No direct link to offer, showing via referrals only currently. Find and share referrals in this linked offer.
Chase is offering a new sign up bonus on the Chase Sapphire Preferred:
Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening
Plus, get up to $300 in statement credits on Chase Travel purchases within your first year
Card Details
$95 annual fee, not waived
No foreign transaction fees
Primary car rental insurance
$50 Annual Hotel Credit. (This is per cardmember year, rather than calendar year. Must be booked through the Chase Travel Portal.)
Card earns at the following rates:
5x on travel booked through the Chase Travel portal.
3x on Dining/Streaming Services/online grocery (excludes: excluding Target, Walmart and wholesale clubs)
2x on travel
1x on all other purchases
10% Anniversary point bonus. When you renew your card Chase will offer a 10% bonus spend. For example if you spend $25,000 you’d earn 2,500 bonus points. This is award after the annual fee is paid. This doesn’t apply to the sign up bonus.
Transferable points
Redeem points on Chase’s travel portal at a value of 1.25¢ due to the 25% travel redemption bonus
Not eligible if you’ve received a sign up bonus on the Sapphire Preferred/Reserve in the last 48 months (standard is now 48 months)
Chase 5/24 rule applies to this card
Our Verdict
Previous recent best was 85,000 points but that required going in branch. That offer was better as you get more Chase UR points, but most recent online offer was 75,000 points. Nice bit of this offer is that it’s available via referral, so great for people referring P2 or a friend/family member. We will add this to our best credit card bonuses page. Do not share your referrals in the comments below, you can use this linked thread instead. Looks like you can get an additional 10,000 points in branch.
Online and mobile banking are growing in popularity, thanks to how they can make transactions faster, easier, and more secure. Indeed, the number of Americans who are going all in on managing their finances this way continues to grow. Recent research shows that about 27% of Americans use online-only banks.
Not only that, those who use any type of online banking, whether through a traditional or online-only bank, tend to use it frequently. In SoFi’s April 2024 Banking Survey, which looked at the banking usage of 500 U.S. adults, 48% of respondents said they use online banking daily, and another 26% reported using it several times a week.
Whether you are among the online-only banking crowd or are using your traditional bank’s website or app, online and mobile banking have many advantages. And as with most financial services, there are also downsides to consider. Here, take a closer look at this important facet of your personal finances, so you can decide which banking style suits you best.
Online banking, most generally, refers to the ability to conduct transactions through a financial institution’s web page or app, making it unnecessary to go to a branch. Most banks today offer some form of online banking, and most members, in turn, are accustomed to having that option.
For instance, 63% of respondents in SoFi’s survey said they frequently use online banking to transfer funds between accounts, and 43% said they frequently do mobile check deposits.
Check account balances
77%
Transfer funds
63%
Mobile check deposit
43%
Automatic bill payment
40%
View or download account statements
38%
Chat online with customer service
17%
Source: SoFi’s April 2024 Banking Survey of 500 U.S. adults
Often, however, the term “online banking” is used to refer to online-only banking vs. traditional banking, meaning you manage your personal finances completely online.
Since online banks typically have no physical locations and therefore lower overhead, they can usually offer consumers a higher annual percentage yield (APY) on deposit accounts and other perks.
Pros of Online Banking
To better understand online-only banking, consider these upsides:
Higher Interest Rates and Lower Fees
As mentioned, online-only banks tend to offer a higher interest rate on savings accounts and possibly checking accounts, too. As of July 2024, the national interest rate on savings accounts is 0.45%. At some online-only banks, however, you can find an APY of 4.00% or higher.
In addition, these banks may offer lower or no fees. Stashing your cash in one of these banks can be a way to avoid bank fees, such as account maintenance charges and the like.
Recommended: APY vs. Interest Rate: What’s the Difference?
No Minimum Balance
Many traditional banks still require you to maintain a minimum balance or else be charged a monthly fee. In terms of how much money you need to open an account online and keep it in good standing, you may be in for a pleasant surprise. A number of digital financial institutions allow a balance of just a few dollars, and you still won’t be hit with charges on your statement.
Convenience
Online banks are open 24 hours a day, 7 days a week, which means you can take care of transactions after normal bank hours. You can manage your money whenever and wherever.
ATM Access
Most online banks are part of an online network of ATMs, such as MoneyPass or Allpoint. What’s more, there is generally no fee for using these ATMs. If the financial institution doesn’t partner with an ATM network, they will typically offer to refund ATM fees up to a certain number of withdrawals.
Enhanced Online Experience
As digital innovators, online-only banks may provide a better user experience when online or in the app. Expect to get the latest tools and access to a wealth of features such as round-up savings programs or a dashboard that helps you track your earnings, spending, and savings.
Get up to $300 when you bank with SoFi.
Open a SoFi Checking and Savings Account with direct deposit and get up to a $300 cash bonus. Plus, get up to 4.50% APY on your cash!
Cons of Online Banking
There are, however, some potential downsides to managing money this way. Consider these potential issues with online banking:
No In-Person Assistance
While most online banks provide a customer service line or chat function, they generally do not offer personal bankers. This means that there is no one available face-to-face to help you with your banking needs, such as setting up accounts, applying for loans, and getting a document notarized. If you are a person who wants and appreciates this kind of personal connection, you may not be well-suited to digital banking.
Limited Services
There may be some services that you aren’t able to enjoy with an online-only bank. It may or may not offer credit cards, car loans, and mortgages; you may not be able to deposit cash easily, as you can at a brick-and-mortar bank branch. Every online bank is different, so do your research to see what services they offer.
Limited ATM Access
Although many online banks will have a network of tens of thousands of ATMs that customers can access, others may offer less robust options vs. traditional retail banks. It’s worthwhile to see exactly where a digital bank has allied ATMs near your usual haunts, like your home and office, before signing up.
Is Online Banking Safe?
