Selling a car isn’t as simple as handing over the keys to the new owner. It’s a lengthy, complicated process, which if not planned properly, can also become frustrating. There’s not one but several ways to sell your car. The method you choose depends on your preferences and the type of deal you are offered.
To make sure you sell your vehicle successfully, it is important to ponder over all your options. Weigh the pros and cons associated with each one and find the most suitable one.
While there are tons of ways you can use to sell a car, the most significant ones are:
- Selling it to a private individual
- Leaving it at a dealership
- Sell it off to a car buying company online
- Consider auction
Choosing the best way to sell off your car
With all those options in hand, it is essential to use a method that you find the most suitable. The key is to compare and see which option offers you maximum benefits.
In most cases, selling your car to the car buying companies can lock you the best and most lucrative deal. You can expect to get a reasonable price with buying companies as compared to other online options. However, if you are able to market well, you can even have great luck with private buyers.
We have compiled all the information about your car selling options to help you make an informed decision.
There are two ways you can use the dealership method to sell your car: part-exchange and selling outright.
Part exchange is one of the most effective and simple ways to toss off your car for another one. If you are selling your existing car to buy a new one, doing it through a part-exchange dealership is an excellent method.
However, as enticing as this deal may appear, you might end up getting less for it as compared to a private sale or car buying companies. The only good part is that you avoid the hassle of finding a new car elsewhere and the expenses of advertising and dealing with test drives, checking and inquiries.
On the other hand, selling outright to a dealer is as simple as it sounds. There’s no trade or exchange involved. But your car is assessed on its trade value and condition, and thus, you don’t always get the best possible price.
This method can be both stressful and time-consuming, but you can always expect to get a better price. You need to have an effective strategy in place to make this method work for you. Here are a few things you can do:
- Advertise right. Sometimes, just a ‘for sale’ sign may not be enough. Analyze your potential buyers and their buying pattern and advertise accordingly. If you have an antique car, know what antique lovers would like to hear about the car. Also, instead of using a single platform, use multiple methods to advertise it – for example classified ads, for sale sign, ads on most visited vehicle selling websites, local papers, and even on social media.
- Add all the essential details in your advertisement, including the perfect description of your car. Do not exaggerate as your potential buyers will eventually be viewing and test-driving it before buying.
- Do not delay responding to emails or calls from potential buyers.
- Be prepared for test drives.
While auction can be relatively quick and hassle-free way to sell your car, getting a fair price is always in question. The likelihood of receiving even the reserve price of your vehicle is at a minimum. In short, you must compromise on the selling price by a significant percentage.
You will hardly find any private buyer in these auctions. They are often dominated by buyers in the motor trade. If you are lucky enough to find a private buyer, the situation could become more favorable.
However, if convenience is all you care about, online auctions can be the best way for you to sell your car. Don’t forget to incorporate the fee involved for participating in the auction.
Car buying companies
You can find a number of car buying companies claiming that they buy any car. The condition or functionality does not matter and even a vehicle you believed was only suitable for a junkyard can also be sold on such platforms.
Depending on the type and condition of your car, you can expect to get a good price on these platforms. Most of them include car valuation services, where you can use their free valuation tool to determine the value of the car. Later, physical inspections are carried out, which may have an impact on the determined car price.
Car buying companies make the selling procedure easy. It is a safe and quick way, and you can be satisfied with the price you get against your car.
Pick the right time to sell off your car
Timing can make a significant difference to your overall experience of selling a car. Once you have finalized the way you wish to sell your vehicle, these additional tips will help you find a more favorable deal.
- Pick winter to sell a four-wheel drive to secure better Poor driving conditions increase the demand for such vehicles.
- Summer or spring is great to toss off a convertible.
- Do not wait until your car ages if you plan to sell it. Don’t let the five-year or 60,000 barriers to cross if you want a high
- For part-exchanging, pick a month when dealerships are slow at business – for example December, January, March, and
Unlike private individuals or dealerships, you can still manage to sell your cars with car buying companies as they buy any type of car. So if your vehicle is becoming uneconomic to maintain or is reaching the end of its life, it’s better to consider this particular option instead of scrapping it.