At Smartway Advisors, we are all about helping build knowledge when it comes to building credit and buying reliable cars.  The next series of blogs from me will be about something that could help you improve your situation in this critical part of your financial peace.  Today’s topic will be about selling your car.  For those who love the thrill of getting a great deal when buying a car, the trade-in value that the dealership provides you is critical to your decision making process.  Have you ever wondered why some dealerships will give you a higher value than another?  Is one just cheap or the other more aggressive?  Well, the truth is that the car value is the car value.  Every dealership uses the same basic information & formulas.  While trading in a car is the most convenient way to sell it, you need to be aware that many dealerships use this part of the transaction as a negotiating chip.  If you are getting an over inflated value for your trade in, then most likely, you are paying for it in the purchase price of the car.  At Smartway Advisors, you will always get a fair and honest appraisal of your vehicle’s value.

Selling your car on your own will usually yield you top dollar for your vehicle.  You need to determine what it is worth with tools such as Kelly Blue Book.  There are several options you can use, and it is important that you are honest with yourself when entering the data on your vehicle.  The two top sites for selling your car from our perspective are Craig’s list and Auto Trader.  Selling your car on your own is the most time consuming method, but again, will yield the higher profit.

Donating your car to charity is another way to dispose of your existing vehicle.  This can be an attractive alternative to many people just on principle.  Giving back in some form is a critical part of what Smartway Advisors stands for.  We donated two vehicles last year to a local charity.  Also, you may be able to benefit from this giving by using the donation as a nice tax write-off (check with your accountant).

From all of us at Smartway Advisors, I hope you find this information helpful.  Having the right car can be an important part of improving your credit.  Stay tuned for my next tip.

Can you believe that we are already a fourth of the way through January?  It goes to show how time flies in these days & times!  Many of us made big promises to change this New Year.  How are you doing?  Me, I’m batting about 50%.  Goes to show how difficult maintaining New Year’s resolutions truly are for most of us.  If you do nothing this year but commit to a healthy life style and managing your finances more effectively, you will far outpace most people.  Many of us have a tendency to make everything w e do a priority.  I suggest distinguishing between the nice to do, the important, and the critical items in your life.

If you put the two areas that I mentioned above in the critical category, I believe you will have laid a very strong foundation for the year and your life.  As promised in my December Blog, we can help you in the “Managing Your Finance” category.  Log onto Unitus’ website and look for the big icon that says:  Total Finance.  It is near the top of this page.  It is a wonderful tool that IF utilized, can provide that financial foundation and a lot more.  Also, Smartway Advisors will be rolling out Dave Ramsey’s FPU (Financial Piece University) in March.  Give us a call at 503-795-7700, if you have an interest in participating.  Our entire staff is completing this curriculum throughout the first quarter this year.

Take a moment and get out of the rat race and do something good and impactful for you and your family that will really make a difference.  If you wait or hesitate, the chance of you taking this step grow slimmer every day.  Now, that’s what I call something ‘CRITICAL.”