People may worry about whether online banking is safe. In the SoFi survey, 21% of respondents said they were very concerned about the security of their online bank accounts, and another 21% said they were somewhat concerned. The truth is, traditional banks are no more or less secure than online-only banks, and vice-versa. All are at a very minimal risk of a hack.
Recommended: What Do You Need to Open a Bank Account Online?
The Takeaway
Whether you call it online banking, mobile banking, or digital banking, keeping your funds with an online-only bank can offer many rewards. You’re likely to earn a higher interest rate and pay fewer fees, for instance. But those who like banking in person at a branch may choose to stick with a traditional bank. Think carefully about what suits your financial style and needs best.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.50% APY on SoFi Checking and Savings.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
4.50% APY *Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
With Nevada’s gold and silver mining history amongst the rugged mountain ranges, it’s no surprise that the state is known for its natural landscapes. From the Sierra Nevada Mountains to the Ruby Mountains and Red Rock Canyon, Nevada has charming mountain towns, perfect for anyone looking to live a mountain lifestyle.
To help you get started, Rent. has collected a list of the best mountain towns in Nevada. Whether you’re looking for a city with history or a town surrounded by lush wilderness in the middle of the state, there’s something for everyone in Nevada.
1. Boulder City
Mountain range: Spring Mountains and the Desert Mountains
Average rent price: $1,878
Population: 15,840
Apartments for rent in Boulder City, NV
Houses for rent in Boulder City, NV
Homes for sale in Boulder City, NV
Boulder City is situated between the Spring Mountains and the Desert Mountains and offers a unique blend of natural beauty and historical charm. This town has a population of just over 15,000 and is awesome for outdoor enthusiasts and history buffs alike.
The nearby mountains and parks like Sloan Canyon National Conservation Area, provide opportunities for hiking, biking, and exploring the great outdoors. Boulder City is also known for its proximity to the Hoover Dam, a marvel of modern engineering and a popular tourist destination. You can also find unique landmarks like the Nevada State Railroad Museum Boulder City, the Robert L. Mendenhall Scenic Overlook, and the Nature Discovery Trail and Rock Garden in the city.
2. Carson City
Mountain range: Sierra Nevada
Average rent price: $1,713
Population: 54,770
Apartments for rent in Carson City, NV
Houses for rent in Carson City, NV
Homes for sale in Carson City, NV
Carson City, Nevada’s capitol, is set against the backdrop of the majestic Sierra Nevada. Located near Lake Tahoe, this city has a rich history that embraces the surrounding nature. You can find popular trails and parks in the area like Ash Canyon Creek Trailhead, Kings Canyon Waterfalls, Snow Valley Peak, and Whale Beach.
The city’s 54,770 residents enjoy a blend of cultural attractions, including museums, historic sites, and outdoor activities such as hiking and skiing. Some of the popular landmarks in town include the Nevada State Railroad Museum, Nevada State Museum, and the Brewery Arts Center. With its proximity to Lake Tahoe, picturesque trails, and popular ski resorts, Carson City is a top mountain town in Nevada.
3. Elko
Mountain range: Ruby Mountains
Average rent price: $1,853
Population: 21,040
Apartments for rent in Elko, NV
Houses for rent in Elko, NV
Homes for sale in Elko, NV
Elko is a hidden gem in the heart of the Ruby Mountains, near the Jarbidge Wilderness. This spot is a paradise for those who love the great outdoors. For example, you can fish at the South Fork River, spend the day at the South Fork State Recreation Area, hike up Liberty Peak, camp near the mountains, or learn about the region at the California Trail Interpretive Center.
Elko has a population of about 21,000 and is renowned for its rich heritage, including the National Cowboy Poetry Gathering and the Northeastern Nevada Museum. The Ruby Mountains offer endless adventures, from hiking and camping to fishing in pristine mountain lakes. Elko provides a cozy community atmosphere amidst the rugged beauty of Nevada’s landscape.
4. Ely
Mountain range: Schell Creek Range
Average rent price: $1,900
Population: 4,120
Apartments for rent in Ely, NV
Houses for rent in Ely, NV
Homes for sale in Ely, NV
Ely is located in the shadow of the Schell Creek Range near the White Pine Mountains. This small town has plenty of outdoor recreation to offer its residents. For instance, you can visit the Ward Charcoal Ovens State Historic Park, hike, camp, and explore Cave Lake State Park, or check out Garnet Hill.
Ely is a historic town, originally founded in the late 1800s as a stagecoach stop along the Pony Express and Central Overland Route. In the years following, it became a copper mining town. You can learn about the town at museums like White Pine Public Museum and Nevada Northern Railway Museum. If you’re looking for a bit of history mixed with outdoor recreation, be sure to check out Ely.
5. Fallon
Mountain range: Virginia Range and the Humboldt-Toiyabe National Forest
Average rent price: $1,102
Population: 8,530
Apartments for rent in Fallon, NV
Houses for rent in Fallon, NV
Homes for sale in Fallon, NV
Fallon, situated between the Virginia Range and the Humboldt-Toiyabe National Forest, offers a unique blend of rural charm and outdoor adventure. Home to the Lahontan State Recreation Area, you can boat, fish, and camp at the park or explore nearby areas like the Fallon National Wildlife Refuge and Mt Augusta.
This town has a population of 8,530 and is known for its agricultural community, local restaurants, and the famous Fallon Cantaloupe Festival. Residents and visitors enjoy exploring the surrounding landscapes, which offer everything from bird watching to off-road adventures.
6. Incline Village
Mountain range: Sierra Nevada
Average rent price: $4,629
Population: 8,620
Apartments for rent in Incline Village, NV
Houses for rent in Incline Village, NV
Homes for sale in Incline Village, NV
Incline Village is a top Nevada mountain town with its location along the shores of Lake Tahoe and the Sierra Nevada mountains. This picturesque community is known for its stunning natural beauty and upscale amenities, like the Incline Village Championship Golf Course, Lake Tahoe Scenic Overlook, and skiing at Mt. Rose.
