OT: Trade in/buy or seperate deals?

[dunbarfamily]

Is it better to trade in a vehicle and buy something used in one deal at the dealership, or make two seperate deals, one for the dealership to buy truck then one where we buy a different used truck?

Don't know if it makes a difference, but we're looking to "downgrade" and get a different vehicle worth less than the one we're selling.

I've looked around online and can't find much information. I'm hoping the super smart savvy people here can help!!

Thanks!

 

[Swimalie]

We've always (growing up with my parents and even now with my husband) bought from the dealer and then sold the old vehicle on our own. We just feel we can get a better selling the old vehicle that way. We are buying a new car next year and we'll do the same thing again.

 

[ragtopday]

Always sell your vehicle on your own! You will get a much better price than a trade-in through a dealer.

Two sources where you can get an idea of how much you can expect to get for your old car (and some shopping tips/reviews on the new one(s) you maybe considering):

Kelly Blue Book http://www.kbb.com/
Edmunds: http://www.edmunds.com/

 

[dunbarfamily]

Is it "safe" to sell on our own? I know some people do, but it seems like a big risk if the check bounces or something like that. We'd probably need to make sure it was secure money, like a cashier's check?

 

[Kitzka]

I think it's better to try to sell the car on your own. We bought a new car in august and sold our old car. the amount they were going to give us on trade is was only about $1500. we were able to sell the car for $3000.

can't speak to cashier's check. our seller brought cash.

Lara

 

[rosanafamily]

If you trade your vehicle in you only pay sales tax on the difference between the trade and the selling price. Something to consider if it is a newer trade!

 

[dunbarfamily]

Thanks for the replies so far.

I have another question...

Does it make sense to downgrade and buy an older truck? The truck we're looking to sell is a 2007 2500 crew cab. We really don't have a need for anything that fancy, and the family can't even fit in it now. He really just needs a truck to get him to and from work every day, which is about a four mile round trip and something to occasionaly haul things.