Do you sell, trade or give away your old car when you buy a new one? (best, price)

[The Outcast]

When I have bought a new car I always have traded in my old car to the same dealer who sold me the new one. Usually I drive my car until it is near death so my trade is nearly worthless. At best I get $2000 for my trade in, but usually closer to $1000.

So what do most people do to get rid of their old car before a purchase of a new one? I know trading it in at the dealer is less hassle but I will get maybe half as much. Putting it on Craigslist and having customers stop by the house is a better idea money wise but isn't the hassle a major chore for an extra $1000.

[car54]

No dealer would even consider taking my cars in trade when I'm done with 'em. Sometimes they'll offer to get rid of it for me...for $100.

So, I call the guys that post "Cash for Junk Cars" signs on telephone poles. They usually pay $25 or $50...

[KoobleKar]

It all depends upon what kind of condition the particular car is in and what it may be worth.

I normally would attempt the trade with the dealership and see what kind of money they are offering first. I'll normally try that at several dealers to get a good idea.

If I feel the car is worth more than any of the dealers are willing to go, I'll try and sell it myself. $1000 is well worth a bit of hassle (private sale) to me.

The three things to always keep in mind when dealing with a dealership.....

1) Try to deal only with the top dog......owner or manager. The standard salesman is trying to maximize his commission and they've always got to get the OK from the top dog anyhow. You might as well cut-out the middleman and deal directly with him/her.

2) When trading, it doesn't really matter what they say they'll give you for your trade or how much they are going to take off of the new car's price. Its the DIFFERENCE that is the key number! Never get fooled by slick talk.....what money you will actually be plopping down is all that counts.

3) If you can sell your car privately and then approach a dealer with cash in hand, you have a bit more leverage (not as much as in the past). When it really comes down to the final deal numbers and you want them to either give you a little something extra for free or to meet your price, saying that your in a position to hand them the money right NOW and they can go home that night with a sale under their belt often works wonders.

[jlawrence01]

Generally, I head to the hardware store and buy one of those "For Sale" signs.

I price the car at $500. I park the car at a temp agency (usually Labor Ready or similar) or the local laundromat and wait for calls. Generally, I will get 5-10 calls or more.

Then it becomes a matter who can come up with the $500 in cash the fastest.

No lengthy negotiations, no checks, no waiting for loans to be approved, no BS ...

Sure, I could get more but I am not willing to put up with the hassle.

[jtur88]

Last time I bought a car, I would have given my old one away. But when I asked the seller if he'd take my old one in trade (I didn't expect him to), he said $500, so I took it. Two days later, I found out that he had re-sold it already, so he probably had a buyer in mind. But usually I just ask around the neighborhood if anybody is desperate for a working car and can't afford one, and give it to them.

[getmeoutofhere]

Trade in. Easier, and by the time you factor in tax breaks, I wouldn't make that much more selling it myself. And selling it yourself is a pain in the butt.

[TheViking85]

I'll be selling mine, but it really depends on the car.

[North Beach Person]

You missed my option-keep it and run it as a beater until it dies.

Used to trade them in but I put so many miles on them that when I get a new one (somewhere around the 6th or 7th year) they're at 150K. When I say new I do mean new, not new to me.