The town’s 8,620 residents enjoy access to world-class skiing, water sports, and hiking trails, like Mt Rose Trailhead, Tahoe Meadows Ophir Creek Trailhead, and Tahoe East Shore Trail. Incline Village’s vibrant community life, combined with its scenic views, makes it a premier destination for those seeking luxury living in the heart of nature.
7. Minden
Mountain range: Sierra Nevada and the Carson Range
Average rent price: $2,625
Population: 3,160
Apartments for rent in Minden, NV
Houses for rent in Minden, NV
Homes for sale in Minden, NV
Minden is situated between the Sierra Nevada and the Carson Range, east of the Lake Tahoe area. Living in Minden, you’ll have easy access to ski resorts like Heavenly Mountain Resort and East Peak, alongside Lyon Peak and Pinyon Trailhead.
This small town is known for its quaint downtown area, community events, and easy access to outdoor recreation. You can learn more about the town’s history at places like the Dangberg Home Ranch Historic Park and the Carson Valley Museum. Minden’s location makes it a perfect spot for those who want to live in a smaller town but want easy access to nature.
8. Pahrump
Mountain range: Spring Mountains and the Desert Mountains
Average rent price: $1,553
Population: 37,330
Apartments for rent in Pahrump, NV
Houses for rent in Pahrump, NV
Homes for sale in Pahrump, NV
Pahrump sits near the Spring Mountains and the Desert Mountain and is a community where you’ll still find the spirit of the West. On the border with California, Pahrump is close to the famous Death Valley National Park. It’s also near spots like Ash Meadows National Wildlife Refuge, Charleston Peak, and Red Rock Canyon National Conservation Area, which are all great for exploring Nevada’s wilderness.
With a population of 37,330, Pahrump offers a mix of suburban and rural living. Pahrump’s wineries, golf courses, and proximity to Las Vegas make it a popular option for those seeking a balance between nightlife and nature.
9. Reno
Mountain range: Sierra Nevada
Average rent price: $1,932
Population: 246,400
Apartments for rent in Reno, NV
Houses for rent in Reno, NV
Homes for sale in Reno, NV
Reno, known as “The Biggest Little City in the World,” is surrounded by the breathtaking Sierra Nevada and the serene Washoe Mountains. You can find a variety of hiking trails and spots for winter sports, like Hunter Creek Trailhead, Mt Houghton, Washoe Lake, and Clark Mountain.
With a population of 246,400, Reno is a hub of culture, arts, and outdoor activities, offering something for everyone. From the vibrant Riverwalk District to the thrill of outdoor adventures in nearby mountains, Reno combines urban vibes with natural beauty. If you’re looking for a bigger city close to iconic natural landmarks like Lake Tahoe, consider moving to Reno.
10. Sparks
Mountain range: Sierra Nevada and the Virginia Range
Average rent price: $1,867
Population: 100,200
Apartments for rent in Sparks, NV
Houses for rent in Sparks, NV
Homes for sale in Sparks, NV
Sparks is a vibrant suburb of Reno, also situated in the Sierra Nevada and the Virginia Ranges. It offers a blend of suburban comfort and outdoor adventure. For example, you can visit The Sparks “S,” bike along the Tahoe Pyramid Bikeway, or check out Cottonwood Park along the Truckee River.
With a population of 100,200, Sparks is known for its friendly atmosphere, parks, and recreational areas. The city’s marina, events like the annual Rib Cook-Off, and proximity to Reno’s attractions make it a great place to live.
11. Spring Creek
Mountain range: Ruby Mountains
Average rent price: $2,070
Population: 13,460
Apartments for rent in Spring Creek, NV
Houses for rent in Spring Creek, NV
Homes for sale in Spring Creek, NV
Spring Creek, located near the majestic Ruby Mountains, is full of scenic beauty and outdoor recreational opportunities. This town, with a population of 13,460, is perfect for those who love nature, with activities such as hiking, fishing, and wildlife viewing readily available. Some popular places to enjoy the outdoors include South Fork State Recreation Area, Lamoille Canyon Scenic Byway, and Ruby Lake National Wildlife Refuge. Spring Creek’s sense of community and its peaceful, rural atmosphere make it a great place to live.
12. Virginia City
Mountain range: Sierra Nevada
Average rent price: $1,000
Population: 770
Apartments for rent in Virginia City, NV
Houses for rent in Virginia City, NV
Homes for sale in Virginia City, NV
Virginia City is a historic town set in the Sierra Nevada and near the Virginia Range. Near mountains like Mt. Davidson, Mt. Bullion, Emma Peak, and Mt. Grosh, there are plenty of hiking trails and viewpoints to see the surrounding area. It’s also close to historic landmarks like the Sutro Tunnel, the Chollar Mine, and the Mackay Mansion Museum.
With a population of just 770, this town offers a unique glimpse into the past, with its well-preserved 19th-century Victorian buildings and rich mining history. Today, Virginia City is a vibrant community, attracting visitors with its museums, antique shops, and ghost tours. It’s an intriguing place to live for those fascinated by history and the allure of the Old West.
Note, this list is not comprehensive of all the mountain towns in Nevada. Town must have average rental data to be included on the list. Average rental data from Rent.com during September 2024. Population data sourced from the United States Census Bureau.
The closest I got to Halloween as a child was through classic movies like “Hocus Pocus” and “Casper.” That’s because I grew up in a religious household that chose not to celebrate Halloween.
Since I didn’t embark on the adventure of costume wearing as a child, it’s become a first-generation tradition in my household. Although fun, my third year in, I’m realizing how expensive this costume business can become.
Americans are expected to spend about $104 on Halloween this year, according to the National Retail Federation. If you’ll be participating in spooky season festivities, keep reading for a few mom-approved tips for how to save on costumes.
Set a budget to avoid spooky spending
If you’re anything like me, when it comes to spending on creative ventures, you become a kid in a candy store. However, splurging on a Halloween costume can be counterproductive to your financial goals.
