Online services possessing a personal car for yourself is a dream many aren’t able to fulfill. Defining luxury, well-being, and renting out comfort and confidence. A car is truly a possession anyone these days would like to have.
Be it the young passionate traveler or the old couple who would like to roam about the city on a weekend, a car is a must-have for all these days. And hence, selling a car becomes equally important.
Not to mention, after one starts a family, a car becomes a daily necessity for many. Be it traveling to the office, picking kids from school, or taking the spouse on either a romantic dinner or even shopping – the car is the perfect companion for each of these memories. Yet, our desire to keep updating on the newer versions of everything suggests that we are also likely to sell our old cars off.
- 1 How to Sell your Car?
- 1.1 1. Selling Your Old Car in Exchange For The New Car
- 1.2 2. Selling Your Car To A Car Dealership
- 1.3 3. Selling It Privately To Another Customer
- 1.4 4. Selling Your Car To Specialized Services
- 1.5 5. Selling Your Car To Car Pick Up Services
How to Sell your Car?
If you are one of those people who are looking forward to selling off their old car, either for a better exchange or just the cash, planning on exactly how to do that can turn out to be really difficult. Especially when you are a first-timer in this context, you will really need the best guidance and all the available options before you for in-depth analysis.
In reality, there is more than just one way of selling your car, and each of these ways varies from the other, as far as the ease of selling is concerned, the value you get in return as well as the convenience in terms of the entire process. Let us share with you some of the best ways in which you could sell your car, keeping all the above factors in mind.
1. Selling Your Old Car in Exchange For The New Car
This is by far the most common and easiest way to sell your car off with which you also get to avail of two benefits. Firstly, you are selling off the car you do not wish to keep any longer. Secondly, you are purchasing a new car model, as per your choices.
The activity of exchange makes the process of selling seem much easier or, say, integrated. You save the time and energy of having to undertake the two processes differently. Besides, you do not have to look up separate places for the sale and the purchase processes.
Is This Method the Best For Me?
Well, although everything seems just fine on the surface, in reality, you are actually at a loss. This is because the value you get for selling your car in exchange is usually lesser than what you could avail of for direct deals.
The reason is simple yet something many people are unaware of – the dealer you sell your car in the exchange offer to will get a lesser resale value of the car, if he pays you a higher price for it.
Think of it this way – your and the dealer’s gains out of the deal are inversely proportional to each other in this bargain. Besides, the dealer might happen to convince you into paying unnecessary charges in lieu of buying the new car from him in exchange for your old one.
In a nutshell, although very convenient and time-saving, the ‘trade-in and sell your car’ method might lead you to lose out on a few more bucks than necessary.
2. Selling Your Car To A Car Dealership
Instead of exchanging your car with the dealer in return for buying a new car from him, you can actually simply sell off your car to the same dealer. You have the option of selling your car at a value both you and the dealer can come to a bargain at, without the hassle of having to let it be a down payment for the car you purchase.
At the same time, if you are looking to buy a new car as well, you have the independent option of looking around at other showrooms, dealers, or even online for the best option for you. Besides, you have ample time in your hands to invest your resources before buying a new car altogether.
Is This Method The Best For Me?
If you are someone who does not have too much time to invest in the process of selling an old car, then this method is probably not for you. This is because you will need to run after a lot of dealers, visit them or talk to them separately, bargain for the value they are ready to give for your car, and so on.
Eventually, when you are able to compare the prices offered to you, you take a call and go for the dealer you find most suitable. All of these processes require time and energy. If you have someone to assist you with the matter or an acquaintance that can help ease things for you, the situation is different. Else, you really need to be able to give considerable time to the process.
Read more: Best ways to Rent a Car
3. Selling It Privately To Another Customer
Selling a car on your own, without the involvement of any dealers or any middleman is the best way to make maximum profits on car selling. It is possible to avail of benefits as high as the actual retail price for your car. The way in which you have used it and other criteria can actually affect how much you are paid for it eventually.
