Should You Trade-In Or Sell Your Car?

Hi anon,

Really depends on yourself and your needs and also whether your dealer who is willing to take in your car is giving you a fair deal. Many consider selling directly to the next owner to be a hassle but you could also try to use Sgcarmart Quotz which allows car dealers to bid for your vehicle. Highest bidder gets the car and even if you think you can get a better deal somewhere else you can walk away.

Personally I think if I were in your situation, I would not rush to sell and most importantly I believe you should get rid of the old car first before committing to a new one so that you won't be pressured into selling lower when you are holding on to both your new and old car.

I would also probably list on both Sgcarmart and Quotz and see the response. Do some research and get the dealer to make a trade in offer as well. This would allow you to evaluate all your options and sell your car at a "good" price.

Generally (based on my personal experience and I'm not an expert), you are likely to get the best (highest) price if you sell the car to another owner directly. However, in this case, you are trading time for money.

Next, consignment (via a car dealer) will give you the next best deal. In this case, the dealer and you shares the profit from the sale of the car.

Thereafter, let's assume that there are two different dealers for car buyer and car seller. In this situation, there is no direct answer on whether you can get a higher price from a dealer (who takes in your car only) vs trade in (one that takes in your car and sells you another car).

To point out, this depends on a number of factors. For example, does the car seller have a higher profit margin so as to tolerate and give you a higher sale price for your car?

Finally, you may also consider exporting your car or to scrap it. Depending on the type of car that you have, and its COE, these two options may be worth looking into as well.

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