Karen Heffren, a mom from Tucson, Arizona, and owner of the DIY blog Desert Chica, says she’s always been frugal, and that’s no different on Halloween.
“When it came to costumes, I didn’t want to spend $25 on a costume that wasn’t great and my kid would wear for an hour,” she says.
Consider setting a hard limit on how much you’ll spend. If you’re unsure how to calculate what you can afford this year, remember your costume money should ideally come from your discretionary income. That’s what’s left after you meet all of your core financial needs.
If you use the 50/30/20 budgeting system, costume money should come out of your 30% wants category, while 50% goes to needs and 20% to debt and savings.
Push your creative boundaries with a DIY costume
You’d be surprised how much you can save by making a Halloween costume using items around the house. Heffren was first inspired to DIY Halloween costumes about 17 years ago when her family became a single-income household. She shares DIY costume ideas on her blog to help people who may need inspiration and says you don’t have to be a super crafter to use this option.
“You just have to be able to think about what skills you have, and then just modify your ideas to make it work,” she says.
Inspired by my research and interviews for this article, I plan to be Whitney Houston this year and have all the items I need at home already. I’ll use a black leather jacket, big hair, red lipstick, a white shirt and leggings. There are multiple resources you can consult for DIY costume research, such as Pinterest, YouTube, Instagram, blogs and TikTok.
It’s also important to keep track of your DIY costume spending along the way so it doesn’t end up costing significantly more than a ready-made costume. If it does cost more, the extra expense may be worthwhile if the costume can be repurposed, which we’ll discuss more below.
Choose costumes that can be repurposed
Kalia Johnson, a content creator and mother in Dallas, made a grape costume for her son last year, and it’s the gift that keeps on giving because most of the items are still functional. The inspiration for the costume came from her son playfully putting balls from his ball pit into his onesie.
“The reason why I like this costume is because we still use all the items that we used for the costume,” she says. “He still uses ball pit balls. He still uses the bamboo sleeper as pajamas. He still uses the beanie if it [is] cold outside.”
The only items Johnson bought were the leaves she used, and they cost a couple of bucks.
Heffren, too, is a firm believer in using items that can be repurposed. She uses hoodies as an example.
One of her most memorable costumes was Olaf from the movie “Frozen,” and she used a hoodie and felt fabric to make it. Another example? Heffren says you can use a white button-down shirt, cardboard, an angry face printout, black slacks and some felt material to create the Anger character from the “Inside Out” movies.
Heffren recommends using duct tape or sewing items onto the costume base so you can easily repurpose it or fix mistakes. I plan to take this advice and use a hoodie and felt material to build my son’s Sonic costume this year.
Consider using pre-loved items
Using secondhand items for a Halloween costume is another way to save money.
Some places where you can buy a used costume or items for a DIY piece include Facebook Marketplace, eBay, OfferUp or your local thrift store. Keep in mind that one of the challenges with getting a ready-made costume may be finding one that you like and that comes in your size. If you want to coordinate costumes with loved ones, going this route could be difficult.
Heffren says people should remember that costumes don’t have to be perfect. That means you don’t have to coordinate your entire family’s costumes, nor do you need to turn costumes into a grand and expensive DIY project.
“I think you just have to set realistic expectations and it’s just for fun, you know? It’s not Picasso, right?”
In Portsmouth, Rhode Island, a historic farm that’s being touted as “one of the last remaining pieces of the original Vanderbilt estate” is now headed for auction.
Known as Sandy Point Farm, the 6.15-acre property was built at the end of the 19th century for Reginald Claypoole Vanderbilt — the father of Gloria Vanderbilt and maternal grandfather of Anderson Cooper.
An avid equestrian, Vanderbilt spared no expense in building his sprawling Portsmouth estate, which once spanned an impressive 280 acres.
Now, the farm that was once a cornerstone of the prestigious Vanderbilt estate is being auctioned off, along with its 30,000+ square-foot stables and 15,000 square-foot indoor riding arena, via Sotheby’s Concierge Auctions.
Like Fancy Pants Homes’ content? Be sure to follow us on MSN
A piece of Rhode Island history is up for grabs
A well-known landmark to architectural enthusiasts and historians alike, the iconic Sandy Point Farm in Portsmouth, Rhode Island, was once the cornerstone of the Vanderbilt estate.
With its architectural pedigree, extensive equestrian facilities, and 6.15 acres of pastoral beauty, the property is headed for auction — with starting bids expected to run between $1 million and $2 million.
A Gilded Age equestrian farm spanning over 6 acres
The property consists of 6.15 acres of land and is anchored by the massive Sandy Point Stables, a 30,000-square-foot structure that lives on as a majestic example of Gilded Age architecture.
The structure was built in the Colonial Revival style by renowned architect A.S. Walker of Walker & Gillette, one of the leading architectural firms of the twentieth century.
With a 24-stable, massive indoor riding arena
The 30,000+ square-foot stables feature 24 stalls, a spectacular 15,000 square-foot indoor riding arena, and multiple cupolas crowning the impressive 60-foot-high riding ring.
Until recently (in 2023), the stables have been operated as a Hunter Jumper boarding, lesson, and show barn. Accommodating all ages from summer camp, children, and ponies, to intercollegiate programs and serious competitors at the National level, Sandy Point also hosted annual shows, drawing in hundreds of riders from beyond Aquidneck Island.
Built for a Vanderbilt at the height of his wealth
The equestrian estate was built by Reginald (Reggie) Claypoole Vanderbilt in the 1800s and completed in 1902. Vanderbilt was the great-grandson of Commodore Cornelius Vanderbilt and an avid equestrian.
He primarily built the stable complex for his show horses and country houses (the barn is the last remaining structure), and the property has been run as a barn and stables for show horses continuously from 1902 to 2023.
He passed away in 1925 at the age of 45, on his cherished horse farm, leaving behind two daughters — Cathleen and Gloria Vanderbilt, the latter famously known as the mother of CNN anchor Anderson Cooper.
