Many people opt for cheap transportation such as buses and trains for their daily commute, while others prefer to drive their own car. Having your own vehicle has its share of both benefits and disadvantages, but we can agree that it offers convenience.
If you drive a car there may come a time when you need to upgrade. Either your current car is already old, or you want something better. Whatever the reason is, you can either trade your old car or sell it privately.
To know which option is better, let’s take a look at what it takes to upgrade your car based on its features:
Trading In Your Old Car
This is the easiest route when it comes to upgrading your car. However, just like anything else, it comes with a price. Bear in mind that this is business, and car dealers obviously need to make money out of the transaction. In the end, you may trade your old car in for a lower price than you could have received through a private sale.
But what makes this a better option for you? You may need a new car right away, and you’re trading the old one in because it no longer meets your transportation needs. For one thing, trading your old car in is ideal if you don’t have a lot of time to wait for an upgrade.
It could also be that you no longer want to spend money whenever repairs are needed. Trading in may likewise be considered if there doesn’t seem to be anyone else who would like to buy your car. In these instances, trading your old car may be the way to go.
Selling Your Car Privately
Do you need more cash to buy a new car? If upgrading a car means buying a new one, then selling your car privately will probably be the better route for you. This will enable you to get more money so you can buy a car in full or at least cover the down payment.
This is not that difficult, but it takes time since you need to make more effort in putting some ads up and informing people that your car is for sale. That means you need time, and selling your car privately is more suitable for you if you’re not in a rush to have an upgrade.
In some cases, it takes months to sell a car, as potential buyers need to test drive it or at least personally inspect the car.
Got other ideas on cheap transportation and how to get a car upgrade? Share your insights in the comments section.