Financially Optimize Getting Rid of Your Used Car
Here’s the age-old dilemma when buying a new (to you) car: sell your used car yourself or trade it in to the dealer (and don’t forget donating to charity). There’s no one set answer, but we’ll help you explore your used cars options from many different angles to make the right choice for your situation.
Sell Your Used Car or Trade It In?
Bankrate.Com, one of the leading aggregators of financial rate information on the Internet, offers financial pros and cons for selling or trading in your used car when buying a car.
Bankrate.Com, one of the leading aggregators of financial rate information on the Internet, offers financial pros and cons for selling or trading in your used car when buying a car.
A Primer on Both Sides
IntelliChoice article makes some good points, especially with the observation that dealers make more money with used cars than new (sometimes twice as much). It also explains how timing and location can factor into your decision.
IntelliChoice article makes some good points, especially with the observation that dealers make more money with used cars than new (sometimes twice as much). It also explains how timing and location can factor into your decision.
The Solution Depends on Your Situation
Consumer advocate Michael Royce has good practical advice (and I love the name of his website). He has a good point about not trading in your car when you owe more than it’s worth.
Consumer advocate Michael Royce has good practical advice (and I love the name of his website). He has a good point about not trading in your car when you owe more than it’s worth.
Do Neither – Donate It
Since 1992, America's Car Donation Charities Center has provided non-profit organizations with a practical means of raising funds via donated vehicles. It explains what kind of cars can be donated and what needs to be done to donate a vehicle.
Since 1992, America's Car Donation Charities Center has provided non-profit organizations with a practical means of raising funds via donated vehicles. It explains what kind of cars can be donated and what needs to be done to donate a vehicle.
The Tax Ramification
This article has a good observation on how trading your car into the dealer could save you sales tax money. It’s an issue regulated state-by-state but it’s worth pondering as one part of your decision.
This article has a good observation on how trading your car into the dealer could save you sales tax money. It’s an issue regulated state-by-state but it’s worth pondering as one part of your decision.