Should I Sell My Car Private Party or Should I Trade It In?

I have a 2004 Jeep Grand Cherokee Laredo. It has 79,000 miles, a 4L inline 6 and 4 wheel drive. I inherited it from my grandfather. I like it, but it has a few downsides that I'm finding harder and harder to overlook. 1. A lot of the time when I get in and go somewhere it reminds me of him and makes me sad. 2. It hasn't been the most reliable vehicle ever. 3. It is horribly gas inefficient. I know that SUVs generally are good on gas to begin with, but I've been getting around 11-12 mpg which is way off of the EPA numbers. My mom gets better mileage in her V8 2004 Ford Expedition. I figure that if I'm going to spend that kind of money on gas I should get an SUV with 3 rows of seats. I need an SUV because I live on a dirt road in Maine. Between mud season and winter I can't have anything that doesn't have ground clearance and 4 wheel drive. It's because of these reasons that I've decided to get a different car.

I can't decide whether I should sell it my self or trade it in. I know that I could get more money selling it myself, but it sounds like a hassle. I've never bought or sold a car before, so it seems daunting. If i sell it myself I can get enough money to buy my new car, register and inspect it and have some left over.

I'm leaning more towards trading it in though. They've done this many times so they'll know how to do all of the paperwork and stuff. I know I'll get less at the dealership, but at least I know that they've inspected the car I'm looking at and found there is nothing wrong with it. I'm pretty sure I can get enough money in the trade in to flat trade for the car I'm looking at. I'm just afraid of: A. being suckered out of money and B. if I flat trade it I don't know if I'll have enough money saved up to pay for the registration and inspection of my new car.

What would you do? Also tips would be helpful.

P.S.: The car I'm looking at buying is a 2003 Chevy Trailblazer Ext. 4.2L inline 6, 7 seats, 4 wheel drive, 130,000 miles, clean carfax and it is listed at the dealer for $7,700.

Trading a car in is definitely the easiest and fastest way to do it. However, NEVER expect that the dealer is helping you out in any way. They will always attempt to give you the lowest amount for your trade and take the highest amount for their car. One thing you can do is take your trade to CarMax. They will offer you a quote in writing that's good for 7 days. You can get a good idea of what kind of value you will receive.

Selling a car on craigslist is not terribly difficult if you are asking a fair price. You can almost always make more than you would on trade in, but many people like the ease of the trade in process and so car dealers continue to make money on those vehicles. There are pros and cons either way so it really comes down to money vs. convenience. Which is more important to you?

Regardless of what you do with the trade, take the car you want to buy and spend the 30-40 bucks a used car inspection will cost at a reputable mechanic. This can help you avoid a $7,700 mistake. Don't ignore any problems just because you are excited. That excitement will quickly fade!

Finally, it's always a good idea to take someone who is not emotionally involved to the dealership to make sure that you are making smart decisions. Buying a car is excited and people often behave differently than they normally do. Good luck.

Clint