New models of vehicles come out every year, making it tempting to buy the newest edition and to trade up. This is true for any vehicle, even the beautiful luxury brand Mercedes. When you want to sell your Mercedes, either to buy another model, or because you need the money, you need to know your options. There are pros and cons to every choice, but knowing which one works best for you is how you’ll make the most out of selling your Mercedes.

1. Trading it In

There are many benefits to trading your Mercedes in. This is the option that people typically take when they want money towards a newer model. There are also potential further reductions and deals that you can take when you trade in. For instance, in the UK, Mercedes has recently launched a scheme to take their more toxic, air-polluting cars off the road. If you have a Mercedes model that fits the bill, you can trade it in and not only receive money towards your new car, but also a £2000 discount on their new electric, or hybrid models. The downside to trading your car in is that you do not get the money back in cash, so if you need to buy something else, you need to consider alternative solutions.

2. Selling it to a Dealership

You won’t receive as much money back selling it to a dealership as you would if you sold your Mercedes privately, but you will have cut out all the paperwork. It is hard to negotiate a better price for yourself when you are selling through a dealership, however, so if what you are looking for is to sell your Mercedes for the highest price, you should do so privately.

3. Selling it Yourself

Selling it privately is how you will make the most money. It is estimated that you will get 10% to 15% more for your car by selling privately than any other option, the only problem is that you need to market and orchestrate the sale by yourself.

Market your car by creating enticing posters and taking professional photos so that you can advertise online. Make your own poster so that you can get people to visit the page that lists all the relevant information, including contact details. You can share this poster online or around town, but make sure you don’t provide your address on it! That should only be given once a deal is orchestrated.

It’s never an easy decision to sell your Mercedes, but when you need to then you should know your options. If your goal is to purchase a newer model, then you should trade your vehicle in, especially if you can apply for further discounts from the manufacturer. If, on the other hand, you want the money for other purposes, you should sell. Selling to a dealership is how you’ll take out the headache of the paperwork and legal requirements when it comes to selling a car, but you won’t make as much money. Whatever reason you sell, make sure that the option you pick is best for you.