What Options Do You Have When Selling A Car?

Share

So, you’ve finally decided that it’s time to sell your automobile. before selling a car Consider all your options before making a decision. Whatever route you choose to take, you’ll need to find its value through valuation initially. It’s important to understand the actual worth of your vehicle. The condition and mileage, as well as other factors, significantly influence the price. Keep in mind that these figures can provide the basis for beginning a deal, but you can always negotiate to find one that’s agreeable for both you and the buyer.

It’ll be easier to sell if your car is in demand.  Aim to get the most out of your old car. But if you find that you aren’t getting any solid offers, you can take simple steps to increase the resale value, such as regular maintenance, interior cleaning, carwash, etc.

If you’re thinking about selling your car, here are a few options that you should seriously think about.

Option 1: sell privately

Selling your car by yourself is typically the way to get the best price. The only drawback is that you’ll need to invest a good portion of your time, by dealing with each potential buyer individually, responding to their calls or emails, arranging viewings and test drives. And if the deal is finalized, you’ll have to handle all the paperwork, including sale deed, transfer documents, insurance policies, etc.

There are several methods of direct selling.

  • If you’re lucky, you may be able to find a buyer through word of mouth. Family, friends or work colleagues are the first place to start.
  • Putting up a “For Sale” in the window of the automobile or a store could draw clients from your vicinity.
  • To target an audience that doesn’t use the internet, you can use print media such as newspapers. Then again, there is a chance that not everyone who reads the paper looks through the classifieds. In the long run, this could prove to be expensive. With no pictures to back up your 4-line description, you may have to attempt the last choice.
  • To reach out to a broader audience, you should use online media as a large portion of the population regularly surfs the net. It’s easier for consumers to browse through multiple photos to analyze whether the automobile is what they are searching for. This saves your time as well as theirs. Plus, it’s cheaper. The chances of sealing a deal with this technique have dramatically increased as people are more connected to their gadgets, whether at work, at home or in transit.

Option 2: sell through a dealer

A hassle-free and worry-free method for both sellers and buyers are through dealerships. They are experienced to help you sell your car with ease. It’s as simple as heading down to the dealer or entering a couple of things online to get a quote for your vehicle. A few phone calls and some negotiations later, you’ve sold your wheels. With all the paperwork being handled by the dealer, you can either walk out with your payment or drive away with another vehicle. The only drawback is that you will get a lower price.

At the same time, it’s imperative to be cautious when signing any document. Always insist that all verbal agreements be written down. Also, don’t rush into a deal. Check with various dealers on the selling price before confirming one. That way you will know the value of your car and find the best price in the process.

Even here, you have several options to consider.

  • Sell your cars for cash. It’s an uncomplicated process, but the dealer may not be willing to negotiate the price much.
  • Or trade it in for another car. If you are thinking of buying another automobile, this seems to be the most straightforward option. Drive in with a used car, receive an appraisal, accept the offer, use it as a downpayment, and drive out with a new set of wheels. However, you could end up getting the worst price when compared to all other options.

Option 3: online buying sites

Many companies now cater to the needs of customers by facilitating the sale. They provide the entire set of services, including online valuations to car pickup from whatever location is suitable for you. Merely enter the cars details along with your contact information. They will reply with a quote, and if you agree with it, a representative will contact you for manual inspection. If faults are identified or the condition is below par, the figure may be considerably lower than the valuation. But when the deal is finalized, you will receive payment as soon as you hand over the keys.

Make sure that the company is legit. The last thing you want is to be entangled with fraudulent buyers.

Option 4: sell for scrap

If your car has been tremendously damaged due to an accident or it requires repairs that are expensive and not worth the time or money, you may consider selling your car for scrap. There are rules and regulations that you need to be aware of. Various companies will provide a quote for your vehicle, and even remove it from your premises. Just keep in mind that you won’t hit the jackpot with this option. It’s just an easy way to remove the eyesore standing in the driveway. If you think that it’s not worth the hassle at the end of the day, you could always give it away to organizations that will take your car and donate the money to charity.

Option 5: auction

This is a relatively quick way of selling, but there is no guarantee of the price. However, the chances are that you could end up getting more than a dealer is offering. There are a couple of ways to go about it.

  • Go to a motor trade auction. You’ll need to pay an entry fee, decide on a price for your car, and wait for the hammer to drop. If your automobile sells, you get paid immediately but the auction company minuses its commission- which could be up to 10% of the sale price.
  • Online auctions are another way. Anyone familiar with eBay has an idea of how this works. Just advertise your car on the site with a full description and photos. Then put the auction to ‘live.’ Keep in mind that there are some charges on insertion and final value fee.
Share