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Trading vs. Selling Your Vehicle | How Much is My Vehicle Worth? | Used Cars for Sale in Sioux Falls

When you search for new or used cars for sale it’s extremely common to want to know what your current vehicle is worth. In addition, contemplating if you should trade-in or sell your vehicle is very common. While weighing the benefits of trading vs selling your vehicle, Vern Eide Motorcars is here to help with some questions, tips and suggestions! We know used cars for sale in Sioux Falls can lead to many options and we are here to help.

OK, you’ve found a new or even pre-owned vehicle for sale you really like and you’re thinking about a test drive. If you have a current vehicle, there are a few options you have: trade-in, sell yourself, or keep it. We will break down the differences between each and provide some areas to consider before you make the final decision to buy that new or used vehicle for sale in Sioux Falls! First up, trading in your vehicle.

What’s my vehicle worth? What’s my trade-in value? How much will I get if I trade in my car, truck or SUV? Those are some very common questions Sioux Falls drivers ask as they go through the car buying process. Luckily, there are many resources available to help you determine what your car may be worth.

When you buy a car, you may decide to trade in your old one. If your car is worth more than you owe on it, you may be able to use the difference toward the purchase price of a new vehicle. Comparing offers from various dealers and negotiating can help you get the most money for your trade-in. Most car dealerships in Sioux Falls will offer you money for your trade-in, especially if you buy a vehicle at their location. Vern Eide Motorcars is always open to trading for used vehicles, but we don’t require you to buy a car from us. We buy cars, and pay top dollar, without requiring drivers to buy from us. That’s one important difference and consideration we bring to the table. Most times, we do trade for a vehicle while selling one of our cars for sale in Sioux Falls, but we want to stress that it is not required! If it makes sense and matches up with your budget and lifestyle, then we’d love the opportunity of course. The following list are some additional areas for you to consider if you’re trading in your vehicle - there are more but we provide some key areas:

  • Have you researched what your current vehicle is worth? If you’ve started this process with outside resources you’ll more than likely find different trade in ranges. Some sources provide an estimated range of what to expect while others provide an exact dollar amount. It’s important to complete the trade-in evaluation process with realistic feedback on your current vehicle so you have an accurate estimate. For example, if you say your trade-in is clean but it actually has some bumps, bruises, and dents, then you will start over while your vehicle is inspected. At Vern Eide, our team will do a vehicle walk around on your current ride and discuss everything we find, explaining where and what will be needed to recondition your vehicle once we trade for it. You’ll know exactly what we will offer you and why!
  • Do you owe money on your current vehicle? If you own your vehicle and don’t have any payments left, that means you’ll have more money towards the vehicle you’re interested in! If you do owe money on your current ride, no problem. Our lease and finance experts always take the time to walk through all your options, answer all your questions and make sure you know exactly what’s going on. If you owe money, you can definitely still trade in your vehicle, but the outstanding balance of your loan will probably be rolled into the new vehicle payments. This means your monthly payment will include all monies borrowed and potentially increasing your new monthly investment.

Up next, whether or not you should sell the vehicle yourself. This is another viable option that exists. Most of the time, selling your vehicle comes down to convenience, patience and financial situations. There are resources to help you sell your vehicle on your own, some of which consumers look at when they aren’t in a hurry or have an “extra” vehicle they don’t drive as often anymore. This may require additional patience, as it may take a while to find the right buyer willing to pay you what you’re asking for. You will also need to meet with those potential buyers and coordinate all the legal responsibilities, making sure you get everything right so you don’t have any potential consequences. At any of our Vern Eide locations, we will buy vehicles and don’t require a trade-in. We use a variety of third-party resources combined with current market conditions to offer you a very fair deal, and we can pay cash! We walk through all the steps with you so you know exactly what you’re receiving for an offer. Our no-hassle, fair and straightforward approach is a very convenient and time-saving opportunity if you want to only sell your vehicle.

At Vern Eide, we believe a fun & friendly approach combined helpful and honest communication is the best way to earn your business. There are many used car dealerships in Sioux Falls but not everyone follows these practices. We have been fortunate to serve our community for many years through good business practices and our thousands of customers we’ve helped over the years is a good example of us following through with us doing what we say we will do, one of our core values known as The Eide Effect. If you’re considering buying, trading or selling we are available to help answer any questions! We want you to be confident when you ask yourself, “what’s my vehicle worth?”!

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