a few extra dollars towards your new vehicle now rather than later. Keep in mind that it’s in the dealer’s best interest to offer drivers fair and competitive pricing when it comes to trade-ins. Doing your research ahead of time and keeping the condition of your used vehicle in mind will make the whole process more comfortable. Trade-In Factors What does a dealer base a trade-in price on? When you research the value of your used model, you’re sure to notice a varying price range, and while many people want to get as much as possible, it’s essential to keep several things in mind. Condition: If your vehicle is older, has lots of miles on it, or has visible damage or repairs, this can bring the value down and affect the trade-in offer. If your car hasn’t been clean in decades and is stained, has ripped upholstery, or is damaged in some way, expect a lower offer. Cleaning your car or having it professionally detailed before it’s assessed is a great way to show it off in the best possible light. Popularity: Is your model in demand? If your model is one the dealer is always on the lookout for or one they think will sell quickly, you’re bound to get a better offer. Car History: Dealers will run a check to verify your vehicle’s history. If it has been involved in an accident, this can lower the trade-in value. When it comes to trading your vehicle in, many dealers are willing to work with drivers to come up with a price that is fair for everyone. Dealers want to accommodate potential customers, but remember to be reasonable and keep your expectations realistic when negotiating. Selling Your Car To The Dealer What if you simply want to sell your car and aren’t looking for a new one? No problem! Many dealerships are happy to work with drivers who simply want to sell. Selling differs from a trade-in because instead of the money rolling over for a new vehicle, the driver gets cash (or, in most cases, a check) in hand. If you have expenses you need to pay or find yourself in possession of a vehicle you don’t need, selling to a dealer can be a great idea. Selling privately doesn’t have the security that selling to a dealer does. Selling privately puts everything on the seller, whereas a dealer is an auto expert who can assess a price and file the right paperwork, making the process as painless and quick as possible. You will have to pay for that convenience, though. As with a trade-in, when you sell to a dealer, you shouldn’t expect to get market value but rather a wholesale offer. If you don’t have time to mess around with potential buyers and want to sell your car now, working with a dealer is often the best way to do it. Preparing your vehicle ahead of time to make sure it’s clean and all paperwork is in order will make the process go a lot smoother. If there are mechanical issues like a leak or cosmetic problems like a chip or stains, you might want to invest in repairing them before you bring your car to the dealer. At the very least, be sure to bring them up when discussing a possible sale price. The dealer will go over your vehicle to get a good idea of its current condition, and this will be reflected in the offer they make. Again, it’s in a dealer’s best interest to keep their customers happy, so they will try to offer a competitive price for your vehicle. Once you and the dealer agree on a price for your car, it’s time for paperwork. This is where it pays off to sell to a dealer; they take care of the fine details for you. Bring your title with you, and the dealer will supply you with a bill of sale. What If I Have A Loan? When selling or trading in your car, be prepared to pay off any existing auto loan. After all, it’s not entirely your car to sell if you have an auto loan through a financial institution like a bank or credit union. When talking to a dealer, make sure you bring up the fact there is a loan on the car. Having the current paperwork to show how much you still owe will save a lot of confusion. What if you want to sell a car with an auto loan attached to it? You have options. When trading in your vehicle, it may be possible to roll over the existing amount owed on the car onto your new auto loan. Or, if the amount on the loan is low enough, you can use the money the dealer offers to pay off the loan. Example 1: You want to sell. You have a current auto loan for $3,000. The dealer offers to buy your used car for $4,000. This amount will first go towards paying off the 3k auto loan, leaving you with $1,000. The dealer will cut you a check for the remaining $1,000. Example 2: You want to trade in. You have a current auto loan for $3,000. The dealer offers to buy your used car for only $2,000. That means you still owe $1,000 on your previous loan. You can pay off the $1,000 if you have the money on hand, or talk to the financial team at the dealership and see if you can roll that $1,000 onto the new loan you need for your next vehicle. Remember that if you roll over a previous loan onto a new one, your payment might be higher than you initially calculated. Feel Good About Where You Shop Whatever your situation is, the dealer’s sales and financial teams will be able to answer your questions and walk you through the trade-in or selling process so that it is straightforward and headache-free. Knowing your options and keeping your expectations reasonable is a simple way to sell your vehicle and get a fair price. Ready to trade in a vehicle for your dream car? Making sure your vehicle is in top shape, researching its market value, and looking at the price for a potentially new model you want to buy are good ways to ensure you’re getting the most for your money. Ready to sell? Save time and frustration when you sell to a dealer. Once again, making sure your vehicle is clean and well-maintained, and you have your paperwork in hand will make the process go quicker. Whether you want to trade in your vehicle for a new ride or you want to sell it and put some extra cash in your pocket, your best bet is to work with a dealer you can trust. Selling a car yourself is never a sure thing. It can be easy one time and difficult the next. With a dealer, you can expect a professional and friendly experience that will make you feel good about your choices and where you choose to do business.