Originally part of the massive 280-acre Vanderbilt estate
A fully operational and thriving equestrian center for 120 years, Sandy Point Farm and its stables were originally part of the sprawling 280-acre complex that stretched from East Main Rd. (Rte. 138) to the Sakonnet River.
Now, Sandy Point Farm lives on as one of the largest remaining stables from Newport’s Gilded Age and one of the oldest indoor arenas in the country.
There are 5 apartments on site
While it’s primarily an equestrian farm and not necessarily a family home, Sandy Point Farm does have 5 apartments with a total of 8 bedrooms, 5 full, and 1 half bath.
Four units are located on the North side, with Reggie Vanderbilt’s former lounge and guest quarters on the South side. The latter was reconfigured into a home that preserved most of the original details, including moldings, floor-to-ceiling woodwork, and built-ins, per the farm’s website.
Reggie Vanderbilt’s studio has been operated as a sound studio in recent years
For the past 40 years, Reginald Vanderbilt’s former lounge room within the stables has been home to Stable Sound Studio, considered to be the longest-operating recording studio in all of New England.
The Studio is recognized by regional and world-renowned musicians alike for its role as a vital incubator of jazz, blues, folk/traditional, and alternative music.
A picturesque setting within proximity to Newport, Rhode Island
With its beautiful setting in coastal Portsmouth, Rhode Island, the farm is a short drive from historic Newport, where other prominent Vanderbilt mansions are located.
Set on the picturesque shores of Aquidneck Island, Portsmouth offers world-class sailing, equestrian sports, and nearby golf courses, including the acclaimed Newport National Golf Club.
Bidding starts on October 17
Ready for the next chapter in its long history, Sandy Point Farm is now heading to auction, with Sotheby’s Concierge Auctions brokering the sale. Bidding opens on October 17 and closes on October 31, with starting bids expected to be between $1 million and $2 million.
More stories
The Breakers mansion in Newport, the Vanderbilt summer estate
The Marble House in Newport, Rhode Island: the Gilded Age mansion that started it all
The real Conjuring house in Rhode Island and its 300-year history
Founded in San Francisco in 2016, Raise launched a fully digital real estate management platform. Raise’s co-founder and CEO, Justin Bedecarre, will take on the role of head of Americas leasing innovation at JLL, overseeing Raise’s integration into JLL’s US leasing operations. Read next: Fed rate cut brings fresh optimism to commercial real estate sector … [Read more…]
Looking for the best ways to sell a car? There are so many methods to selling your car such as selling privately, going through an online platform, or selling to a local car dealership. Each method of selling a car has its benefits and drawbacks. Selling a car can feel overwhelming, especially with all the…
Looking for the best ways to sell a car?
There are so many methods to selling your car such as selling privately, going through an online platform, or selling to a local car dealership. Each method of selling a car has its benefits and drawbacks.
Selling a car can feel overwhelming, especially with all the different ways to do it.
When I had to sell my own car, I wasn’t sure whether to go the easy route by trading it in or put in more effort for a higher price with a private sale. There are pros and cons to each option, and it really comes down to what matters most to you—speed or getting the best price.
In this guide, I’ll go over some of the best methods to help you figure out the right approach for selling your car. Whether you want something quick or you’re aiming for top dollar, there’s a method for selling your stuff here for you!
Best Ways To Sell A Car
Below is a list of the best ways to sell a car.
Recommended reading: How To Get A Free Car – 11 Places For Those In Need
1. Share your car for sale on Facebook
One of the best places to sell your car is via Facebook Marketplace. Facebook Marketplace has a huge audience and is incredibly user-friendly, making it easy to sell just about anything on the platform.
When listing your car on Facebook Marketplace, it’s important to include details like:
Make, model, and year
Mileage
Condition
Vehicle history (clean title, any accidents)
Price
Photos
Any special features (heated seats, sunroof, backup camera)
Maintenance records (mention if you have consistent records of maintenance)
Reason for selling
Facebook Marketplace has zero listing fees and allows you to reach potential buyers in your area immediately.
However, there are drawbacks to Facebook Marketplace, including potential scams, lowball offers, and the time to communicate back and forth with potential buyers who may not be serious inquirers.
2. Trade in your car to a dealership
Trading in your car to a car dealer is one of the easiest ways to get rid of an old vehicle, but you must be willing to buy another car.
This process is easy (I’ve done it myself) and begins with the dealership appraising your car. This includes assessing the condition of your car and giving you a trade-in value of your vehicle based on market demand, mileage, and vehicle history.
If you decide to accept the offer, the trade-in value is applied to the new car you’re buying. However, there’s a major drawback in trading in a vehicle because car dealerships tend to pay way less than what you would get from a private sale.
3. Sell your car to a dealership
If you’re not in the market to buy a new car, you can instead sell your car to a dealership.
These days, dealerships are actively looking for popular cars and will often make you an offer. My sister once got an instant cash offer from a dealership while her car was just parked at a store! She’s also received offers through email from dealerships, and this was for an ordinary car!
This way of selling a car is easy and fast because car dealerships are buying used cars from people all the time. To get started, the car dealership will perform an appraisal. The dealership handles everything including paperwork, title transfer, and payment.
The benefit of selling your car to a dealership is that you don’t have to deal with private buyers and your car will likely sell quickly. However, similar with trading in a car to a dealership, you won’t get nearly as much money as you could with a private sale.
4. Sell to Cars.com
Cars.com is a site specifically for buying and selling vehicles. This platform is beneficial to use because you’re posting your car on a site where people are actively searching for vehicles to purchase.
To get started, you’ll want to include important information in your car listing, such as the make, model, year, mileage, condition, and any other special things the buyer should know. You’ll want to add high-quality, well-lit photos, and make sure to note any dents or scratches the potential buyer should know about.
Cars.com even has a pricing tool to help you figure out a price to list your car. You’ll be in charge of communicating with potential buyers, answering questions, and the final sale process. However, this effort can be well worth it as you’ll get a much better price versus if you were to sell it to a car dealership.
