It sounds like a fairly straightforward question but people are often confused about which option to take when selling their car for cash.
Should you stick it online yourself to try and sell your car privately, should you try and sell through word of mouth, should you part exchange it for a brand new car or take it to your nearest car buyer maybe?
All of these options have their advantages and disadvantages but it depends on what matters to you the most and how quickly you want to sell your car.
So what are your options if you want to sell your car?
1. Sell privately
Selling your car privately is likely to get you the best price – IF you know what you’re doing. You have several options when selling your car privately which includes advertising in your local newspaper, on car selling websites, car auction sites, “for sale” signs in your car or shop windows.
Some options are free and some aren’t.
If you can advertise for free and get a car buyer quickly then you effectively cut out the middleman and can get a good amount of cash for your car.
However there are many disadvantages to this too…
Selling your car privately can be very time consuming and costly. Especially if you go to all of the effort, then struggle to sell your car. We’ve known customers try and sell their car for months and months before they give up and a lot of time and money has already been wasted.
You must ensure your car is in tip top condition (to get the best amount of money for your car), you must ensure all the paperwork is up to date and necessary forms completed too. A major downfall of selling your car privately is having people come and view the car, not just because of the time wasters but ensure the person greeting them is safe and knows what they are talking about too to avoid being ripped off.
2. Part exchange
You’ll address the issue of what to do with your older car, assuming the new purchase is meant as a replacement of course. Within one visit to the dealer, you can turn up in a used car and leave in a brand new one.
Another major benefit is that the price given for your old car is taken off the price you pay for your new car. This means that in a single visit to the dealership you can effectively swap your old car for your new one, which is a great way to save time and money.
Part exchanging your vehicle is by far the easiest option but this can be reflected in the amount you are offered for a vehicle. Rarely is the most convenient option the most profitable. Dealers will use the fact that you are swapping cars to their advantage when negotiating.
Another potential issue with part-exchanging an old car is dealing with two sets of negotiation – one for the new car and another for the part-exchange of your old car. Dealers often take some profit out of their “new” car and put it on top of your part exchange to sound like you are getting a good price for your part ex vehicle. However you are just paying top money for your new car in reality.
3. Selling to a car buying service
The major advantages of selling to a car buying service is that it’s quick, easy and hassle free. You simply enter your car’s details in to the website and you will receive a quote. You then arrange an inspection, the final price is confirmed and the money is transferred in to your bank account.
You don’t have to worry about cleaning your car pre inspection, taking time off work to arrange viewings and if you go to a car buyer with a good reputation, if your car does need fixing, you will pay less than if you were to get it fixed yourself pre-selling.
Many car buying services, often over inflate their valuations online to ‘hook’ you in, only when you get there for them to knock the price down by £100’s if not £1000’s.
Also, remember a lot of these companies charge admin fees and can take as long as 7 days to get the money in your bank.
You may get a lower price for your car through using a car dealer (but for some this is definitely worth the time and the hassle of trying to sell privately).
All in all there are pro’s and con’s to all of the ways you may choose to sell your car for cash so you need to work out which option is best for you and if you have the time and the patience to do it yourself.
If you do want to see how much your car is worth through us then you can get a no obligation valuation which is valued by Jack himself (not an automated service) so it is much more accurate. You’ll find the car valuation service on our home page www.sellyourcar2jack.com
Hope this has been of use.