Why trading in your vehicle is a better deal than you think
June 29 2022,
The current automotive industry is unlike anything we have seen in recent years. The value of pre-owned vehicles have gone up exponentially due to the fact that new cars are harder and harder to come by. Therefore, what used to be a clear disadvantage for consumers, the trade-in, is now a lot more appealing of an option.
Here are a few reasons why trading in your vehicle is a better deal than you may think.
Vehicle values have increased
Current vehicle values have increased which means that the value of your trade-in will also have increased. You will still get less than the market value of your vehicle, but you may get more than you need and therefore reach your objectives.
There are tax benefits
Even though there is a difference between the value of a trade-in and the market value of a vehicle, the difference isn't as wide as we may think because of the tax benefits of the trade-in. When you trade in your vehicle, the value is applied before taxes are calculated. If you use the money you received when you sold your vehicle to use as a down payment, the amount will be applied after taxes. Therefore, the value of your trade-in should actually be calculated as being plus tax.
Trading in your vehicle is a lot less of a hassle
When you trade in your vehicle, you do not have to worry about meeting with potential buyers on nights and weekends or worrying about preparing the vehicle to be sold, meaning paying for detailing and repairs. Moreover, when you trade in the vehicle, you don't have to worry about the new buyer coming back after you if a problem occurs after the sale.
Give us a call today to learn more about what we can do with your current vehicle.
