You need to sell your car quickly and you need to get the best price for it. How do you get this right? Selling your car doesn’t have to be a stressful and difficult process – there are a few options open to you, each coming with some advantages and disadvantages. Have a look and choose the option that will give you the best value in your situation.
Some advantages are that as you don’t have the overheads of a dealer, you can afford to sell your car at a lower price than a dealer could market an equivalent vehicle. The downside is that, because you won’t be providing any type of warranty, a buyer will expect a cheaper price. You can however, mitigate this risk by getting a roadworthy certificate – this will provide some assurance to the buyer that the car that you are selling shouldn’t have any hidden issues or costs involved in transferring the vehicle into their name.
You will need to advertise your car for sale – some pointers here are to set a realistic price, and honestly represent the condition of the vehicle. Have a look at what similar cars (year, model, condition) are being offered for. If you have the time and funds, it may be worthwhile to arrange a professional detailing and repairing service for your car. At a minimum, make sure that the car is spotlessly clean.
Sell your car to a Dealer
This option will be much easier for you than going the private sale route. No advertising costs, no strangers coming to your home to view the car. If you plan to trade your car in on another car being sold by the dealer – you will be in a better position to negotiate for a better price.
The downside is that the dealer will need to make a profit – so you can expect a lower price than you may be able to achieve if you sell your car privately. Depending on your circumstances – the saving in time and trouble may well be worthwhile. Remember that once the car is in the hands of the dealer – anything that may go wrong with the vehicle is not your concern.
You can opt to put your car up for auction. Advertising and paperwork will be handled by the auction house. You can set a reserve price, and if you are lucky the car will fetch more on auction. If the reserve price is not met – the car will not be sold.
Use a broker
Using a broker can simplify the process. A broker will have an existing network of buyers to whom they can market your car. A broker will locate the best offer and present this to you – you can accept or not. This saves you the inconvenience of organising the sale yourself. A broker will charge a service fee – and you can ask for details of their charges up front before you make a decision to work with them. Even with the service fees charged by a broker, you could still get a better sales price than you might achieve with a private sale due to the exposure to serious buyers that a broker has, and the experience that they will bring to bear in negotiating the best possible sales price for you.
Carbiz can help you get the best price for your car, contact our team today!