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Monday, March 30, 2015

Selling a Car? Know Your Options

Thinking about looking for a new set of wheels?  If this is not your first purchase chances are you already have a car that you will need to find a home for either before or during the purchase process.  Here are a few tips on the benefits and drawbacks of each of your options when looking to make the transition.

Four choices- There are basically four options if you decide you need to get rid of your old car. You can either:

Sell it yourself- This option is the most work, but it also tends to create the greatest yield.  Your best bets are the local paper, radio yard sale, or online selling forums such as craigslist.  If you don’t want to deal with the hassle of having strangers call you up and drive your car, this option is not for you

Consignment- You take your car to a dealer and they sell the car for you, taking a portion of the profit and giving you the rest. This is more convenient than the first option, but you will obviously be paying a commission to sell your vehicle.

Trade In- Trade in is basically when a dealer gives you a price for your vehicle and that trade in value is applied to the price of a new or used vehicle that you wish to purchase.  Often, the trade in value is below Kelly Blue Book as the dealer must resell your vehicle. This is, by far, the most convenient option. It is not often the best way to get the most for your old vehicle.

Donate- You may be eligible for a tax deduction that is equal to or slightly lower than the Kelly Blue Book value of your car as long as certain guidelines are met. This is a very nice way of helping others and getting rid of the old car at the same time. Consult your tax advisor to see if this option makes sense for your particular situation.

For this and other tips on how to improve your vehicle for sale visit us on the web at www.olympiaautomall.net .  For the best new or used car dealerships in Tacoma  the Olympia Auto Mall is your premier choice!

The Olympia Auto Mall – Washington's Largest!!!


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