The average consumer trade-in during 1997 had a wholesale value of approximately $9,000.00.

The same vehicle retail value in today’s market is approximately $10,600.00.

Clearly you should sell your car privately…OR SHOULD YOU?

The apparent gain is $1,600.00.

However, you should consider the following:

• The tax reduction on a $9,000.00 trade-in could be as much as $1,350.00.
• The cost to run a one-week ad in a newspaper is approximately $55.00.
• The price of a Safety Certificate including repairs assuming your vehicle to be an average condition would be on average $300.00.
• MTO Kit is $20.00
• Insurance Costs while trying to sell your vehicle.
• The time to answer and return telephone inquiries, as well as demonstrating the vehicle.

It could end up costing more
to sell your vehicle privately :
-$ 125.00

The difference quickly becomes questionable. The gain/loss has to be weighed against the aggravation of strangers calling your home at all hours. The frustration of waiting on appointments to show up to view the vehicle, and finally the worry of cheques clearing, and the reaction of the buyer if the vehicle were to breakdown on them shortly after the purchase.

We hope that this exercise has assisted you in making the decision to "trade-in or not to trade-in" a little easier.

If you’re considering on buying a vehicle privately, most people do not want to go through the trouble of getting a Safety Certificate and the additional repair expenses or getting the vehicle up to your specifications. This will mean that the vehicle will be sold to you "As Is" with "No Warranty".

Dealers have a reputation to keep and your recourse to a dealer is considerably better than that of a private seller.