ave you ever had thoughts about driving another car? Perhaps one with a bold exterior and high-sitting wheels. Or how about one with technology and safety features that are better than other cars? It’s completely natural; there are many, many new and used vehicles out there that are worth checking out, and wanting to peek inside their stylish interiors is a bonus when car shopping. However, what does that mean for your old car? You don’t just want to haul it off to the junkyard to be crushed. I mean, you made an investment, and that entitles you to a return. As much as you may feel odd about letting go of the vehicle you have had for so long, everyone has to do it eventually—and probably more than once. more You have a couple of options for your current ride: you can pass it down to your kids, give it to charity (yes, you can donate cars working or not), send it to the junkyard (which I highly do not recommend), or sell it. While it can be nice to pass it along or donate to the less fortunate, many people do not have the luxury to let their current car go without getting some money in return, especially if they are purchasing a new ride for themselves. Gifting, donating, and junking are simply not lucrative options. At some point, most of us have had to say, “I need to sell my car.” While on the face of it, selling a car seems pretty straightforward, there are some considerations a seller has to keep in mind. Depreciation No matter what you use your car for, if you own a vehicle, you’ve probably faced the depressing reality of depreciation—the loss of value over time. Did you know that car depreciation happens the minute you drive a brand-new car off the lot? Most cars lose around 20% of their value within the first year alone. While depreciation is unavoidable, there are ways to calculate how much value your car has lost. Many free calculators are available online, and you can even use them before making your next purchase. The more you keep track of your car’s maintenance and appearance and are mindful of how much you are traveling, the more you can slow its depreciation. How is the market value of a car determined? First of all, it is good to remember where you are. Vehicles here in the South will not have had to face rough winters and road salt, but the constant local humidity will take its toll. Instead of checking on the national average of the vehicle you’re driving, start with local prices. You never want to look to third parties for this—places like Facebook MarketPlace, Offer Up, etc., but industry sources that can provide you with reliable data. There are other factors that you’ll need to consider, too, like your car’s mileage, condition, and, of course, make, model, and year. If this all sounds a little confusing (which it can be without the right tools), then I suggest Tradepending, an online tool that can help you balance all your car’s factors and calculate a fair asking price. It makes the process much easier and gives you the answers you need much faster than working it out yourself. Value One of the major aspects of setting a price for your car is how it looks. What kind of appearance issues may affect your selling price? It all depends on the type of car you have and the purpose of that car. For example, if you are driving a truck and most of your damage is in the bed and not the cabin, it may affect its value based on whether that buyer is looking for a comfortable ride or one that can handle a tough job carrying heavy loads. You also want to do your best to maintain its exterior because, while it may be superficial, nobody wants to drive around in a car that looks like a lemon, even if it isn’t one. Other factors that can affect the sale value of your car are things you may not even think of, like stickers, cloudy headlights, and window tints. Try to remember that not everyone has the same taste as you; you want to do your best to strip down the car like it is the first day it arrived on the lot. Can You Sell? Like the coming and going of seasons, there are business seasons. Just as there is a “right time” to sell lemonade on a hot summer day instead of freezing winters, is there a “right time” to sell your car? Many people might argue that right around April is a great time to sell because some buyers will use their tax refunds to upgrade from their current car. In January, some people like to make a clean start with the new year and keep their resolutions to themselves. However, it is not the time of year or “right time” to sell a car rather than the car’s age that matters. A car’s age can determine how fast you will be able to sell. Typically, that magic number is eight. It will be more beneficial to have a car that is eight years old or less to sell within a reasonable timeline. Mileage, technology and safety features, and style all combine to decrease the demand for older cars. How about a car that you’re still paying for? Can you sell your car even if you have not paid off the loan? In short, yes. However, if you are privately selling—meaning you are not trading in or selling to a dealership that handles that side of things—things can get complicated. Although you can sell your car privately to a buyer while you still owe money, you can not transfer the title until the debt has been resolved. Most people get around this by using the money they get for their car to pay off the rest of their debt, then they can transfer the title. This can work more smoothly when you work with a dealer. Know Your Buyer Besides selling the car to get it off your hands, there are a few more factors to keep in mind. Who is buying my car? Are they car dealers? Is it a random stranger? Why are they interested? Knowing what they plan to use the vehicle for can affect your approach to selling it to them. Also, and importantly, if it is a private buyer, do they have a license? Always be careful when it comes to buying or selling big-ticket items. There are always scammers around, and you don’t want to end up with a sour taste in your mouth after the sale. Sell your car with someone you trust, ensure payments go through, have all the necessary contact information, and remember to breathe. Selling a car can bring about many emotions, especially if it is your first time or you have had the car for a long time and are emotionally invested. That bittersweet feeling is a part of life, and like the car you are selling, you have to move on. The End of One Chapter and the Start of Another If you have a car and want to move on, the best and most popular idea is selling it. Even with car depreciation and watching for scammers, you can earn a good return on the vehicle you are ready to part with. Keep track of the value of your car, remember to “know your buyer,” keep your car looking sharp until you have closed the deal, and everything should go according to plan. Selling your car might be the best thing you’ve ever done with it. It’s time to turn it over to someone else to have adventures with.