5. Sell to Carvana
Carvana is well known for delivering cars straight to your house, but did you know you can also sell your car on the platform? Carvana makes it super easy and convenient to sell your vehicle on their website.
To sell your car to Carvana, you’ll go to the sell/trade link at the top of Carvana’s website. This is where you’ll start the process of answering questions about your vehicle. You’ll receive an instant offer for your vehicle based on the information you give Carvana. If you accept the offer, Carvana will schedule a pickup time to get your car. They’ll do a quick on-site review of your car to make sure you answered the questions truthfully and then pay you on the spot.
While Carvana’s offer may be lower than what you’d get from a private sale, this can be a good option if you want to get rid of your vehicle quickly.
6. Sell on eBay
A popular way people sell cars is by creating an ad on eBay.
This site has an eBay Motors section that lets you create a listing for your car. You can choose auction-style, where people bid on your car, or a fixed-price option if you have a specific price you want to sell your car at.
I have a family member who has sold several cars on eBay, so I know this is possible!
7. Sell to CarMax
CarMax is a quick and easy way to sell a car because of its easy process.
You can take your car to a CarMax location, where they will do a no-obligation appraisal. The CarMax team will inspect your vehicle and give you a written offer to you within seven days of performing the appraisal.
If you decide to accept the offer, CarMax handles all of the paperwork and pays you on the spot. Again, you probably won’t make as much as you would if you went with a private sale, but CarMax has the benefits of speed, ease, and certainty of the transaction going through. Plus, you won’t have to worry about dealing with online scammers.
8. List your car on Craigslist
Craigslist has been a popular method of selling cars for a long time. The site is free and easy to use, and it takes less than ten minutes to create a listing with your asking price.
When creating your car listing, include important details like make, model, year, mileage, condition, and any unique features (like any additions or changes you may have made). You’ll want to include high-quality photos taken from different angles, including the interior and exterior. Then, set the price for your vehicle and include if this price is firm or negotiable.
Most importantly, always follow your gut when communicating with people on Craigslist. The platform is great for selling stuff but can bring scammy people who are trying to steal personal information or take your money. Selling your car private party to a car buyer can be worth it, you just want to be safe!
9. List your car on Autotrader
Autotrader is a site where you can buy new and used cars, list your car to sell, and get an instant offer from nearby car dealerships.
It costs $49 to publish a car listing on Autotrader and KBB.com (Kelley Blue Book). Though there’s a cost to list your vehicle, there are benefits to this including getting a free vehicle history report (which can increase the odds of selling your vehicle).
Once you find a buyer on Autotrader, the buyer pays online and Autotrader transfers the funds to you securely for as low as 0.99% of the selling price.
Frequently Asked Questions
Here are the most frequently asked questions about the best ways to sell a car.
What is the best place to sell my car online?
The best place to sell your car online depends on how fast you want to sell your car or if you’re prioritizing making the highest profit.
If you’re in a rush to sell your vehicle and want to get it off your hands ASAP, you may want to try selling the car to a car dealership, CarMax, or Carvana. However, if you have the time and you’re not in a rush to get the car off your hands, you may want to spend the extra time and effort to sell your car privately so that you can make more money.
What is the fastest way to sell a car privately?
If your goal is to sell your car as fast as possible privately, follow these tips:
Set a competitive price and research to see what similar cars are listed for
Thoroughly clean the car and maybe even get it professionally detailed
Have all paperwork necessary, including title, maintenance records, bill of sale
Create a detailed listing, highlighting any special features or recent maintenance
List your car on multiple platforms like Craigslist, Facebook Marketplace, and Autotrader
Have good communication with potential buyers and respond to their questions
Following all of these tips will help you sell your car quickly.
Who pays the most to sell my car?
If you’re trying to get the most profit out of selling your car, stay away from car dealerships and instead sell your car privately. This is because car dealerships need to make money from selling your vehicle, so they’re going to give you much less than what you could potentially get if you sold it privately.
To sell your car privately, you may want to try listing your vehicle on platforms like Facebook Marketplace, Autotrader, and Craigslist. These platforms will help you reach a wide audience and get you talking to interested buyers.
What is the best platform to sell a car?
The best platform to sell a car depends on your specific needs. Platforms like Carvana and Autotrader make it easy and convenient to get rid of your car quickly, whereas listing your car on Craigslist and Facebook Marketplace can take a lot longer.
What is the best form of payment when selling a car?
The best form of payment when selling a car is the safest form of payment. The best form of payment when selling a car privately is usually cash. Sometimes people will take money orders or cashier’s checks, but there is a chance that they are fake.
Personal checks can bounce, whereas cashier’s checks are issued by the bank and guarantee that the money is available. You can also accompany the buyer to the bank to witness the check being issued for additional safety (this is what most people recommend if you do decide to take a check).
Should you accept cash when selling a car?
Accepting cash for your car can be convenient but it has many risks such as counterfeit bills, lack of paper trail which can be problematic for tax or legal reasons, and in case of dispute doing a cash transaction can be more challenging to prove.
If you decide to accept cash, make sure to meet in a safe space like a police station parking lot or at a bank. If the amount of cash is large, bring along a friend or family member as added safety. Bring a counterfeit detection pen or ask the buyer to get a cashier’s check to decrease the risk of a fraudulent transaction.
Is it safe to take a cashier’s check when selling a car?
It’s generally safe to take a cashier’s check when selling a car because these checks are issued by banks. These kinds of checks are guaranteed that the funds are available. However, I do recommend that you be aware that there are counterfeit cashier’s checks. You can verify the check by contacting the bank directly.
What paperwork do I need to sell my car privately?
When selling your car on your own, you will usually need the car’s title and a bill of sale (with the VIN listed on it). You might also need things like maintenance records and a release of liability. You may want to ask your local department of motor vehicles or your state DMV to see what else they recommend. I also recommend taking your license plates off your car when it is sold.
