Selling a used car to a dealership can be convenient, but you might not always get the best price for it. You might want to look into an independent buyer if you want more cash for your trade-in. Whoever buys your car will need to know about its market value and how much it should pay for it.
Selling your car can be complicated, but knowing how the process works can make it easier. All of our more than 35 years of experience in numerous premium vehicle businesses, have led us to share it with you so that you can maximize your car sales.
Where to sell your car?
Trade a car in a dealership: you will receive less than the value of the vehicle. This is because the dealership is buying your car to then turn around and sell it to someone else. As such, they usually won’t buy your vehicle at market value because they won’t make much money when it comes to reselling it themselves. While the trade-in value is negotiable, don’t expect to get the best trade-in value from a dealership. Usually, it’s the ’change over’ figure that’s important anyway – it’s no point selling to a dealer who gives you $2000 more, but the car they are selling you is conversely $2000 or more, more expensive than somewhere else. However, if you need to sell quickly, and don’t have the inclination to do work, prepare the car for sale and deal with private buyer inquiries, then this may suit you.
Should I sell to dealers or Private buyers?
We've found that when you sell your car privately, rather than to a dealer, you will usually get a better deal. The reason is that dealers try to negotiate people down on the price so they can make enough profit off them in the end.
Some dealers will tell customers their car has problems and needs fixing, so it’s worthless.- a scam that can be difficult to spot if you don't know much about cars.
Therefore, If you are considering selling to dealers, we always recommend getting an independent pre purchase vehicle inspection.
A pre-purchase car inspection is an examination of a car made before someone buys it. With this, you will know from a fully qualified examiner exactly what issues your car may have, so you can't get screwed over by any dealer/buyer/re-seller. Read more, to know why you need pre-purchase car inspections and is it worth it?
If you're looking for a quick sale, then garages or dealerships will be best. If you have the patience and are in it for the money, then private sellers are your best choice. Note though that you may be subjected to numerous fake/scam buyer inquiries, or need to make time to make the car available for private buyers to inspect/test drive, etc. If you are uncomfortable with this or fearful of getting scammed, then be cautious.
How should you prepare your car for sale?
1. Research about the market: Research is essential to the success of most undertakings, including selling your car. You should look for dealer inventory and find estimates for comparable vehicles in your area so you can estimate what yours would be worth in that range.
It is important to remember that seeing a listing doesn't mean the car will sell at that price. Buyers offer varying amounts, based on things like the condition of a vehicle and its mileage along with elements such as season or region.
For example, certain cars are more in-demand at different times of the year. Not as many people want to buy a convertible or sports car during wintertime but you may get better deals on them during the summer season. Conversely, family wagons/SUVs may have more appeal approaching holiday periods.
Before setting the price, take into account whether it has any defaults or issues. It's also important to consider that people think cars have less value if they're not complete with all paperwork/service history/2 keys etc.
Facebook, Carsales, Autotrader, and Gumtree are platforms that can help you find customers. You might want to try promoting in Facebook groups or on the marketplace. Keep in mind, though, that this can attract a lot of time wasters; so it is important for you to be prepared for them before going any further with your promotion.
Tips on how to sell your car
Detail: Get your car detailed and show how clean it is - they're affordable and will help sell your car.
Contact a professional
To sell your car at a reasonable price it’s best to have it inspected by a professional vehicle inspector.
German Precision offers Pre-purchase Car Inspection and Vehicle Check services across Melbourne, Victoria, with over 35 years of experience in numerous premium vehicle businesses.
Book your pre-purchase car inspection with our experienced master staff to provide you with reliable and excellent services.
Contact us today to arrange an inspection.
