Should You Trade In Your Car Or Private Sell It?

[@Marathon13240]

It's tough to be sure with private sellers becuase it's easier for them to scam you, I got scammed twice in a row a few years ago buying private but I also got the best legit deal I could have ever got with a private party buy.

[@punkmanmatthew]

Carvana has given me a lot for my cars in most cases the same as I would get for a private sale or even more. Depends on the car probably but for my cars I got a lot.

[@pcarfan1676]

It's almost always a better idea to trade in as you have the tax savings and none of the headache of trying to sell on your own

[@rickyloganjr.2362]

Brian, thank you for doing a side-by-side comparison of trading a car or private selling. I appreciate your honesty about car dealerships because you really must have all your ducks in a row before stepping into a car dealership. You're exactly right the information is out there, so an individual must use it to their advantage in order to be truly happy with the final deal. You have been on inside, so again it's great that you share what you know.

[@BrosFOURRSpeed]

Glad you like it!

[@BFisherMKE]

Private sales can be a huge pain when you live in a urban area. Almost 40 people contacted me for a 335i I was selling and all offered $21-25k for it while ones with more miles and no warranty were going for 33-35k. Tire kickers, low ballers, or foreigners looking for a joy ride; all will make you wish you just trade it in. Money is great, but your time and sanity is the most valuable.

[@BrosFOURRSpeed]

That is very true. If you're only talking about a grand or two, the simplicity of a dealer is very valuable. We had many customers not except our offer because they wanted 2 grand more, and then come back a week later and make the deal because ppl low balled them, or told them a dealer can offer warranty/financing compared to doing at privately, or ppl wanting to joy ride. So that's a big downside of private selling

[@SamGiles]

Dude, this is brilliant. Thanks 👍🏻

[@Revolution_Collective]

good info man, been thinking of trading my Z in to, so good to know what to look out for!

[@BrosFOURRSpeed]

Glad to help!

[@traec1992]

Thanks for the video.. really good info. At the end of the day you need to have patience and do your research. I bought my 2016 370z Nismo about a year and a half ago at a BMW dealer in central FL for $28,900 w/10,300 miles. I researched this vehicle for 6 months and couldn't find it for less than $32,000. The reason the price was so low is because the car had been on the lot for over 30 days and it was getting ready to be sent to auction. I also had the same luck when I purchased a car for my son about 8 yrs ago. I purchased a Toyota Yaris for $7995 at a Mercedes dealer in Tampa, FL. I'd been researching the car for about 4 months and couldn't find it for less than $10,000. Same scenario with the car getting ready to be sent to auction. I mentioned I got lucky but in reality I did my research and was patient.

[@BrosFOURRSpeed]

That's a heck of a deal for the Nismo! Patients paid off!

[@SellRox]

My car has less than 150k miles and it’s a 2012 mazda3 BUT it’s got cosmetic damage on the back fender from an accident and some interior cosmetic damage from a different accident. Never fixed it cause it hasn’t affected how the car works but I’m not sure if it’s better to invest in fixing the cosmetic issues and trade in for more money or just private sell it.

[@BrosFOURRSpeed]

That's a tough one. Fixing it up and private selling would probably be your best way to maximize sale price. But when I worked at a dealer I'd factor the repair, lessoned value because of an accident and figure a good trade offer based on that. So it can depend

[@SellRox]

@@BrosFOURRSpeed is it possible to have the car appraised at a dealership just to see the how much it would be valued at? If I explain my plans to the dealer I don’t know if they’ll be helpful or just try to sell me a car/convince me to just trade it in 😅

[@StreetDrivenDaily]

Of course private sell. For example the dealer would give you 22k for your car. Private sale 30k. Take that 30k and buy another car for cash. No payments. My mom wanted to buy a brand new car and trade her old one to the dealer I said no. Private sale dude. Dealer wanted to give her 2400 and I sold it for her for 4500. Dealer wanted to give me 35k for my 911 turbo and I sold it for 45k that's 10k in the bank. I got my 07 rs4 for cash. Where in few years it be worth same what I paid as miles are pretty low on it and I don't drive much. That big chunk of cash will be a nice down payment for GT-R or 997 turbo.

