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Car Sale / Purchase
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Mac Elite
Join Date: Aug 2001
Location: Capitol City
Status:
Offline
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I'm not really into cars, and haven't bought or sold many cars. I currently have a Jeep Commander, which I bought to seat my family of 5, and all our stuff for camping trips, road trips, whatever. We live in the mountains east of Salt Lake City, and appreciate all wheel drive as well.
The Commander is fine, but A) it's a little too big, and B) we're wanting to spend a little less on our vehicles, as we still don't own a house, and are getting our budget more in line to do that. So we're looking at selling the Jeep ($20,000ish) and buying a 2000 Volvo XC ($10,000ish), which also is all wheel drive, and could comfortable seat 2 adults and up to 5 kids.
My question to the Auto-savy folks out there is, what is the best way to do that? Ideally sell the Jeep first, and then buy the Volvo quickly thereafter. We could do with 1 car for a little while, but my Hyundai Elantra doesn't hold 3 car seats very well.
My choices I guess are, find a dealership with a Volvo I want, and have them buy the Jeep. This is probably the easiest, but would possibly create too big of a gap on what I owe and what I could get. I owe about $20,000 even on the Jeep, and they list for that much on Edmunds, but it seems like I probably wouldn't get more than $17-18K from a dealer. Correct me if I'm wrong.
My other choice is to just go private party for both. There seem to be plenty of Volvos for sale private party. And I could probably sell the Jeep that way too, they seem to be in fair demand around here.
So what is the process of buying/selling a vehicle private party? I won't be able to pay cash for the Volvo, and I'm not expecting someone to come along an drop $20K cash either. So what do I do to lose as little money in the deal as possible? Am I better off just going the dealership route?
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Mac Elite
Join Date: Apr 2001
Status:
Offline
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I would sell the jeep first private, ask for cash ( I follow or meet the guy at the bank) or do a wire. then buy the Volvo private party. I take the car to a mechanic if I've already decided to buy it and have him look over it briefly, just in case, compression test and what not.
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Mac Elite
Join Date: Mar 2003
Status:
Offline
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Do dealers take trade-ins worth more than the vehical that is being purchased costs? Just wondering out loud...
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Senior User
Join Date: Mar 2007
Location: Illinois
Status:
Offline
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Did you go through the blue book when estimating the value of your car, or just going by how much the dealers are willing to offer you?
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_________________
- highstakes
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Mac Elite
Join Date: Apr 2001
Status:
Offline
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Personally I've never used a dealer for anything other than a new car purchase. I think they rip people off. They under pay and over charge. I go by blue book and sell through the paper. If the cars in good condition I've gotten more than blue book value.
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Baninated
Join Date: Aug 2007
Status:
Offline
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Avoid dealers. They are a good way to lose money on both ends. Deal with private parties. Sell it private party, you'll get more cash, and buy a car private party, you'll get it cheaper. Just have it sniffed over by a mechanic if you're unsure, and make sure it has complete records.
PS: You are forgiven for owning an SUV, because you've realized how pointless and wasteful they are. You'll EVEN be able to go camping without one, since 95% of camping involves driving on a road, driving into a spot, parking, and setting up a tent. The other benefit is if you get the volvo it will likely be faster, and undoubtedly handle and brake better, along with improved safety and better mpg.
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