Trading in your vehicle
The Advantages/Disadvantages
What to do with your trade-in is a very difficult decision
if you don’t know what to expect. A Dealer has the
opportunity to take advantage of the buyer at this stage
in the purchase process. In fact, stealing your trade-in
is one of the top three methods, in which a dealer can profit
in the purchase process!
Stealing
your trade-in, speaks for itself. By trading in your vehicle
below its actual value, a dealer
has profited
possibly more from your trade-in then by selling you your
new vehicle. There are tons of ways you can educate yourself
as to the value of your trade-in. Understand the condition
of your vehicle is the most important factor in this case.
Be honest as to the true condition. When you go on-line,
lets say you type in: www.KellyBlueBook.com Kelly
Blue book, doesn’t have a crystal
ball, they don’t know
the condition of your car. They simply give you an ‘approximate’ value.
Even the name on the cover of the Blue book, itself state’s “ Official
Guide” That’s all you can expect from any publication
or on line service. But isn’t that much better then
going into a dealership without any idea at all? I would
suggest, you compare your make and model to similar vehicles
offered for sale in the local newspaper. You can also accomplish
this by going on line again, and type in: www.Autotrader.com the
publication Auto Trader is a division of Cox communications.
The parent company, for all Manheim Auto Auctions. They
are the largest auto auction company in the country. They
have
over 115 auction houses plus auctions in Australia, the
UK and Europe. Take advantage of all the avenues that are
out
there for you to educate yourself? If the dealer is offering
you peanuts for a car that has a far greater value. You
might as well say…. See Ya! And pick up and leave.
I can assure you, once you do that, the dealer will get
off of
the idea your stupid, in a New York minute. In 35 years
I have never seen a dealer allow the customer to leave
without
giving it one more shot to earn your business. A dealer
can’t
make a dime if they don’t sell you a car, and that’s
where you have the advantage. You are the next paycheck
for the dealership!
This is very important information. Now lets talk about the
advantages of trading-in your vehicle as opposed to selling
it yourself. Advantages of trading your car in:
1. It is fast and simple
2. You don’t have to pay off your vehicle and spend
a lot of time talking to your lender and get cashiers check,
before they give you the Title to the vehicle. (Note) In
many states they don’t actually have a printed certificate
of ownership or title. The lender gives you the document
to acquire the certificate of ownership from your states
department of Motor vehicles. This is called a ‘paperless
title’ (A big hassle)
3. The dealer puts out their cash to payoff your trade-in.
4. You don’t have to run expensive adds in the newspaper
or automotive publications dealing with selling your vehicle.
5. You don’t have strange people calling at all hours
of the day of night about your car.
6. You don’t run the risk of exposing your home and
or family to would be evil people.
7. You don’t have to go for a test drive and expose
yourself to possible harm
8. If you don’t go on a demonstration drive with a
potential buyer for your car, the local police will not accept
your report of your vehicle being stolen, because you gave
them permission to drive your car away!
9. The police won’t accept a stolen report for up to
36 hours.
10. Your insurance company will only pay for the estimated
value of your vehicle NOT the payoff amount. Unless you have
(gap) insurance.
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