#Motorama LIVE - Feb 22nd 2017

To Sell OR To Trade In?

  1. Tonight @ 9PM ET on #Motorama LIVE - To Sell OR Trade In: Pros & Cons Of Each, Autonomous Racecar Crashes & MORE! https://t.co/d1MCXDGkPs
    Tonight @ 9PM ET on #Motorama LIVE - To Sell OR Trade In: Pros & Cons Of Each, Autonomous Racecar Crashes & MORE! pic.twitter.com/d1MCXDGkPs
  2. Tonight @ 9PM ET on #Motorama LIVE - To Sell OR Trade In: Pros & Cons Of Each, Autonomous Racecar Crashes & MORE! https://t.co/NBYNoEp60q
    Tonight @ 9PM ET on #Motorama LIVE - To Sell OR Trade In: Pros & Cons Of Each, Autonomous Racecar Crashes & MORE! pic.twitter.com/NBYNoEp60q
  3. Welcome to the wildest weekly hour of automotive & motorsports discussion online! It's #Motorama LIVE! I'm your HOON of hosts @BerryLowman!
  4. We've got a wild #Motorama LIVE planned for tonight, but first, I'd like to give a shoutout to someone who supports our racing efforts ...
  5. #Motorama LIVE encourages y'all to hit up @b_motorsports for ALL of your racing safety gear needs. Mention #Motorama LIVE when you call! :)
  6. @BerryLowman Thank you sir. We appreciate the shout-out, your business and your friendship! #Motorama LIVE #letsgoracing
  7. For everything from helmets to gloves, harnesses to fire bottles & so much more, give @b_motorsports a call for your safety needs! #Motorama
  8. We have come to our once a decade car deal. It's a private sale. So what do we do with our old car? #Motorama
  9. Let's dive into our #Motorama LIVE topics for tonight! First up - To Sell, OR To Trade In? We look at the pros & cons of each.
  10. It's an age old dilemma. Should you trade in your car or try to sell it yourself? Tonight, #Motorama LIVE discusses what might work for you.
  11. @dkjackson If it's a 60's American muscle car, you make me a super deal on it! #Motorama
  12. #motorama sometimes old cars go to sons, daughters, other family as upgrades but you don't have an issue to resolve in that case
  13. How many of you out there have sold your own car(s) before instead of trading them in? Share your experiences with us. #Motorama
  14. @BerryLowman My belief is to first do your homework. Know the market, meaning know the value it will bring, not just book value. #Motorama
  15. #motorama selling your old car yourself almost always gets a higher price, but at cost of time, risk, uncertainty...
  16. For the record, totaling your car is NOT the best method of offloading it. #JustSayin #Motorama
  17. @Caddyinfo Agreed. Faster deal, less hassle. Put a value to that and it may offset the difference in what you get out of the deal #Motorama
  18. @b_motorsports If that was the case, it would easier. It's our X3 beemer with 186K. It still runs well. Mama wants an upgrade #Motorama
  19. I have people ask me all the time, "Where can I get the best deal on a trade in on my old car?" The answer is not always simple. #Motorama
  20. #motorama I have traded cars, and I have refused trades due to offer, and I have sold cars via ads. I trade if the loss is minor.
  21. I've never sold a vehicle by trading it in. Seriously. Not once in my life. There's usually a knock on the door or a random offer. #Motorama
  22. @BerryLowman Keys to successful dealer trades is year and miles. If banks won't loan on it, the trade value plummets with dealers. #Motorama
  23. @BerryLowman The easy way would be Carmax or another dealer. Not top dollar but low hassle. Time is money! #Motorama
  24. The rules seems to be a car dealer will offer roughly $6-8k less on a trade in value versus what they think they can sell it for. #Motorama
  25. @BerryLowman I recently traded a GMC Envoy w/65K miles for a 2-year newer Silverado 1500 RCSB at a dealer. Even swap. $0. #nojoke #Motorama
  26. @BerryLowman if it's a popular model and you hold the title, sell it. If not, trade in is an easier option, but you'll take a hit #Motorama
  27. Time is only money when whatever you're doing to generate money is being disrupted by something else. For many, that's not true. #Motorama  https://twitter.com/dkjackson/status/834588565547995137 
  28. @BerryLowman IMHO, buy vs trade-in also depends on where you live. Big city or rural. Different needs, volumes and values. #Motorama LIVE
  29. #motorama not perfectly; keeping a car costs insurance and upkeep even if paid off; selling 3 mo later may not pay off @BerryLowman
  30. The whole sell it yourself versus trade it in question can also hinge on what kind of car you're selling as much as how you are. #Motorama
  31. Frequently if you were REALLY focused on money you should just keep driving the old car #carfever #motorama
  32. I had someone recently ask about selling a car they were "upside down" in. I told them to pay it off or keep it 'till it dies. #Motorama
  33. @Caddyinfo Unless the old car is getting too expensive to repair... #Motorama
  34. Given I traded my STS-V and my Convertible XLR for the new ATS-V I may not be the best advisor tho #motorama
  35. If you're trying to sell a used @Ferrari 458, you can probably get closer to a "retail price" versus selling a base model Camry. #Motorama
  36. @Caddyinfo @BerryLowman As car guys, we know it's more than $. It's passion for automobiles. We will knowingly overspend. #Motorama LIVE