Best Ways To Sell A Car – Summary
I hope you enjoyed my article on the best ways to sell a car.
There are many ways to sell a car, and the method you choose to take depends on how fast you want to sell your car.
Some people don’t want to spend any time or effort selling a car and would rather get rid of it ASAP, while others want to take the extra effort to make the most profit possible.
Each method of selling a car has its benefits and drawbacks, so you’ll want to think about that when selling your vehicle. Luckily, there are many car-selling platforms, so you can choose your best option.
Have you sold a car before? What do you think is the best place to sell a car?
Missouri is a state full of unique attractions, rich history, and vibrant culture. Whether you’re looking to rent in St. Louis or searching for an apartment in Kansas City, Missouri has something to offer everyone. Living in Missouri means being surrounded by beautiful landscapes, friendly communities, and many interesting places to explore. Let’s dive into some fun facts about Missouri that make it a fascinating place to call home.
1. Missouri is home to the Gateway Arch
The Gateway Arch in St. Louis is the tallest arch in the world. It stands at 630 feet tall, symbolizing westward expansion. You can take a tram ride to the top for stunning city views. The arch is part of the Jefferson National Expansion Memorial. It’s one of the most iconic landmarks in Missouri.
2. Missouri has more than 6,000 known caves
Missouri is often called the “Cave State” due to its many caves. The state has over 6,000 documented caves to explore. Some popular ones include Meramec Caverns and Fantastic Caverns. Tourists can enjoy guided tours through these natural wonders. Missouri’s cave systems are full of history and beauty.
3. Kansas City has more fountains than any other city except Rome
Kansas City is often called the “City of Fountains.” The city boasts over 200 beautiful fountains. These fountains vary in size and design, enhancing the cityscape. Many have historical significance or commemorate important events. The fountains make Kansas City a beautiful place to visit and live.
4. The Lake of the Ozarks has more shoreline than California
The Lake of the Ozarks is a massive man-made reservoir in central Missouri. It has more shoreline than the entire coast of California. The lake is a popular destination for boating, fishing, and water sports. It offers numerous resorts, campgrounds, and attractions. The scenic views make it a favorite among both tourists and locals.
5. The Missouri Botanical Garden is the oldest in the United States
The Missouri Botanical Garden was founded in 1859 by Henry Shaw. It’s the oldest continuously operating botanical garden in the U.S. The garden features over 79 acres of beautiful landscapes and exhibits. It is renowned for its Japanese garden and Climatron greenhouse. It’s a peaceful oasis in the heart of St. Louis.
6. St. Louis is home to the first-ever ice cream cone
The ice cream cone was invented in St. Louis during the 1904 World’s Fair. A waffle vendor teamed up with an ice cream seller. Together, they created a delicious way to eat ice cream on the go. It quickly became a favorite treat across the country. St. Louis continues to be a place for sweet treats and culinary history.
7. Missouri has a rich jazz music scene
Kansas City is famous for its contributions to jazz music. The city played a major role in developing the jazz style during the 1930s. Today, Kansas City hosts many jazz clubs and festivals. The American Jazz Museum is located here as well. Jazz remains an integral part of Missouri’s culture.
8. The state animal is the Missouri mule
The Missouri mule was designated as the state animal in 1995. Mules were vital for farming and transportation in the 19th century. They are known for their strength and endurance. Missouri mules were also used by the U.S. Army.
9. Missouri has a town called Tightwad
Tightwad, MO is a small town with a quirky name. The name reportedly came from a stingy store owner in the early 1900s. The town’s name attracts curious visitors each year. There’s even a Tightwad Bank located there. It’s a fun reminder of Missouri’s sense of humor.
10. Branson is a top tourist destination
Branson, MO is known for its family-friendly entertainment. It has more than 50 theaters hosting music shows, magic acts, and more. Branson also offers attractions like Silver Dollar City, a popular theme park. The town is a hub for country music and fun activities. It’s a great place for a weekend getaway.
11. Mark Twain was born in Missouri
Mark Twain, the famous author, was born in Florida, MO in 1835. His childhood home in Hannibal inspired many of his stories. The town is now a popular tourist destination, celebrating Twain’s legacy. The Mark Twain Boyhood Home & Museum offers insights into his life. Twain’s humor and storytelling have left a lasting impact on Missouri.
12. Missouri is the only state with an official state grape
The Norton grape is the official state grape of Missouri. Norton is used to produce high-quality red wines. Missouri has a thriving wine industry, with vineyards across the state. The state’s wine country is especially popular for tours and tastings. Missouri wines are known for their rich flavors and quality.
13. Springfield is the “Birthplace of Route 66”
Route 66, also known as the “Main Street of America,” was established in Springfield. The famous highway connected Chicago to Los Angeles. Springfield celebrates its Route 66 history with festivals and events. The city has a Route 66 Car Museum showcasing vintage vehicles.
14. Missouri has a unique state dinosaur
The state dinosaur of Missouri is the Hypsibema missouriensis. It was a duck-billed dinosaur discovered in Bollinger County. The dinosaur lived during the Late Cretaceous period. It is a symbol of Missouri’s fascinating prehistoric past. Children and adults alike enjoy learning about it at museums.
15. The world’s largest rocking chair is in Missouri
The world’s largest rocking chair is located in Cuba, MO. It stands 42 feet tall and was built in 2008. It’s no longer certified as a functioning rocking chair due to its size. However, it remains a fun roadside attraction for travelers. It’s one of many quirky landmarks found throughout Missouri.
Some Chase Sapphire Reserve cardholders have received an e-mail from Chase informing them that the timing of their travel credit will be changing. For example:
Like in years past your $300 annual travel credit will reset in December and you will start to receive statement credits for travel purchases.
On December 30, 2024, any unused portion of your $300 credit will be applied to your account as a statement credit.
Starting in 2025, your $300 travel credit will then reset annually on <card anniversary date> and you will start receiving statement credits up to $300 for your travel purchases.
All other rewards program terms continue to apply.
