We will be buying a new car soon and that will leave us with an extra one. My experience selling a car myself makes me think we don’t really have the motivation to do it ourselves this time around.
The car is located in CT and is a White 2007 Hyundai Sonata SE with ~73k miles on it. The only option is the Sunroof. For whatever reason the side mirrors seem to attract having the outer housing broken, they are still functional but the housing rattles. I’ve replaced one, unpainted grey, and will be replacing the other shortly. There are no other issues with the car as I can tell. The emissions test is due next month, so I’ll have to have that done.
I need your advice on the easiest way to sell used car. Thanks.
That’s pretty cut and dry: trade it at the dealership where you buy your new ride. Depending on your region’s tax code, the trade lets you avoid capital gains taxes when your car turns into a pile of cash. My only concern is when would-be buyers mention their trade in during the negotiation. And never discuss monthly payments: focus on the purchase price of the vehicle first. Which leads me to another point.
Consider getting an “offer letter” from another dealer, especially the big-box chains like Carmax. It’s a good number to fall back on after negotiating a sale price. If the selling dealer offers you almost nothing for your trade, it means they want to get some money back after making you a smokin’ deal on your new car.
At the end of the day, this quandary comes down to the level of convenience versus the amount of cash in hand. From your interest level and description of the Hyundai, my guess is that trading in the vehicle as-is, with no reconditioning is the best way to save money on taxes, repairs and save a ton of headaches.
Best and Brightest: share your stories for and against my position. That’s how we all learn!
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