To begin with the process, you will have to advertise your sale through different media platforms. You could use anything that seems more widely spread, less time-consuming or affordable to you. There is the option of using print media, social media and even sharing information with people personally.
When you are actually making the transaction with the customer, there are a couple of things to make sure of. Firstly, you need to be sure of the fact that the payment process is transparent and valid, and so are all the identification and verification documents for both parties.
You should refuse from accepting personal cheques, as there is a high probability of the cheques bouncing.
Is This Method For Me?
This way of selling your car can turn out to be the most time-consuming one on the list. You need to invest a lot of time waiting for the right people to respond to your advertisement. Followed by meeting the prospective clients and bargaining with them. You may find it difficult to come to terms with the prices being offered to you for the car, following which you might decide to wait a little more.
Secondly, there are chances of fraudulence in terms of payments, verification, identification, and so on in this method. There have been cases where people have accepted personal cheques that have bounced, and these cheques have been fraudulent.
In such cases, taking any legal actions becomes difficult as well, for you have no idea of the whereabouts of the criminal, as they have left only false information with you.
4. Selling Your Car To Specialized Services
There are services similar to US-based CarMax, most of whom are ready to accept cars in any condition. It is one of the most dependable facilities for the selling of cars and has been vouched for by several customers.
With the advent of social media and the growing power of the internet today, getting hold of such services is no big deal. They come equipped with their own websites, mobile applications, and great customer support for keeping you well-informed and well-received.
For example, let’s take CarMax. The user has the option of scheduling the appraisal of his or her car online and then taking their car to the store location. When the car is taken to the store, the CarMax team members conduct an appraisal within, say, half an hour or so. This is followed by various formalities, such as filling up forms, making a written offer, and so on.
The offer validity by CarMax lasts for an entire week, during which you are free to try out other places and meet other dealers or prospective customers. It would be completed upon you to decide whether or not you will go for CarMax – after weighing out the different factors such as comparative prices being offered to you, trust quotient, ease and convenience, and so on.
Read More: Why You Should Never Lease A Car?
Is This Method For Me?
If after all your evaluation, you do pick CarMax. You find that the rest of the mechanism is pretty simple and hassle-free. You do not need to purchase a new car from CarMax in order to be able to sell your current car. Neither do you have to worry about rejection because of any harm to your car model, or because of it being too old.
With time, several such services have made their presence felt across the world, and some of them are doing quite well among the people. You can always conduct some customer feedback research to make sure that their experience with the site you choose was smooth and hassle-free, before proceeding to the next step.
By far, this was the cleanest, easiest, and least risky way of selling your car, wasn’t it? Yet, we will have to admit that such services do not guarantee the best prices in the market. You may not be receiving as much money as you would have if you sold your car privately to another customer, yet you do have an increased safety quotient.
Another factor takes time. Consider having your car value, no matter what the condition of the car is, within 30 minutes, and time of seven days offer as a buffer. At the end of the seven-day period, if you choose to go with the option, the facility has provided you with, you are handed a bank demand draft in no time. The car sale is done and dusted.
Therefore, if you are someone who shall weigh more on time and safety than money, this method is for you. Else, if you are not willing to agree to prices lower than what you could get, it would be better to seek out the rest of the ways described.
5. Selling Your Car To Car Pick Up Services
If you do not wish to go with the websites and online services that cater to purchasing your car. There are other such services that function on lower scales, say on the regional level. Such services usually advertise their services in local newspapers, pamphlets, or even through posters by the roadside.
Such services function more or less like the services mentioned above, except they do not have such an established name before-hand. This is why we advise going for this option if you are not left with any other.
The reasons are manifold – firstly, they offer very low prices for your car as compared to any other ways we have mentioned above. The motto of these services itself is to be able to get hold of cars at cheap rates. That is why you should prefer taking them as the last resort.