Buying a new car is exciting, but it can also be quite expensive. For the average family, it can be tough to put together enough money for a down payment on a new car, let alone having to handle the monthly payments that come attached with the loan. Fortunately, you can put yourself ahead of the game if you already have a vehicle that you can trade in at the time of purchase. At Taylor & Sons Chevrolet, we always offer great value for your trade in, so come see us right away to find out what we can do for you.
Let's take a look at some of the many benefits of trading in a car when you are ready to purchase a new one.
You Get Money!
Okay - so this is a pretty obvious point, but it is the only place we can start this article. When you trade in your old vehicle, you will be compensated for the act of turning over ownership to the dealership. Of course, it's likely that you will never see that money in cash form, since it is going to be built into the deal that you are offered for your new vehicle. For instance, if your new vehicle is $25,000, and you are offered $5,000 for your trade, the price of your new car will simply be $20,000 (plus taxes, etc.).
If you decide to own your vehicles (rather than leasing them), you'll likely wind up in a pattern of buy/trade-in for many years. Whether you tend to replace your vehicles frequently or rarely, you should be able to get some sort of value out of your old set of wheels when you are ready to upgrade. Having the availability of a trade in can do wonders in terms of the cost of your new vehicle, potentially taking the sticker price down by a significant amount.
You Get to Drive a New Vehicle
Another point that is relatively obvious yet deserving of a place on our list. When you decide to trade in your current car for a new model, you will be able to enjoy the experience of driving around town in something new. That might mean having access to newer technologies like Bluetooth that may not have been available when you last purchased a vehicle. It could also mean a nice boost in gas mileage, which is always welcome as it will save you money at the pump.
An Easier Alternative
When you arrive at the decision to replace your current car, you have basically two options available to you. On the one hand, you could trade the car in to the dealership where you are going to buy your new vehicle. On the other hand, you could opt to sell the car privately. That would mean listing the car for sale, meeting with potential buyers, negotiating a price, managing paperwork, and more. In the end, you should come away with some amount of money from that sale, and you'll likely turn around to use that money for the purchase of your new vehicle.
Does that sound like a lot of work? It is. Sure, you could come through that process successfully in the end, or you could just trade in the vehicle and make things easy. The dealership you work with will handle trade-ins on a near-daily basis, so they know exactly what to do at each step. You don't have to write an ad for your vehicle, take time out of your schedule to meet buyers, or anything like that. If you have been putting off selling your car because you aren't looking forward to the hassle, opt to trade it in and skip the legwork.
Potential Tax Savings
It's always a welcome development when you can save a little bit of money on a car purchase - or on any other kind of purchase, for that matter. If you trade in a vehicle when purchasing a new one, you could be able to save a little bit of money at the same time. Rather than having to pay sales tax on the entire price of the vehicle, tax is only due on the adjusted price after the trade in has been considered. So, from our example above, you'd only be paying tax on the $20,000 rather than the $25,000. That might not sound like a big deal, but it can add up pretty quick.
Get It Done
This goes right along with the point we made earlier about avoiding the hassle of a private sale, but we wanted to expand on just how much of a time savings you can enjoy by trading in your car. With a trade in, there is no lag while you are waiting for responses, and you don't have to spend time going back and forth with counteroffers until you reach a satisfactory deal.
Rather, you simply head to the dealership on the day you want to buy a vehicle and get to work on a deal. Depending on the circumstances surrounding the deal - the kind of car you are trading in, the kind of car you are buying, etc. - the whole thing may be finished up in just a few hours. Just like that, you'll have gotten value from your old vehicle and you will be out on the road in your new ride.
As you can see, trading in a car is a wise move - assuming you have one available to trade, that is. While you may not wind up enjoying each and every benefit we listed, depending on your specific situation, it's likely that most of these points will come to fruition as part of your deal.
When you are ready to make a purchase, Taylor & Sons Chevrolet in Ponderay is the perfect place to start shopping. We have a knowledgeable and friendly staff, a huge selection, and competitive prices. Stop by during business hours to take a look around and have any of your questions answered. We hope to see you soon!