You have spotted the car you would give your all to have, and you can even picture yourself giving it a roar of a lifetime. However, you need to tie up one loose end…selling your old vehicle.
The options are two, fairly basic but can out you in a perennial dilemma; selling to a dealer or privately. Choices have their pros and cons, and though there’s no clear line that serves all, you can equip yourself with the knowledge that’ll help you weigh your options better. Your option would depend on a variety of factors; the condition of the car, its model and the current market situations.
Selling your car privately
This is an option that gives you the power to make the most out of your car. DIY selling would enable you to properly prep your car and it can give you a lot more coins on it. With DIY selling, you’ll be selling your car at its retail value and not its wholesale price like you would in a dealership sale.
If your car is a hotcake in the market, then you’d want to sell it privately. You won’t wait so long before the buyer’s call comes through and once you eliminate the middleman, your financial kitty would thank you.
Additionally, if your car is really old or one that’s clocked over 100,000 miles, you’d also benefit most by privately selling it. That’s if you’re watching your pockets of course. Dealers tend to be very unemotional when quoting their prices and if you’ve got a car in poor condition, you’ll definitely want to stay out of their way.
If you set a realistic price, upgrade your car, smile and play your cards right, then you’ll be pocketing a substantial sum for it in no time.
Selling to a dealer
You may think DIY selling is a no brainer, but it’s got its downsides too. You’ll have to get your hands dirty when getting your vehicle ready. Change oils and top up the fluid levels, thoroughly clean it, place ads online, and then deal with the buyers, some of whom are going to waste your precious time by make inappropriate calls and asking for inapplicable bargains.
That’s where dealers come in, they take all that headache away. The process is quick and hassle free and all that’s involved is coming up with a price agreement and voila! Sold.
Besides, you won’t have to stress yourself upgrading and repairing your car cause what would cost you hundreds of dollars costs the dealer a tiny fraction of it. You’ll also save yourself a lot of time especially if your car is not a market sensation.
Thing is, a dealer doesn’t do charity, that’s a business they’re running so you can be sure of quite a substandard price quote. When selling to a dealer, focus on the car’s strong points and emphasise on them but also ensure you are aware of its defects. Once the dealer points them out, you can counter by giving them the repair costs reminding them that it’ll cost way less to repair it than if you did it yourself.
In the end, it’s all a matter of convenience and price, there’s no definite right or wrong answer. A dealer offers convenience at a lower price but a DIY sale would take up your time and energy but give you a better return.