Here is why you should NEVER trade in cars to a dealership when buying a new car…
The sales people at the auto dealerships swear they will give you as much for your old car trade in as if you sold it yourself, right?
In fact, they might even tell you that they will give you MORE than what your old car is worth!
Don’t fall for that!
They will usually give you much less than what your auto trade in is worth because they will clean it up and re-sell it from their lot. Are you aware that automobile dealers easily (and I’m being very conservative here) make 2 to 3 times MORE on the sale of used cars than they do from selling new cars?
Even if they give you full retail value for your used trade-in then you should know that they will make up for what they “lost” on trading in your vehicle on the other side of the deal by adding bogus fee’s to the price, options that you really don’t need, or by adding points to your loan that could result in your vehicle costing hundreds and perhaps even thousands of dollars more than it should have.
Instead of trading in your old car, here is what you should do!
Spend a few hours cleaning it up and sell it yourself. You will pocket hundreds or even thousands more than what any car dealer will give you.
Also, get your loan from an outside source instead of through the dealership. Why? Because it will cost you much less by avoiding all the potential ripoffs in the dealers finance department and there are many online sources where you can pre-approved for a car loan.
When you trade in cars to a dealership, you are not only burning your hard earned money, but you are opening yourself up to more tricks they can pull on you during the car buying process.