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Trade-In Vs. Private Sale Vehicle

Should You Sell Privately or Trade?

Trading in your current vehicle at Southside Mitsubishi should be a serious consideration and here's why. 

At Southside Mitsubishi we strive to offer a wide selection of makes, models and price ranges of used cars, used trucks and used SUV’s on our used vehicle lot. To replenish our used vehicle inventory we either have to buy them from various live and on-line Auto Auctions or buy from you when you are looking for your next vehicle.

Southside Mitsubishi would much rather replenish our used inventory selection by purchasing your current vehicle as a trade-in when you purchase your next vehicle. 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. Southside Mitsubishi has found that most customers who are shopping for a used vehicle love it when we can give them a brief history about the vehicle they are considering buying.

When Southside Mitsubishi buys your trade-in we get to see it, drive it, inspect it and we save time and money on shipping; therefore we can afford to pay you top dollar vs. an auction vehicle we know little about.

How Do We Evaluate your Trade?

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. Southside Mitsubishi 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 salability 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.

Formula: Estimated Retail Selling Price – Repairs & Refurbishing – Profit Margin = the price we can afford to pay you for your trade-in.

This price would be considered a wholesale price as we intend to re-sell it at a higher retail price after any Repairs & Refurbishing.

How Will You Benefit?

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 knowhow 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 knowhow 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.

Tax Savings: 
The tax savings when you trade the vehicle to Southside Mitsubishi can significantly close the gap between wholesale and retail and is the deciding factor for many people to trade it vs. selling it privately.

Liability and Hassle: 
Full disclosure of any major issue like, has it been ‘written-off’ previously and has the ‘odometer’ ever been changed should be provided whether you sell it privately or you trade it to Southside Mitsubishi. So providing you disclosed any issues, if you sell it privately you may not be liable for breakdowns or issues that could occur after the sale but there is no question the buyer will attempt to seek re-imbursement if issues should arise. This is not only time consuming but it can also become very emotionally stressful.

Trading your vehicle to Southside Mitsubishi relieves you of this liability and stress as we fully inspect the vehicle during the appraisal process and offer you a price ‘as is’.

To start the trade-in process with one of Southside Mitsubishi's knowledgable advisors, feel free to use our online Trade Appraisal form!

Maybe it's time to take a look at what we have in our 2018 and 2019 New Vehicle Showroom, or in our Pre-owned Inventory