If you're interested in buying a new vehicle and want to get rid of your old one, you can sell to a private individual or a dealer like Glockner South Point Ford. Sticking to the latter offers you many advantages, such as the following.

Convenience

Convenience is the primary advantage of selling to a dealership. All you have to do is bring us your vehicle, agree on a price, and walk away with the money. We handle all the paperwork and the transfer of title. Our financial resources and reputation ensure that any check we give you is not going to bounce.

If you sell to a private individual, you have to advertise online or in the local paper, respond to phone calls or emails from interested parties, schedule test drives, take care of transferring the title and dealing with any other paperwork, and hope that the check that they give you will not be denied. This will also take more time, often weeks, than just bringing your vehicle to a dealer.

Selling to us is safer because we make everything above-board. You are no longer legally or financially responsible for the vehicle. You never know what a private individual is up to. Their payment may be fraudulent or they may file a lawsuit alleging a problem just so they can get their money back.

Money Savings

There's no question that if you sell your car to a private individual, you will get a higher price. They can pay up to high Blue Book value or beyond if they really want your offering. We can only give you the wholesale value because we need to make a profit when we sell your car.

However, if you're buying a new car anyway, you may discover that trading your vehicle with us may save you more money in the long run. For one thing, because you're getting a credit on the trade-in, so your loan amount goes down and so do your monthly payments.

For example, assume you want to finance a $30,000 car with a 3 percent Annual Percentage Rate over a term of 48 months.

·         Without a trade-in, you will owe $664 a month for a total cost of $31,872.

·         With a trade-in worth $6,000, your monthly installment drops to $531 with a final expense of $25,488. You save $6,384, which is more than what you receive for the trade-in.

You'll also save money on taxes. If you sell to a private individual and then buy a new car in West Virginia, you'll owe a 6-percent titling sales tax on the total price of the new vehicle. If you trade in your old vehicle, the 6-percent titling sales tax applies to the purchase price minus the trade-in.

Staying Above Water

One issue that can arise when you're buying a new car is going underwater or gaining negative equity. This happens because the second that you drive a new vehicle off our dealership, it depreciates by as much as 20 percent. After a year, the value goes down by another 10 percent for a total loss of 30 percent.

If you do not account for this depreciation during financing, you will owe more on the loan than the car is worth. This makes it nearly impossible to sell or trade-in the vehicle because what you receive in compensation will not be enough to pay off the loan.

One way around this is to sell your vehicle to us. Often, the value of your trade-in can be greater than the expected depreciation of your new purchase. Because this trade-in value is deducted from your loan amount, you won't have to worry about going underwater in your financing.

What to Do Now

If we've convinced you that selling your vehicle to us gives you a better deal, why not give us a call at Glockner South Point Ford? We'll answer all your questions and invite you down for a test drive while we get a good look at your old vehicle and tell you what it is worth to us. We'll take into account your trade-in value when developing payment plans that work with your budget.


Hours

  • Monday 9:00 AM - 7:00 PM
  • Tuesday 9:00 AM - 7:00 PM
  • Wednesday 9:00 AM - 7:00 PM
  • Thursday 9:00 AM - 7:00 PM
  • Friday 9:00 AM - 6:00 PM
  • Saturday 9:00 AM - 5:00 PM
  • Sunday Closed

Contact

Glockner South Point Ford

155 County Road 406
Directions South Point, OH 45680

  • Sales: 740-894-3673
  • Service: (740) 894-3673
  • Parts: (740) 894-3673