TRADE-IN vs PRIVATE SALE?

[BurtMacklin]

Maybe it's a little early for this question- but has anyone had any experience with this? I ordered my new Bronco when the banks opened on 03/27 (I am scheduled for production), and since I don't plan on keeping my 4DR I mentioned trading it in. However, my dealer acted like he didn't really want it, and said I "will get a lot more if I sell it myself"... but I don't know if this is true. KBB trade-in values seem great, but I get the feeling he's not even going to come close to them, and the KBB private sale values seem pretty unrealistic. I have quite a bit into upgrades so I definitely want to try and get the most I can, but the appeal of the trade-in comes down to the 4k in taxes I'd save (thanks a lot, NY). Any advice / insight / experiences will be greatly appreciated!

My current Bronco for reference:

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[BlueBronco]

The several online car buying services can give you quotes and are usually good for 7 days. Don't expect to get your money back on the mods, maybe 50% at best of your cost. Private party typically yields a higher value, especially when modded, but at the expense of tire kickers and tax savings.

 

[PartsForBlue]

I find it hard to believe four door soft tops are holding value and I know for sure that no one wants a previous owner’s mods. Your dealer knows this, too.

 

[ChrisB351]

Youll definitely get more selling outright but you have to deal with people, scammers, tire kickers, broke asses, etc.. Trading in is much easier and you get a tax credit which makes up for some of the price difference. For example if they give you 50k trade and taxes are 10% youd need 55k private sell. As for mods general rule of thumb is 50% retail cost and no labor.

 

[BurtMacklin]

Youll definitely get more selling outright but you have to deal with people, scammers, tire kickers, broke asses, etc.. Trading in is much easier and you get a tax credit which makes up for some of the price difference. For example if they give you 50k trade and taxes are 10% youd need 55k private sell. As for mods general rule of thumb is 50% retail cost and no labor.

Right- honestly the last thing I want to deal with is the headache of a private sale.

 

[JKommuter]

Its free to try Carvana, Vroom etc.... Carmax takes more time but also an option to trading in at the dealership.

 

[BurtMacklin]

Its free to try Carvana, Vroom etc.... Carmax takes more time but also an option to trading in at the dealership.

I tried Carvana a few days ago out of curiosity (I sold to them once and had a great experience) but they were low... like $35k I think? I'll keep it before I let it go for that.

 

[LastEdition]

It surprises me to say this but give Car_ax a visit.
A friend recently sold his lightly modded 22’ 2-door OB to them for 9k over his purchase price last year.
On his advice I gave them a shot at my 21’ Bronco Sport FE and they gave me MSRP. I had it advertised on a well known national website and had every dealership trying to buy it ,but all the private parties never followed thru.
I would suggest going on a weekday. Make an appointment online. It takes about 20 min for them to do the evaluation and offer.

 

[BurtMacklin]

It surprises me to say this but give Car_ax a visit.
A friend recently sold his lightly modded 22’ 2-door OB to them for 9k over his purchase price last year.
On his advice I gave them a shot at my 21’ Bronco Sport FE and they gave me MSRP. I had it advertised on a well known national website and had every dealership trying to buy it ,but all the private parties never followed thru.
I would suggest going on a weekday. Make an appointment online. It takes about 20 min for them to do the evaluation and offer.

I've been hearing this. Kind of a pain because the closest one is 3 hours away- but might be worth a shot. Thank you!

 

[Golfsnob]

Carvana, Vroom and the like typically won't give you a price or will give you a low offer if it's not yet registered to you.

 

[LastEdition]

I've been hearing this. Kind of a pain because the closest one is 3 hours away- but might be worth a shot. Thank you!

3 hours does sound painful.
I was admittedly shocked by their offer. It was 3.5k higher than Car_ana. Also found out during the process with that one, if you let their first online offer expire, their second one goes up, and their third one down.

Good luck !

 

[Golfsnob]

I've got a 2 door manual BD in route that I'm not keeping since I already have a base 2 dr manual. I had a private offer of $44,000 on the base which I paid $31,500 for that I didn't accept because I don't want to sell it. 2 dr BD are listed on Carvana, etc for up to $55. If I can make some money I'll buy it and sell it.

 

[Neigh]

In December I sold my Focus ST private party. It was shockingly quick and easy due to the demand for STs and I got over 30% more than I would have by trading it. I listed it in two places: Facebook and Cargurus. All the good leads came from Facebook while Cargurus was a total waste of time and $5.

I realize you're trying to sell a Bronco, but I think you're in a similar situation with respect to demand and because of the demand it'll probably sell faster and with less hassle than folks are leading you to believe.

 

[Dral97]

I had it advertised on a well known national website and had every dealership trying to buy it ,but all the private parties never followed thru.

I had an FJ listed this way. Pita. I had like 5 scammers contact me and no serious buyers. Ended up just trading it in to the dealer I got my FE from. I got less than I wanted, but I got the tax credit.

 

[TXshaggy]

Not all states have trade-in Tax Credit so research your state before assuming that.

It’s just a math problem. See what the dealer will give, figure out tax credit, then weigh that against a private sale.

I’ve always sold my vehicles privately; it is always a hassle dealing with scammers and tire kickers…but the cash difference has been worth it.

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