Sell or Trade?

Question

I have finally decided to buy a new car. I am embarrassed to say what I'm gonna buy in this newsgroup...

However, The Stealer has offered be a generous $6000 for my 98 Cobra. I might be able to squeeze another $500 out of him. Based on what I see in Auto Trader I think I could sell it myself for 7500-8500. Here's what I have:

Black coupe, black interior

82000 miles one owner - an older guy (me)
100% stock Car runs great Brakes fairly new, so is the clutch never wrecked, body in great shape, no rust/leaks/etc If I was gonna keep it I would replace the struts, hoses, and belt Tires are nice Michelin Pilots in good shape The driver's window seems to go on vacation a few days per year, but it starts working again - not been important enuff to me to fix The driver's seat leather is pretty well worn out as is the steering wheel leather Always run synthetic oil since first oil change at 1000 miles Basically babied this car, garage kept Minor normal body dings and bug damage It's not a show car, it's my daily commuter

What do you think? Sell it or trade. I really don't feel like selling it myself.

Thanks very much for the input!

mort

.boB · Accepted Answer

The asking prices you see in auto trader are probably not what people are actually getting for their cars.

Selling it yourself requires some cash outlay for advertising. And then there's the hassle of all the people who call and look but really have no intention of buying. Or they want to give you a cashier's check from the bank of ireland. And, of course, it might take you 3-4 months to sell the car.

Each state is differant, but there might be a tax advantage to a trade in. Here in CO, you pay sales tax on the purchase price - trade in. With a $6,500 trade in you save $487 in sales tax.

-------- .boB

2006 FXDI hot rod 2008 Mustang Coupe 2001 Dodge Dakota QC 5.9/4x4/3.92 1966 Mustang Coupe - Daily Driver 1965 FFR Cobra - 427W EFI, Damn Fast.

Spike · Answer

But, that is IF you can get a dealer to pay that much. I've had dealers tell me to sell it myself because I'd get much more for the car.

As for advertising, what it has cost me in the past was made up for in the sale. And a car like yours... put some flyers up on college bulletin boards and there is some kid who is hot for a car.

And the Trader, The Nickle, etc, are cheap to adverside in. As I recall Hemmings wasn't too bad either.

Mort Guffman · Answer

Thanks for the good advice. The dealer gave me 6500 for my car so Itraded. I'm gonna miss that car... mort

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