A quick, easy way to get rid of your old vehicle is to trade it in at the dealership where you’re buying another car. While trade-in cars are relatively common, some owners prefer to look for individual buyers rather than negotiate with car dealers. Here's what you need to know about the advantages, disadvantages, and process of car trade-ins so you can decide if it's the option for you.

Pros & Cons of Trading In a Car

If you want a hassle-free process when selling your vehicle, then trading it in is a solid bet. After you speak with a salesperson, the auto dealership manager tests your car, estimates its value, then offers you a deal. This arrangement has the least hassle since you complete all transactions and paperwork in one place.

However, the dealer will more likely offer a wholesale value for a trade-in car. This price may be lower than what you could get if you sell your vehicle to an individual buyer.

How to Trade In Your Car

To get the top value for a trade-in car, check online pricing catalogs and estimate your vehicle’s worth before getting quotes from dealerships. Doing so allows you to compare the trade-in value against the rates indicated on the guides. It also allows you to offer a fair price if you’re selling to a private buyer.

Before going to the dealership, determine if you still owe money on your current car. If so, you may be able to roll that negative equity over to your new car loan. Discuss this aspect with the dealer when you negotiate the trade-in price and lock in a deal.

If you're looking for the top deals on trade-in cars, new autos, or gently used vehicles, Hurley Dodge in Hardin, IL, has you covered. Choose from their long list of high-quality vehicles, from used cars to SUVs, vans, and trucks. The family-owned company also offers first-rate customer service, and their financial team will help you determine a payment method that's most convenient for you. They also have ASE-certified technicians who provide repair and maintenance services. Check their inventory online, or call (618) 576-2225 for more information.