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Question 19

Vehicle trade-in vs private sale is a simple decision that affects net proceeds. Private sales typically fetch higher prices but require more effort; trade-ins are fast and can reduce sales tax in some jurisdictions because the dealer applies the trade-in value against purchase. When you plan to move from one milestone to another (trade-in an older car to buy a newer one), estimate net proceeds under both options and include time cost and convenience. The question assesses the common-sense trade-off between speed and net proceeds.

Which is typically true comparing private sale to dealer trade-in?

Did You Also Know...

By Wise Wallet

The Amsterdam exchange and the Dutch East India Company’s tradable shares in 1602 are often credited with launching the modern stock market.