Okay, so you’ve fallen in love with a new car. Or perhaps there are a couple of other used cars being advertised that have caught your eye. Either way, it probably means you need to sell your existing car. We’ve put together a handy guide on how to sell a used car, and the differences between selling your car privately, and doing a car trade in. It’s also important to understand your used car value, in order to get the best deal.
The advantages of selling privately
If you’re looking to get as much profit as possible when you sell a used car, and you’re not in a hurry to close the deal, then a private sale might be more up your alley.
You will, however, have to do a fair bit of work, and spend quite a bit of time in order to get the best price. You will need to take care of any necessary repairs, take good photos of the vehicle and advertise in the right places, make appointments, handle the haggling over the price, and manage the payment arrangements and the paperwork, ensuring that the legalities are met.
It can take some time to sell a used car, so it’s also important that you’re not in a hurry, or chances are, you won’t get as much as you might have hoped for. While selling privately can be more profitable, it’s definitely not always a stress-free experience, and the actual selling part might not be your thing, so it’s important to weigh up both options.
The advantages of trading your car in
Predominantly, people turn to a car trade in either because they have fallen in love with a car in the dealership lot, or they want to cut out a lot of the fuss associated with selling a used car privately.
When you trade in your car, the dealership or car broker handles a lot of the paperwork. You’ll only need to have one conversation, and there’s likely to be less haggling involved with trading in your car than selling it privately.
This option is usually best if you’re time poor, and you don’t want to have to show the car to a number of people before selling.
Trading in your car is a plus in terms of security – you might not want strangers coming to your home. It’s also a safer option when it comes to money, as you can guarantee payment, rather than having cheques bounce, or other payment issues.
There are a number of people who can help you with a trade in, from dealers to car brokerage services such as New Cars Plus, for example. New Cars Plus can take care of everything from car repairs, and the photography, advertising and marketing, to the appointments, follow-up calls, buyer inspections, mechanical inspections, and negotiation and payment – which can help make the experience seamless and hassle-free.
The last thing to mention, no matter whether you’re looking to sell or trade in, is the importance of knowing your used car value. You’ll need to do some online research and look at what similar vehicles sell for. Be realistic about the condition of your car as well. There’s no point in asking top price if it’s travelled 200,000kms, for example, or it’s a basic model, without any frills.
Knowing to how to sell a used car isn’t an innate skill, so the more information you can arm yourself with, the better. Have your information and research on hand during the process, and you’ll be better prepared for a more successful outcome, whether that’s getting the best possible price in a private sale, or getting a good trade in deal on a brand spanking new car.
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