Used Cars: Should I trade in my car with minor body damage?, inexpensive cars, fact survey

Question
Hello,

I drive a 2005 Honda Civic which now has minor damage to the hood and front bumper.  I planned on trading it in soon, so of course I decided to hit a parked car today. It was my first collision I've ever had with anything...how embarrassing. I hit the car at a low speed as I was parking so my hood is slightly buckled and the bumper is scuffed.  

My question is: Should I pay to get the car repaired then take it to the dealership to trade it in, or should I just take it to the dealer as is and have them deduct the repair cost from the trade-in value?

Thanks very much for your time!

Answer
Hi Audrey,

Sorry to hear about your fender bender. To answer your question: The smartest thing you could and should do is NEITHER option you mentioned. What do I mean?

If I were in your shoes what I would do is fix the car and then put it up on craigslist and sell it (retail) myself. 05 Civic's are inexpensive cars that are in very high demand and as a result are extremely easy to sell yourself. Doing it this way does two things:

1. You will get 1500-2000 more for it than you would get trading it in
2. It takes away the dealers ability to make a bigger profit on you...a trade in is a wild car and in order for you to negotiate the best possible price on your new car you want to eliminate all of the wild cards you can.

If you are dead set against doing it yourself then by all means get it fixed before you trade it in...

I am with you on this question until you are completely satisfied and can give me a perfect after the fact survey ...my direct email address is roadloans@gmail.com please feel free to ask as many follow up questions as you like until you are happy with the answer and ready to move forward

Thanks

Roger