Central Kia Plano Discusses Selling your Vehicle Through a Dealership
At some point, you’ve probably wondered: should you sell your used car privately or trade it to a dealership? The option you choose depends on several factors and will ultimately have an affect on your bottom-line profits. Here are a few things you should consider courtesy of the experts at Central Kia Plano before making your decision.
Selling your car privately
At first, selling your car on your own seems like it gives you the most freedom and highest price, but it also comes with a lot of time, effort and responsibility. You need to take pictures, place an ad with accurate specs, manage phone calls or emails, and accompany strangers on test drives, all whilst being wary of any scammers.
Central Kia Plano explains that potential buyers will scrutinize every dent, scratch and imperfection in the car, so you need to be prepared for any objections. Depending on the make of the car, its condition and mileage, it can take weeks if not months to sell at the right price. Once you have a buyer, you’ll then have to go to the DMV to process paperwork and complete the state inspection.
In many cases, you’ll also need to have purchased a new car before you sell your old one, so that’s also something to consider for your budget.
Trading your car in at the dealership
Trading in your car at the dealership has many advantages over selling privately. First off, it’s convenient — you don’t have to worry about placing ads and finding potential buyers. According to Central Kia Plano you also don’t have to worry about the condition your car is in as the trade-in will be cleaned up to sell on the dealer’s lot or will be sold at an auction. You save a significant amount of time as you can walk into a dealership and sell it that day. After singing the paperwork, the car is no longer your responsibility.
The second benefit is tax savings if you also purchase your new car from the same dealer. Central Kia Plano explains that in most states, when you trade-in your car to buy a new one, you only have to pay sales tax on the difference between the trade-in price and the price of the new car. This will save you money in the long run.
Although it may seem like you’re getting less money for the car, remember that in a way, it’s like you’re paying for a service: dealers absorb all the costs and risks of selling the car, and it will free up your time and energy.
The Bottom Line
If you want to maximize what a dealer or private buyer will pay you, keep your car in the best condition possible, and have a clear record of regular maintenance. The better the condition, the better price you can get, and the less stress you will be placed under during the sales process. How you choose to sell your car is a personal decision that only you can make; however, if you choose to sell privately remember what Central Kia Plano has said — it will take longer, and you incur all risks and costs of selling.
