Trading in can often be the quickest and easiest way to sell a car. But it’s not without its downsides. Put simply, the process of trading in a car involves selling it back to a dealer. The dealer will then either retail your car to a new customer or put it into an auction for another dealer to purchase. You should always get a better price if you sell your car to a dealer who will re-sell it from their forecourt.
Either way, there will be costs the dealer will incur - either in auction fees or in ‘preparation’ expenses, such as touching up any scratches or doing a service. These costs, as well as a dealer’s overheads and margin, will be factored into the price they’ll offer you.
This means you’ll almost certainly get less money for your car from a trade-in than you will from selling it privately. But it will involve a lot less hassle and will be a much quicker process. What’s more, if you use tootle, our process of getting competing bids from multiple dealers means you can be confident you’re getting the best price!