  37. When trying to sell a car the popularity & rarity of the model can effect your sale price big time. Volume cars are dime a dozen. #Motorama
  38. @BerryLowman Yep. We found that @Ford F250 value is higher than F350 due to demand. Original price & capability don't matter. #Motorama
  39. You have to find someone looking for your exact car and willing to pay a bit more too, it seems. #Motorama  https://twitter.com/BerryLowman/status/834591495810334721 
  40. Another factor is selling a car versus trading it in is a matter of timing. If you have to sell it fast, grab hold of your ankles. #Motorama
  41. #Motorama I find there is someone looking for your old car at a fair price. also 10 people to see if you will give it away. @BerryLowman
  42. You are correct! I've been shopping for a gently used @Ford F-250 King Ranch. I can buy a 350 KR for less $$$. Popularity = price. #Motorama  https://twitter.com/b_motorsports/status/834591656695455746 
  43. @BerryLowman End of the sales month/year gives you some leverage at a franchise dealer. They want numbers on the sales board. #Motorama
  44. I've always found the BEST haggling on a new car always happens between 4-11 PM on New Years Eve. End of quarter, end of year #s. #Motorama  https://twitter.com/b_motorsports/status/834592528020152320 
  45. Best line heard at a car dealer when haggling over price: "Are you running a warehouse or a car lot?". #Motorama LIVE #letsmakeadeal
  46. If you're trying to sell an exotic car or a pure toy (boat, jet ski, Can-Am, etc), sometimes a luxury/toy reseller is a wise move. #Motorama
  47. One haggle approach was he sent Wife with a pre-written check to dealer to pick up car. No haggle available. She drove it home #motorama
  48. @BerryLowman Goes back to knowing your market. If you don't know it, commission someone that does. #Motorama LIVE #dontgethosed
  49. Always deal with the "fat man in the booth" (decision maker) on any purchase or trade in price. It all has to go to him/her anyway #Motorama  https://twitter.com/b_motorsports/status/834593180079255552 
  50. That's actually not a bad idea! Here's the check. What? You want more? Well, here's the check. Take it or leave it! #Motorama #GetErDone  https://twitter.com/Caddyinfo/status/834593549001822209 
  51. My advice for selling or trading in a vehicle - Present it as you'd want to buy it. Detail it. Price it right. Give in a little. #Motorama
  52. One can also donate an old car, but be careful to understand tax benefit if that is your goal #motorama
  53. Sometimes a car dealer WILL give you want you want for your trade in IF you give them a bit of room to resell it. Two way street. #Motorama
  54. If you're selling a car yourself, pick a spot to meet prospective buyer(s) that is safe & has a decent test driving road nearby. #Motorama
  55. #motorama I hear a lot of commercials for 'donate your old car to help' without a lot of real tax talk
  56. Never let anyone test drive your car without holding on to their license, insurance card, and keys. They'll come back for those. #Motorama
  57. If a buyer just feels "all wrong", trust your gut and DO NOT LET THEM TEST DRIVE YOUR CAR. #Motorama
  58. One seller brought car to my house to show it to me, then we went to bank and I dropped him at home #motorama
  59. Personally I don't let people drive my cars unless I know them. I'll give 'em a ride, but if they want to drive, I gotta see the $ #Motorama
  60. Some episodes Gasmonkey projects start by paying 1/2 of car value or less #motorama
  61. if you do sell your own car, remember, you've gotta go to the bank with them to cash their check before you sign over the title. #Motorama
  62. @Caddyinfo I did that with a #HUMMER H1. Drove to the buyer, then the bank, they dropped me off at home. #Motorama LIVE
  63. Speaking of selling cars, be prepared to deal with thousands of $ in hundreds - straight to bank #motorama
  64. I recommend driving to the courthouse with the person after leaving the bank to make sure they transfer the title out of your name #Motorama
  65. Remember - YOU are responsible for all crashes, tickets, tolls, etc., as long as the vehicle is still registered in your name. #Motorama
  66. @Caddyinfo Buy a magic marker that identifies counterfeit bills. We use one all the time on deals. #Motorama LIVE
  67. If someone gives you a suitcase full of cash for your car, remember to wash the white powder off the bills before depositing them. #Motorama  https://twitter.com/b_motorsports/status/834597030567825410 
  68. I'm not joking. A friend once sold a vehicle to someone from outside the country who opened a suitcase full of powdered cash ... #Motorama
  69. Wow! We've gone YARD on the To Sell or To Trade In topic tonight! Hopefully y'all gained some selling insight somewhere in there? #Motorama
  70. We thank everyone who joined in our #Motorama LIVE discussion tonight! Join us every Wed @ 9PM ET for all things automotive & motorsport! :)
  71. You forgot to say #Motorama. Draw TWO! Yeah, it isn't a NASCAR. It isn't an SUV, either. It's a CUV that needs the 2.0L engine to get on up.  https://twitter.com/testerdahl/status/844738286161543168