[@BrosFOURRSpeed]

Seems like you did very well private selling. More normal cars, trade ins seem to be better. Porsches were always hard for us to sell because buyers are super particular. So that's probably why they low balled you on that

[@StreetDrivenDaily]

@@BrosFOURRSpeed well. They need to make profit and I get it. When you buy 14 plus year old Porsche turbo for 40 to 70k you need to check the history etc of the car. Could be running well or have nightmares with it. I'm leaning towards gtr at least 2014 and up, 2007 911 getting pretty old. And for 70k I can find some nice gtr

[@BrosFOURRSpeed]

@@StreetDrivenDaily yeah 70k was my budget for a GTR and that puts you in a great spot for a good car. Those older Porsche cars are tough to get a good one. All the ones we ever had, had so many issues

[@Casper_Blackout]

I have a 2019 Jeep grand Cherokee that I bought a year ago for 44k. Long story short I got f****d over at the dealer and I still owe 30k.... what advice do you have? Or recommend I do. I want an SRT now but I don't know what to do

[@StreetDrivenDaily]

@@Casper_Blackout If it was a year ago, and payments are high, try to refinance it for lower % Rate- Keep it for another year or two and trade-in-- that way you wont be upside down on new vehicle.

[@mattlemmons4052]

For my car it’s dealer worth is $9,500 - $10,000. Trade in is like $6,000 - $6,500 but I would get it to $7,000. Should I just sell it for $9,000 within about 3-6 months and get the extra $2k or trade it? What would you guys do?

[@kevinr5921]

Good video !! You should do a video on leasing vs financing which is better

[@BrosFOURRSpeed]

I don't know too much about leasing. But I already know nearly every time, you'll spend so much more money doing a lease

[@scottcraft7690]

That was pretty informative. Thank you .

[@AndrewKNI]

Great video. Your taxation on buying a car is high compared to the UK.

[@amill1563]

Ya looking at cars is fun but the way the deal works is critical. Thanks!

[@stevornrichards1380]

Perfect explanation

[@bandosz3218]

Do dealerships care about Kelly Blue Book and stuff like that?

[@Byu50]

Chad Bandis they do care about KBB on what they sell but they don’t care for your trade in.

[@BrosFOURRSpeed]

Chad Bandis they will look at that. But they’ll use it to your advantage. They’ll look at KBB and NADA and show you the higher value for their car and the lower one for your car. Best bet is to look up both on your car and the car you want. And then more importantly look at the other cars for sale. If KBB on a Shelby Mustang shows $27k, but all the ones for sale are at $35k, that car is worth 35. The market value is what a car is truly worth

[@DanyCesc83]

they try to make more than 4k and you know that and taxes can be lowballed when your declare how you got the car or the amount.... # is a business so of course they wanna take advantage of you IF YOU LET THEM

[@tonygiordano939]

What if you want to trade in a vehicle very love mileage car with thousands of dollars in add on’s. Will the dealer consider this during trade in or least get high end of book value? Or would it be better to remove and resell as much as possible. Thanks

[@BrosFOURRSpeed]

Dealer won't care lol. Unless it's a crazy built wide body GTR or something like that. But trade in a car stock, you will 100% get the most money that way.

[@icon_xb2genrich]

Private sell🤓👍

[@EdTrujilloWJ23]

What’s you opinion on BMW 230i its true that does cars are not reliable?.

[@BrosFOURRSpeed]

Edd Trijillo In my experience, BMW’s are horrible! I love driving them, but check engine lights pop up all the time. I’d buy one still under manufactures warranty, but sell it the day before it expires.

[@markknox5633]

Excellent video! I am curious to know how much of a factor does the zip code that you live in influence the value of the used car that you are wanting to use as a trade in at a local dealership? As an example, if I had a Nissan GT-R like the car you have and tried to find competitive pricing in my area for a similar car for sale I would quickly find out that there are none listed in under 300 miles. Would you use the 300 mile distance or simply use the pricing found in Kelly Blue Book and Edmunds for your zip code to try and determine a trade in price?

[@BrosFOURRSpeed]

For the most part I'd start my valuing at a 500 mile radius. If it was something common like a Camry, F150, Tahoe ect... I'd fine tune it closer to a 100 mile radius. Valuing cars like my GTR I'd do nation wide searches. People buying normal cars like a Camry are most likely only going to drive to nearby towns to make a purchase. And since there are more of them listed, you have tighter competition because there is one for sale at every dealer. My GTR was 400 miles away and was the only one I liked on the east coast. So cars like that, owners will gladly fly out to buy or have the vehicle shipped. And since cars like mine are more rare, customer know the competition is spread out across the country.

[@markknox5633]

Excellent information and thank you for your response! 😎👍

[@BrosFOURRSpeed]

@@markknox5633 no problem!

[@alia9147]

Do you get more trade in value if you trade in at the same dealer? for example, would I get more trading my Z in at nissan than trading it in at some other manufacturer?

[@lifeofchampion3298]

Most of the time the prices will be pretty close but one dealership may give you more money if they specialize in that type of car. They could have customers already looking for one. If you have any aftermarket parts the best option would be to go to a used dealership like mine because we will give a little more than book value depending on the mods.

