If you are going to be buying a new vehicle don’t underestimate the value of your present car. You can use it to offset the cost of your new purchase. But you also need to be able to do this effectively. In some cases using the car as a trade in may not be a wise decision.
Trading in the vehicle is not the only option that is available to you. There is nothing wrong with putting the vehicle up for sale privately. There are opportunities for doing this through online classifieds or even in your local paper.
Do Your Homework
What you need to do first is have a good idea of what your vehicle is worth. You can get a fairly accurate book value for this by using the Canadian resource which is the Canada red book. This way you will know whether you are getting a fair deal on your trade-in.
With having the option of selling your vehicle itself or trading it in means you can do some comparisons. You can take your car to a dealer and ask them what they are prepared to give you.
In most cases, they will only do this as a trade in and will not just purchase your vehicle.
At the same time list your vehicle in the classifieds and see how much attention it draws. Now you can compare the price you have it listed for against what the car dealer is offering. See which is the better deal. Although there will be more involved for you if you decide to sell privately.
When you sell your vehicle in Canada privately you have to complete a used car information package. This requires you to gather a good amount of information about the vehicle which can be time consuming.