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You should only discuss the possibility of a trade-in you've researched the value of your old car. Check the library for reference books or magazines that can tell you how much it is worth. This information may help you get a better price from the dealer. Though it may take longer to sell your car yourself, you generally will get more money than if you trade it in.
You can also quickly and easily find the value of your car on websites such as kbb.com, driverside.com, and edmunds.com More input from FAQ Farmers: * NO! NO! NO! NEVER TRADE IN YOUR CAR. SELL IT ON EBAY OR AUTOTRADER AND YOU WILL GET MORE MONEY THAN ANY DEALERSHIP OR CAR LOT WILL OFFER. IN 2002, I SAW AN OLD LADY TRADE HER 1998 STS WITH 28K MILES ON IT AND EVERY POSSIBLE OPTION, INCLUDING MOONROOF. SHE TRADED IT IN ON A NEW STS AND SHE ONLY GOT A 8K CREDIT ON HER NEW BUY FOR THE CAR. THE CAR BOOKED FOR AT LEAST 25K AND SHE PAID 50K FOR IT IN 1998. I'M WILLING TO BET YOU THAT SHE COULD HAVE GOTTEN AT LEAST 17K FOR IT ON EBAY ON A GUY DOWN THE STREET FROM HER. NEVER TRADE IN YOUR VEHICLE! * DON'T wait till your done negotiating your best deal then tell you have a trade. Thats lying cause they'll always ask you if you have a trade. If you want them to be honest you should to. * Trading in your car is a tough choice you have to take into effect the time its going to take you having people come drive your car also not showing up for appointments. If something goes wrong with the car after you can bet you'll hear from the person who buys it just like a dealership does. Plus making sure all the paper work is done the title gets transfered so if the new owner gets paking tickets or whatever you don't get them on your record. Another thing is that when you trad eyour car in you only have to pay tax on the difference between the car your buying and how much your getting for yours. Keep in mind the dealership has to do any reconditioning that needs to be done on your car, advertising, and they also have to make a dollar to pay people and keep the place running. and with all that still be competative with everyone else. So don't go in thinking your going to get what it worth cause you have to take into consideration everything else. If you do sell it by yourself then it sometimes forces you to buy the first thing you after you sell yours cause you need a car then instead of wanting one. You'll be much happier with your purchase if you buy it when you want to not when you have to. * you should think twice before trading your car. you should research to know the real value of your car you can check car classifieds online and see the car's pricing. if you know the value of your car and the value of the car your trading to if its a fair trade then you should go and made a deal.
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What is the journal entry for car trade in?
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
Why should I sell my used car as a trade in for a new model?
There are lots of reasons not to trade in your old car (you get better value when you sell it yourself, you may want to help out a family member, etc.). One reason to consider a trade in is to have something you can use for a bargaining chip in the haggling phase of new vehicle buying. Even so, you could still come out of the deal with your old car in your possession.
Should you trade your car in or pay it off?
pay it off
Where do I find a place that I can trade in my old car and buy a new one?
Go to Toyota. They will trade in your junk car and trade it in for a new one of your choice. There are hundreds of new and awesome cars to choose from.
Do you have to notify the dealer if you are trading in your car?
No, make the best deal you can on a purchase without a trade and then tell the dealer you have changed your mind and want to trade your old car in. You will then know what he is really giving you for your trade in.
When people buy a new car name something they do with their old car?
trade it in, sell it, or give it away.
Trade in an expensive car for a cheaper car?
If you will trade an expensive car for a cheaper one, make sure that the cheaper car is in good condition and the trader of the expensive car should pay exact amount of money for the expensive car.
Can you trade in a car with a balance to lease a car?
There should be no balance in trading each car. No one will accept the kind of deal.
How do I go about selling my old car?
In selling an old car, you should take note all the information and details of your car. And in giving price it should be defend on the model of your car.
Does the car dealer keep registration fees on a trade in?
All car dealers SHOULD keep registration fees on a trade in car but if a client requests other wise then there is not much they can or will do, although if you ask to know the registration fees they should be able to tell you.
How can you trade in a new car for old car if you just bought the new car?
Theoretically, yes. However, you will have a lot of negative equity to cover.
When people buy a new car they something they do with old one?
Trade it in on the new car, sell it, keep it, or donate it to charity.
