If you are in the market for a new car but need to unload your current one, you may be wondering if it is better to sell it or trade it in at a car dealership. Trading it in comes with a list of benefits. Here are the top four advantages of this route.

What Are the Benefits of Trading in Your Vehicle?

1. Time Saver

All you need to do is bring your vehicle to the dealer, and their staff will appraise its value. There is no need to advertise the sale or show documentation, like emissions tests, repair records or safety certificates.

You also don’t have to go through multiple buyers until you land on the right deal, which can take weeks or even months. The dealer will handle every aspect of the transaction once you negotiate and settle on the details, and you can seal the deal in a day.

2. As-Is Sale

You may choose to make repairs on the car, but you don’t have to. The car dealership assumes responsibility for it no matter the condition, even with mechanical issues. Private sales may lead to buyers requesting money off for trouble or that you fix problems before settling on a deal. After the dealer takes over, your job is done.

3. Down Payment

Trade-in value can be applied to the balance of your new car, which saves you money. If your car is paid off, you will get the current value.

If you still owe money and it is worth more than what is left on the loan, this positive equity can be used as a down payment. You will also have to pay less in sales tax because the final bill is lower.

4. New Financing

You are not on the hook for the financing of your old vehicle. When the dealership agrees to the trade-in, they pay off the balance with the lender. While balances exceeding the new purchase will be added to your new car’s loan balance, you may end up in a better situation with better rates and a more reliable, new vehicle.

When you are ready to trade in your current car and need a reliable new ride, head over to Cornerstone Motors of Alliance. The Alliance, OH-based car dealership offers a vast inventory of used and pre-owned cars as well as used trucks and SUVs from top manufacturers like Ford®, GMC®, and Dodge®. Their friendly, honest staff makes finding the right vehicle easy. Call (330) 680-9066 for more information or visit them online to view their inventory of certified pre-owned cars.