We understand if you don’t want to deal with the responsibilities of selling a used car. While it’s easy to list your car on AutoTrader, not everyone has time to schedule meetings with potential buyers or the desire to negotiate price, verify payment, or work with a buyer who’s trying to get financing. Selling your used car yourself will likely get you more money, but it also takes time — time that some people just aren’t willing to invest. As a result, you may want to sell your old car to a dealership. But will they buy it if you aren’t trading it in for a newer model? We have the answer.
Will a Dealer Buy Your Car?
Typically, many dealerships will be interested in buying your used car regardless of condition, mileage or other factors. Some large dealership chains, such as CarMax, have a policy to buy any vehicle you’re willing to sell, while [...]
The best advice about trading in your car is to avoid it.
You’ll always get more money selling it on your own, sometimes thousands more.
A quick tour of Kelley Blue Book‘s KBB.com used-car valuation service shows you why. Take a 2010 Honda Accord EX sedan in “very good” condition with 50,000 miles on the odometer and see what it is worth.
Kelley says that the trade-in value is $13,054 and that it would sell to a private party for $14,549. That’s a $1,500 difference, but the gap could be bigger because many dealers don’t offer the full Kelley Blue Book trade-in value. They try to buy at low wholesale and sell at the top retail price.
Trading in a car also complicates the purchase of a new car, giving the dealer an opening to inject more profit into the deal by low-balling your car. It’s also much easier for a buyer to negotiate one transaction [...]