Trading in your old model when you’re moving up to a new one can seem like a great deal at first, but you’ll often throw money away if you take this route. No matter what you’re trading in, the same fundamental principle applies: when you sell to a store or dealer, you’re forced to sell at a significantly lower wholesale price so the store can profit by reselling the item at retail price. When you sell to a private party, that higher retail value goes straight to you. Here are a few common instances where you might be tempted to trade in your old item but can get a better deal by reselling it yourself.
- Trading in your old car at a dealership. Even if you go to o