Whether you’re thinking about trading in or simply selling your car, truck or SUV, there are a few simple mistakes to avoid in order to get the most value for your vehicle.
For example, did you know there are different sales tax implications when trading in a vehicle?
Watch as Eric discusses how to maximize your return. When you’re ready to let go, make sure to visit the Germain Buying Center first to get the most competitive offer.
#1: Know What Your Car Is Worth
Know what your car is worth. Have a realistic idea of the value of your car, get quotes from a few places and be sensible about the actual condition. Obviously, we recommend starting with the Germain Buying Center for a quick and easy evaluation.
#2: Don't Skip The Wash
Don’t skip the wash. You don’t need to be a professional detailer to make a difference. Clean out the trash, wash and vacuum, and think about how you’d want your car to look if you were going to buy it.
Now, that doesn’t mean you should fix every little issue before selling, which brings us to #3.
#3: Discuss Repairs
if there are repairs needed, it’s best to discuss with us since we may be able to complete them more efficiently as part of our used car reconditioning process. If you have maintenance records, great! Make sure to bring those in and they should help increase your value.
#4: Understand The Difference Between Selling and Trading.
In most states, when you trade, the difference is subtracted from the taxable amount on the car you’re buying. Hypothetically, if you were purchasing a $25,000 car and your trade-in’s value was $10,000, you’ll only pay sales tax on $15,000. If you were to sell that same vehicle privately, you would have to pay sales tax on the full $25,000. Make sure to take this into consideration when comparing offers.
#5: Know What YOU Are Worth.
Understand the difference between trying to sell privately and selling to a third party – do you want to spend all that time and energy, or are you worth more than that? Here are some things you won’t have to worry about if you sell to Germain Buying Center:
- Deep Cleaning/Repairs
- Documentation
- Advertising
- Quality Photos
- Screening Potential Buyers
- Meeting Potential Buyers / Test Drives
- Getting Paid
- Paperwork / DMV Visit
Get started today with a quick and easy appraisal from the Germain Buying Center!
