Private sale versus trade-in

For many people the decision to trade in their older car or sell it privately is a hard one to make

. There are advantages and disadvantages to both options, however it is important to consider your own situation before making your final decision. Here we look at each option to help you decide which route will better meet you needs.

Private Sale

As a general rule, the seller will get a better price or at least one closer to the true value of the vehicle by selling it through a private sale. Of course in order to sell a car to a private buyer, you must make sure the vehicle is at minimum safe to drive. If you have an older vehicle that has seen better days, you may find yourself investing money in repairs before it is in a condition to sell. When the vehicle is ready to sell, you have to determine a price, advertising and deal with any contact and negotiations with potential buyers. For some individuals this extra work is worth it to get a higher price for the vehicle. For others, it is simply easier and more cost effective to trade in their used vehicle at a local Honda dealership.

Trade In

Using your vehicle as a trade in is often the most convenient way to get rid of a used car. It is important to note that Honda dealers are able to sell cars of almost any condition at auction, therefore they may be willing to help you when a private sale is not a reality. The drawback to trading in your used car is you will most likely not get the best price compared to a private sale, but the ease and convenience of the transaction is often worth the reduced dollar amount you see when you trade in a used car.

Private sale versus trade-in

By: Kevin Cohan

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