If you’ve applied since May 21, 2017 this will not affect you at all as you already receive the credit based on your cardmember year rather than calendar year. People who applied before that date had a grandfathered credit and will be in line with all other cardholders.
This change is only for grandfathered CSR members who get the travel credit based on the calendar year. Those who signed up since May 21, 2017, get the credit based on the cardmember year. For them, there are no changes at all.
The trade-in value of a truck is the amount a dealer is willing to give you to put toward the purchase of a new vehicle. Cars depreciate in value the moment you drive them off the lot, so over time, trade-in values tend to decrease as well. They are also impacted by a variety of factors, such as make and model, age, condition, and mileage.
Here’s a look at what your truck might be worth over the first five years of ownership, and the factors that impact that value.
Average Trade-In Value of a Truck After 5 Years of Ownership
The trade-in value of a truck is based on its market value, which is the amount a person is willing to pay based on the truck’s make, model, age, condition, etc. However, when saving up for a new car, it’s important to realize that what a dealer might offer for a trade-in is likely less than the market value. That’s because when the dealer eventually sells your vehicle, they will need to turn a profit. And their profit will be the difference between market value and trade-in value.
Cars, trucks, and other vehicles depreciate, meaning their market value decreases each year. Luckily for truck owners, trucks tend to depreciate more slowly than cars and SUVs.
For example, the average five-year depreciation of Toyota Tacoma, a midsize pick-up truck, is 20.4%, according to a 2024 study by iSeeCars. Average five-year depreciation for Ford F-150, a full-size pick-up truck, is 36.0%. Compare that to an average five-year depreciation rate of 38.8% for cars, 42.9% for midsize SUVs, and 49.1% for electric vehicles.
Depreciation is also an important factor to understand when leasing a vehicle, as your lease payment will cover the cost of depreciation to the lessor.
Supply chain issues, component shortgages, and increased demand for vehicles has driven up the price of new and used cars and trucks in recent years. This has had an impact on how fast vehicles depreciate. In 2024, the average five-year depreciation was 38.8%, compared to 49.1% in 2020.
Check your score with SoFi
Track your credit score for free. Sign up and get $10.*
Factors That Impact Truck Value Over Time
As we mentioned above, the moment your car leaves the lot, it starts to lose value. (For that reason, savvy consumers often believe it’s better to buy a used car over a new one.) What happens to the car will have a big impact on value as well, from wear and tear to how much it’s driven and its accident history. As a result, depreciation and trade-in values will vary from vehicle to vehicle.
Age and Condition
Age and condition are two of the biggest factors that will affect your truck’s trade-in value. The older a vehicle is, the less value it tends to maintain (unless it’s a desirable vintage vehicle). The reason: It’s assumed that the older a car is, the more it will have been driven and the more wear and tear it will have experienced.
All sorts of factors big and small can go into determining condition, from dents and scratches to major repairs made after an accident. Only cars in pristine condition will fetch top market values and trade-in prices.
Mileage
How much a truck has been driven will also have an impact on trade-in value. The more you drive your truck, the more wear and tear you may be putting on the engine and other parts. As a result, trucks with lower numbers on their odometers tend to command.
Make and Model
A truck’s make and model refer to the company that makes the vehicle and the specific product, respectively. For example, Ford is a make while the F-150 is a model of truck. Some makes and models are more popular than others, which can increase trade-in value. This may be for a variety of reasons. For example, some may get better gas mileage or have roomier interiors that make them more appealing to used truck buyers.
Recommended: What Should Your Average Car Payment Be?
Trim Level
The trim level of a vehicle refers to the optional features it has. For example, higher trim levels may offer more equipment or luxury materials, such as leather seats. Automotive technology, such as back-up cameras and navigation systems, are in high demand. Higher trim levels can translate into higher trade-in values.
Accident History
Even if a car shows no outward signs of damage after an accident, vehicles that have been involved in a major accident or a natural disaster, such as a flood, will usually fetch lower trade-in values.
According to Carfax, any accident will remove $500 from the value of a car, on average, while a major accident can cost as much as $2,100 in lost value.
Local Market Demand
Where you resell your truck can have an affect on its market value. For example, if you live in an urban area, there may be less local demand for trucks than if you live in a suburban or rural location.
Geography can have other impacts on the value of your truck. For example, a truck that’s been through a number of harsh Northeast winters might be in worse condition than one from a warmer, dryer climate.
Increase Your Truck’s Trade-In Value
Bring your truck up to the best condition to increase its trade-in value. Fix whatever damage you can, such as scratches, chips in the windshield, or minor engine repairs. Have your truck cleaned and detailed before an appraisal by a dealer. A money tracker app can help you carve out room in your budget for any repairs.
It’s worth noting that your credit score will also impact the deal you get on your new car. That’s because a higher credit score gets buyers a lower interest rate on car loans.
Recommended: Does Net Worth Include Home Equity?
The Takeaway
How much a truck is worth is calculated based on many factors, including make, model, age, mileage, and condition. The trade-in value will be less than the market value. Understanding your vehicle’s potential trade-in value is an important consideration when budgeting and saving for the purchase of a new or used truck. If you think you may trade it in for a newer model in the future, research vehicles that are likely to hold their value better.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
What is the trade-in value of a truck?
The trade-in value of a truck is how much money a dealer is willing to give you toward the purchase of a new vehicle in exchange for your old one. Because dealers want to turn a profit when they resell your vehicle, trade-in values tend to be lower than fair market values.
How is trade-in value calculated?
Your truck’s trade-in value is based on a variety of factors, including make, model, age, mileage, and condition of the vehicle. Your truck’s value will depreciate every year, until it no longer has a resale value.
How do I find the fair trade value of my car?
A number of online tools can help you find the fair trade-in value of your car. For example, Kelley Blue Book and Edmunds offer very good online tools. Enter your vehicle identification number, license plate number, or the year, make, model, and mileage of your truck to get an idea of what it may be worth.
Photo credit: iStock/freemixer
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.