How to sell your car
Setting out to find your next car is an exciting time though you’d be forgiven for having a few questions when it comes to selling your current car. These questions don’t come any more fundamental than “what exactly is the best way to sell my car?”. In this article we’re going to tell you what your options are.
You have several options when it comes to selling your car. However, the first and most important thing to know is the value of your car. Ideally you should get a car valuation from a reputable source that analyses the whole market as it stands today. You need to keep in mind that how much you’ll get for your car very much depends on how you sell it and what condition it’s in. The prices you’ll see other cars being advertised at is not an exact science to base your own valuation on.
If the person who buys your car is a middle-man who wants to sell it on then they’ll have some work to do to get it ready for sale. This means that they’ll factor the cost of this into the amount they’ll offer you as well as leaving themselves a margin to make profit.
Once you have a good idea of your car’s value then the next step is to decide how to sell it. Plenty of people and businesses will only be too happy to take your car off of your hands but the main options are:
1. Sell it privately
2. Sell it to a dealer
3. Sell it to a car buying website
When you’re making your choice there are two key things that you’ll need to consider. Firstly, you need to decide how much you want to get for your car. Secondly, you need to work out how much time and effort you’re happy to put in to sell your car. Once you’ve decided where your priorities lie then you can decide which of these options suit you best.
1. Selling your car privately
Selling your car privately is likely to be the best way to make the most money. However, if you wish to advertise your car online then you need to think carefully before you chose which site to advertise it on. Check the website’s reputation, how many people use it and whether it specialises in selling cars. Selling your car privately means that you’ll need to have the time to response to enquiries and be available for viewings. You may also have to pay for the advert. It’s also worth about thinking about your next car early on to minimise any time you’ll spend without a car if you’re able to sell yours before your buy your next one.
2. Selling your car to a dealer
One way of getting around the potential problem of having no car whilst waiting to buy your next car is to part exchange your car with a dealer. There’s only one deal so it’s easier to synchronise the sale of your old car with the purchased of your new one. In addition to this you don’t have to deal with the number of potential buyers interested in your car. There are many misconceptions about selling to a dealer such as not getting a good price and having to negotiate but that doesn’t have to be the case. However, it’s probably true that you’ll get less money than if you sell the car yourself. As we’ve mentioned earlier in this article, it’s always best to get a valuation before your visit the dealer.
3. Using a car buying website
Finally, if speed is of the essence then you could consider a car buying website that offers to buy your car that day and give you some quick cash. These businesses want to make money by selling your car on for a profit so they are likely to offer you less than the market value. You may also have less room for negotiation than you would with a private buyer or a dealer. These websites will sell your car on to a dealer who will then sell it on to a consumer so there are more parties needed and they all want to take their cut. This is naturally reflected in the price you’ll get. Also, any deal you’re quoted online will be subject to an inspection of the car and you’ll also have to pay an admin fee that will further reduce the amount of money you get to take away.
In conclusion, no one of these selling options are right for everybody. However, by weighing up the pros and cons of each you can decide which of these ways is right for you. Whichever way you choose everything starts from the same point and that’s knowing exactly how much your car is worth.
