Will I benefit more from trading in my car at a dealership or by selling it on my own?
by 
Miss Awesome
ANSWERS: 5
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I always got more from private sale than from trading up.
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Trading it in is easier, you just give them the keys and they knock some money off the purchase price basically. Selling it on your own takes more effort but you'll probably get more money for it. If you look at the Kelley Blue Book ( http://www.kbb.com/ ) they always have two values - trade in and private party, private party is almost always higher.
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Depends on what you have and what you are planning on getting. Definitely shop around first. See what is out there, and see what offers dealerships make you in trade for your present vehicle. If you do not like those choices then sell your car. Or try too. You have to consider that gasoline prices have gone up a lot recently. This has caused a lot of people to reconsider what they are driving and they are seeking for fuel efficiency. The Used car market is in a slight slump due to fuel costs. So in your area it may be that a dealership trade-in deal will be better than selling for cash and using the cash as a down payment. and before your present car you need to discover if your credit rating will be one that a car-loan will be made on. Too many people do not pass the car-loan application even though a bank will give them a loan for say a house, or a boat, or other things.
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Trading is typically easier but private sale can get you more $.
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If you live in Florida, the trade-in may be best. In Florida you only pay tax on the difference between the value of the trade and the price of the new car. So if 7% of that difference is greater than price and headache of selling it yourself: Trade it in.
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