Selling Privately vs. Trading In
Should You Sell Privately or Trade in your vehicle at Niagara Chrysler?
Trading your vehicle in at Niagara Chrysler should be considered.
At Niagara Chrysler we are always on the hunt to fill and stock our used vehicle lot with great product. We will pay top dollar for trades because there is a shortage of leased vehicle returns as there was in the past.
Niagara Chrysler would much rather buy or receive trades from our customers. This is true because we know these vehicles better. This process allows us to fully assess the vehicle we are buying and to talk to you the current owner to gather valuable vehicle history information. It is much easier to sell a vehicle with a good story.
When we have your vehicle here we can drive it and fully assess the vehicle. This allows us time to make an informed decision and get you top dollar for your cared for vehicle.
Niagara Chrysler only keeps the best of the trades for our used vehicle lot. If the vehicle is not going to go on the lot we have access to many different dealers and wholesalers and can shop to the car around to make sure you still receive a great trade in price.
How Niagara Chrysler does an Appraisal
This process often seems complicated to consumers when in fact it is relatively simple.
"It's worth what you can get for it" so we start by assessing what we think we can re-sell it for. Niagara Chrysler uses a combination of current retail and wholesale market research data, together with our own experiences in the past to establish a potential retail selling price on our lot.
We then inspect the vehicle mechanically and assess the overall interior and exterior condition of the vehicle to establish an input cost to repair & refurbish the vehicle for sale on our used vehicle lot.
We then set a desired profit margin based on market conditions and the sale-ability of the vehicle itself. Like any other business we need to remain profitable to keep our doors open and to grow so we can be here to serve you for years to come.
As many people know preparation and presentation is the key to making a good first impression with a potential buyer, this is why we place such importance on the repairs & refurbishing. This requires both time and know how if you plan to do it yourself, or taking it to various professionals and paying them to repair & refurbish it for you.
Marketing, Test Drives and Inspections
It takes a certain amount of time, expense and know how to market your vehicle to the people who may be in the market for what you have. When you finally have one or two people who are interested they are going to want to test drive it which takes a lot more time and effort to arrange than most people realize. If still interested after the test drive most people will want to have the vehicle inspected by a 3rd party which again takes time and effort to arrange.
The tax savings when you trade the vehicle to Niagara Chrysler can significantly close the gap between wholesale and retail and is the deciding factor for many people to trade it vs. selling it privately.
Exp. If you bought a Dodge Grand Caravan that was selling for 28,888 Plus HST from Niagara Chrysler the taxes on the new vehicle would be $3755.44 based on 13% Ontario HST. If you had a trade-in valued at $14,450 it would reduce the overall taxable amount by the same amount ($14,438) and lower your overall taxes paid to $1878.50. The tax savings = $1,876.94 which you saved by trading in your vehicle.
When we add those tax savings of $1876.94 to the trade-in value of $14,450 you actually got $16,326.94 for your vehicle which is much closer to the retail value of the vehicle if you'd attempted to sell it yourself? Without incurring any additional time, expense or hassle.
Appraise Your Used Vehicle
Niagara Chrysler will take your vehicle as is and is responsible for the safety and any guarantee to the end user.
To start the trade-in process with one of Niagara Chrysler's Representatives, feel free to use our online TRADE IN APPRAISAL FORM