Should You Sell Your Car Privately Or Through A Dealership?*
When it comes to selling your car, you may be wondering what the best approach is and where you should list your car for sale.
Typically you have two choices for selling your car. One is to sell privately, which you can do my creating an online listing, putting a sign on your car or even listing in the local newspaper. The other way is to approach a car dealership and sell to them for what’s known as part exchange.
In this post, we’re going to give you some information regarding the pros and cons of both options. We will also include some tips on how to maximise your sales potential.
Private sale pros:
When you choose to sell your car privately, you’re going to have more control over the process compared to when you’re selling to a dealer. Privately you should be able to get a much better price, possibly up to an additional 15% in the overall price. You also get to choose where and who you sell to and can make deals if you wish.
Private sale cons:
As with anything you’re selling on your own, you’re going to come up against some challenges, and when it comes to selling your car privately that can include things like dealing with people who are wasting your time, who constantly want to haggle on price, or who have entirely unrealistic expectations. It can also take a good bit longer and be more of a hassle to sell your car privately.
Dealership sale pros:
When it comes to selling directly to a dealer, one of the main benefits is the convenience. It’s perfect if you’re looking for a quick sale or don’t want to deal with the hassle of creating listings and dealing with potential buyers. Dealerships will take care of everything for you, which is something that can definitely be appealing for many people. Also, if you’re selling for a part-exchange, which is where you trade in your car and part of it goes towards a new car, you can find you get a slightly better deal than if you just sold the car to the dealership outright.
Dealership sale cons:
Although selling to a dealership can be a great choice, the biggest downside is that you’ll likely walk away with far less than you would if you sold privately. So if you have a little more time to play with and are determined to get the best possible amount for your car, then perhaps holding off and waiting for a private sale could be the best option for you. However, if you’re in a rush and need a fast sale as well as value convenience over price, then going with a dealership is a good choice.
Tips for selling privately:
Advertise everywhere you can. You can list your car in your local newspaper, on your office bulletin board, tell your friends, put a sign on the car with some details, list it on classifieds websites and even share it on your social media pages. The more coverage you get for the fact that you’re selling your car, the more likely it will sell faster.
When it comes to selling your car, you need to make to give the full picture. This will attract the right buyers and are keep yourself on the right side of the law by not giving false information. If your car was involved in any accidents, even if they don’t affect the performance or safety of the car now, it’s important that you mention this when listing it for sale.
Give it a good clean
You wouldn’t want to buy a car that was messy inside and looked like it’s never been near a car wash. In order to boost your chances of attracting good buyers take some time to make the car look as new as possible. Give it a really good clean inside and out.
Have all your paperwork in order
To make things go easier and quicker gather it together before listing your car for sale, any potential buyers can then view it if they need to.
Don’t allow buyers to test-drive. It probably sounds like something from a spoof movie where someone comes to buy a car, asks to test drive it and then just disappears with the car. This is something that happens more often than you’d think, and if the person who stole your car is “smart” enough, it could be a complete hassle to get your car back.
Only accept secure payment. To avoid being scammed when selling your car, you should only accept payment via secure methods. For example, bank transfer, cash, or even PayPal. However, when using PayPal, it’s important to be aware of their buyer protection that sometimes results in buyers scamming people by claiming they never received the goods. Make sure you keep notes and copies of everything from receipts, communication and have evidence that they received the car.
Tips for selling to a dealer:
Shop around. Different dealers will offer different prices in exchange for your business.
Sell your number plate to make more money from your car. Whilst your number plate may just be a random alpha-numeric combination in your mind, it could mean something to someone else, and if you want to check it out, you can see just how much you could make by selling your personalised number plate.
Don’t be afraid to haggle. Many dealers will offer some flexibility in their prices, so don’t be shy when it comes to asking for more money. They know the value of a car and will be happy to work with you, so you both get the best deal possible.
*This is a collaboration post.