Selling your car privately will earn you more than you would when trading it in or selling to a dealer. This is one reason you must know your car value before you can start advertising it. The good thing is that there are different online tools that you can use to get a fair value.
The Different Ways to Sell a Car
There are numerous ways that you can choose to sell a car. You can sell it privately, sell it to a car dealer, on car selling websites, car auctions, or opt for part-exchange, and each option has its advantages and disadvantages.
However, the below options are only useful if your car is in working condition and has some registration. If the car has damage, is out of registration and will not pass without adequate repairs then you may need to consider a scrap car buy such as Top Cash for Scrap Cars. This is a last option, however.
To gain the most return for your car, read on.
Sell the Car Privately
If you are looking for a better price than what you get selling to a dealer, you may want to consider selling it privately. If you cannot sell it to friends, relatives, or colleagues, it would be a good idea to advertise it in the local dailies or on the internet. You can also put a ‘quick sale’ sign in the car. The only downside to this is that you may have to spend more money sourcing for a potential buyer, and it can be time-consuming.
Selling a Car at Auction
This requires some effort as there is an entry fee that you pay and a reserve price that you set. Besides this, it’s a hassle-free way to sell a car. There are live auctions where you take your car physically and there are internet ones. Both work the same where there are bidders, and the winning one will pay for the car instantly. Since the auctions are hosted by companies, you pay a certain percentage once the car is bought.
Sell the Car through Part-Exchange
If you are looking for a new car or you want to upgrade, you can opt to sell the existing one through part-exchange. This is by trading it in from a dealer. The beauty of this option is you do not stress over where to get buyers from, or how much it will cost you to advertise. The only downside to this option is that the price is relatively lower than when you sell the car to an individual.
As you sell the car, make sure that there is no outstanding financing and you are clear about its details. It is advisable to sell the car when it’s still running as you get more cash than you would when it’s not. Consider selling it at auctions, privately and in part-exchange if you want a new car.