Four Great Reasons To Trade In Your Car

May 17th, 2021 by

Competitive Offers On Trade-Ins At Spitzer Chevrolet Amherst
Stop into Spitzer Chevrolet Amherst to learn why trading in your Chevy is the best choice when buying a new vehicle. Our Finance Experts will be more than happy to explain the differences between selling or trading, and why trading in your vehicle usually makes more sense. They can also help you figure out when is the best time to trade in your car.

Get The Best Value With A Trade-In
For most people, a car is a big investment. That’s why, when you decide to make a new vehicle purchase, you want to get as much value out of your old one as possible. This is when a good car dealership, like Spitzer Chevrolet Amherst, can help you out.

A good car dealer can confirm your car’s details, like trim and options, and know exactly how much it’s worth on the market so you don’t have to guess at it.

Once you’ve figured out your trade-in value, most dealers will give you a substantial discount on a new car if you trade-in your old car and buy a new one from them. That’s because they’re always looking for more vehicles for their used and pre-owned vehicle inventory. So, you may feel like you’re getting less on a trade-in than if you’d sold it yourself, but you’re making up the difference on your new car cost.

Great Savings On Sales Tax
State sales tax can add a large amount to a new vehicle purchase. The good news is, there’s a great way to save on car sales tax—by trading in your current vehicle.

The average state sales tax is around 7%. That means if you buy a vehicle for $20,000, the sales tax will end up costing you $1,400. But, when you trade-in a vehicle, you only have to pay the sales tax on the difference between the purchase price of the new vehicle and the value of the trade-in.

So, if you buy a car for $20,000, and your trade-in car is worth $8,000, you’ll only pay sales tax on $12,000, which means that the amount you owe in sales tax is only $840. That’s a savings of $560—no small amount.

Better Financing Options When You Trade-In Your Car
Most buyers need to take out a loan when they buy a newer model year car. Deciding to trade-in rather than selling your car can actually help with new car financing. At most reputable car dealerships, like Spitzer Chevrolet Amherst, there are many more financing options when you trade in a vehicle.

Besides better options, when you trade-in your vehicle, the amount you have to finance will be lower because it’s minus your trade-in cost. This can be especially helpful in lowering monthly payments on a tight budget.

Trade-Ins Save You Money And Time
Deciding to trade-in your vehicle will not only save you money, but it can save you a lot of time and hassle as well. It’s not easy trying to sell your own vehicle. There’s the decision of where and how to sell it, and if you do more than stick a for sale sign on the windshield, there are costs involved in advertising.

Also, there’s the uncertainty of knowing whether someone’s offer is good or not, and negotiating with people who want to pay you less than the car is worth. Unfortunately, there can also be dicey situations involving money exchanges and title transfers.

Trading in your vehicle removes all these potential difficulties, and is way more convenient, saving you both time and trouble.

When Is The Best Time To Trade Your Vehicle In?
Knowing when to trade-in your car can vary depending on its condition, but a good rule to follow is trading it in before it hits 100,000 miles. Typically after too many miles and too many years of ownership, the vehicle becomes less appealing to dealers, as it can’t be included in their Certified Pre-Owned inventories.

Another thing to think about is depreciation. The newer your vehicle is, the more it’s worth. However, once your vehicle reaches about five years, its value will hit bottom and there won’t be such a significant difference if you wait longer than that.

The Best Value In Trade-Ins
To learn more about trading your car in vs. selling your car, stop by Spitzer Chevrolet Amherst and talk to one of our knowledgeable Finance Experts. They’ll be happy to help you figure out what your current vehicle is worth and show you our all-new lineup of 2021 Chevrolet cars, trucks, and SUVs.

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