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October 24, 2008, Newsletter Issue #165: The Downside of Private Sells vs. Vehicle Trade-ins
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Tip of the Week
By and large, car sellers will make more on their old car than from a trade-in.
The risks and work associated with selling to a private party may give the trade in more appeal. Here are a few of the tasks and risks involved in selling a car a vehicle privately:
-- With a private car sell, you may be opening your home to unsavory strangers
-- To avoid any liability issues in regard to transferring the title of the car, the paperwork must be prepared for DMV documentation
-- Drop insurance coverage as soon as your name has been removed from the title
-- A current smog certification is required in certain states
Unlike the vehicle trade-in where most of the work can be performed online and consist of a few offers from dealers, selling to private buyer requires a little more work.
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