Take The Stress Out Of Selling Your Car
Selling your car can be time-consuming and stressful. It can be difficult to determine the best method from a financial point of view, and there’s also the question of how much time it may take. Then there’s the issue of timing; ensuring you can dispose of your present car in time to take delivery of its replacement or not leaving yourself without wheels by selling ‘too soon’. How can you go about it the right way?
Selling your car privately is seen as the best option to make the most money, but it’s more involved than other methods. A few pros and cons:
Pros
- You’ll likely fetch the best price compared to other methods.
- Best of both worlds: maximum price for your old car and discount (if available) off the new one.
Cons
- Time consuming: you’ll have to advertise and prepare the car for sale.
- Inconvenience: strangers visiting your home, timewasters, ensuring they’re insured to test drive your car, financial risks such as possible bouncing cheques and cash handling.
- Costs: preparing the car for sale such as repairing damage and valeting.
- Timing: you may sell ‘too soon’ and be without a car or unable to sell before your new one is ready.
There are various lower stress ways to go about effectively selling your car or managing car purchase.
Don’t buy one (e.g. leasing)
Leasing is an agreement where you pay so much a month to have the full use of a car of your choosing for a certain time span. At the end you hand the car back and can start another lease with a brand new car.
There’s no messy ‘crossover’ of one car with the other and no depreciation to worry about. You can choose from just about all types of car and tailor an agreement to suit your monthly budget (within reason).
Online sellers
You may recall the arguably annoying (but undeniably memorable) TV advertising jingles for certain online car buyers who buy cars for cash.
You simply enter your car registration number in the box on their website and they provide a price almost immediately. You’d have to take your car to their local depot to have the price confirmed after a physical inspection, but it can certainly reduce the hassle of selling your car.
Bear in mind they’ll be offering more or less ‘trade’ price so it may be lower than you could manage by selling privately.
Selling to a dealer
A dealer will only buy your car if they feel they can sell it at a profit unlike part exchanging (see below). Selling to a dealer is very similar to selling to an online buyer – although some dealers also operate as online buyers of a sort.
Part exchange
Where you part fund your new car by the dealer taking your old one in and offering you a valuation against the model you’re buying. The price they offer is deducted from the on the road price of your new car, and you simply leave your old car with them and drive the new one away.
As with selling to an online seller above, the dealership will likely offer ‘trade price’ for your car if they’re discounting the new one.
Your options
The above shows there are various choices and, with the exception of selling privately, all remove hassle and save time. Selling privately may yield more money, but bear in mind the costs involved in advertising and preparing the car for sale, and possibly lowering your ideal price anyway when potential buyers start haggling. Make sure to visit this page as well for even easier way to sell your car. However, if the car is you are looking to sell is a junk car you car you can use Junk That Car’s Cash For Junk Cars Service.
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