Selling a car can be a difficult decision for many reasons. Many of us get emotionally attached to our cars, and this can make some of the important financial considerations that go into selling one a bit tougher to manage.
At Auction Direct USA, our car dealers are here to help you with a sale or trade-in process. We’ll keep you on task and remind you when your objective judgment is being clouded. Here are five questions you should be asking yourself before you make the final call to sell a vehicle.
Why Are You Selling?
Some people go through “new car lust” – our brain’s natural desire for something new or better. It’s important not to confuse this with legitimate reasons for wanting a new car, such as constant and costly repairs to your current used car.
In today’s online age, it’s much easier to make these kinds of decisions. You can learn how long you can reasonably expect your current car to last given its current condition, and when it might become too expensive to continue owning it.
What’s the Worth?
This may seem like a straightforward question: What is your car’s Blue Book value? However, it’s actually more detailed. You have to consider other financial items – things like the value of not relying on public transit, the value of being free of a car payment, or even the emotional value of your own vehicle. These metrics are subjective, but they’re important to think about before selling.
How Will You Sell It?
There are a few different ways of selling your car, from private sales to a trade-in with a dealership like Auction Direct USA. Your choice will depend on how much legwork you want to do, along with the value of the car.
Are Your Expectations Reasonable?
If you’re getting a new or preowned car to replace the one being sold, make sure your expectations are realistic here. You may have a perfectionist ideal for what your new vehicle will be like, but you should be more realistic – separate what’s possible and what’s simply wishful thinking well before you commit to selling the old car.
Are There Costs Associated With the Upgrade?
It’s easy to skip over additional costs during a car sale, but these can be significant. Consider things like higher insurance premiums, state licensing fees, taxes and any finance charges you may have to pay for your replacement vehicle. Through this lens, a move that looks affordable can quickly look different.
Want to learn more about selling a car, or interested in any of our other services? The pros at Auction Direct USA are standing by.