[@BrosFOURRSpeed]

Ali A Listen to Jason! He’s the pro. 😎. Also if you have let’s say a nice Audi, an Audi dealer would probably want it more than a Toyota dealer. Because if it’s super new, they could offer it as a CPO, which would sell for more. So that also comes into play with relatively new cars

[@dnhan01]

Hey man this information was pretty useful to me but I had a question, I currently have a 2018 civic hatch sport that I bought new for 22.5k and it currently had 17k miles on it and the only mods I have on it is an exhaust but I’m planning to buy an 2019 si. I’m currently financing it and have 5k left on it, would would the best price for me that the dealership could possibly give me for my car? Would it be 18-19k?

[@mexblanco1844]

I’m trying to trade my 2016 Mercedes C300 for the same car with lower mileage lol. Bought mine for $32000 cash at 78k km and now it has 112k less than a year later🥴(Drive a lot) I’ve already found some for around $29K with only around 40 km!!! if I could get at least 29k back for mine I should be able to pull this off😂😭😂

[@RawrRex8]

Don't you live in North Carolina? I actually just bought a 2015 Nissan GTR through a private seller from Florida. I'm in Charlotte, but would definitely be up to meet fellow GTR owners. Same color as yours but black interior.

[@BrosFOURRSpeed]

Oh nice! Go to the next Charlotte Cars and Coffee! We'll be there! Send me a message on Instagram

[@RawrRex8]

Bros FOURR Speed sounds good man. If I don't come up there with my car I'll still probably attend. The GT-R is being shipped to me as we speak, but there's a laundry list of maintenance items I need to take care of before she's road ready. Brake pads, diffs, transmission fluid, and an oil change.

[@BrosFOURRSpeed]

@@RawrRex8 oh wow. Just let me know!

[@RawrRex8]

Bros FOURR Speed will do man!

[@baileyhalford9592]

My car is a 2007 Dodge nitro. Idk if anyone would take it

[@OctaneStreet]

Makes sense 👌

[@evobudbrink]

I traded in my iPhone

[@Bubu617]

How much did you still owe on the 370z when you traded it in for the GTR?

[@BrosFOURRSpeed]

I think it was about $12k

[@R00STER92]

What camera do you use in your videos?

[@BrosFOURRSpeed]

Sony Alpha a5100, GoPro Hero 4 Silver and GoPro Hero 2018

[@hnx8522]

If your trade is paid off, and the dealer asks you "How much you owe on your trade", what's the best way to answer this? Do we tell them it's paid off or can we lie to them saying we still owe $$ on it?

[@BrosFOURRSpeed]

Always be honest. If you are actually planning to buy the car you're looking at, they'll end up knowing regardless. :) Just don't get suckered in to being a 'payment shopper'. Tell them it's paid off, and already know what a reasonably trade value is for your car, and know what a reasonable price is on the new car. Only talk out the door prices. Once thats established figure out how much down you're comfortable with and from there, see what different terms look like for payment.

[@hnx8522]

@@BrosFOURRSpeed thanks!

[@BrosFOURRSpeed]

Hnx No problem! Good luck on your next purchase!

[@a35zdet]

Private sale...sell me your GTR 😅

[@BrosFOURRSpeed]

Since I love this car... I'll let it go for $80k lol

[@kbw.rvwhntr]

What's that stuff on your face? 😁 jk...hope you had a great weekend!

[@rasta77-x7o]

"95% of people like to finance a car" Well 95% of people are stupid, lets get a loan with interest for a depreciating asset. Poor people like to keep themselves poor that is for sure. Also $1,000 loss through dealer? HAHAHAHAHA not in Australia, it's a good $10k loss trading in compared to private sale.

[@BrosFOURRSpeed]

If you look at it from the other side. Why put all your money into a "depreciating" asset like a car, (paying in full) when you can finance it, build your credit history and use the rest of that money to go towards investing or other things and even make money to pay for the car, so a second source of income to pay for the car and make more money then what you owe each month. All about perspective and what you want to spend your hard earned money on.

[@rasta77-x7o]

@@BrosFOURRSpeed This works in some countries better than others. Also you need to have the smarts, 90% of people aren't financing a car because they invested elsewhere, they are financing because they are poor. If they were smart enough to invest with car money they would have done it sooner and be buying the car outright with their profits.

[@BrosFOURRSpeed]

@@rasta77-x7o To each their own, everyone does what works best for them, doesn't mean their stupid just because you do it differently. I've enjoyed my car the last 3 years even if I didn't profit from it, it's very well worth the small amount of interest for a car enthusiasts.

[@rasta77-x7o]

@@BrosFOURRSpeed Fair enough, if you enjoy it and are happy you are doing better than most people.