Updated: Jul 30, 2021
Trading in or selling to a used car dealer or selling through a car consignment agent or selling to a direct buyer? Check here to see tips on how to not lose out on a deal even when you’re selling to a used car dealer.
Without a doubt, there are many ways to sell a car, even after deciding on the method of selling, there are still many things to consider. One of the easiest ways is to just sell to a used car dealer and save all the troubles of selling a car.
However, the easiest way also means less value. Afterall, there’s no effort required on your side at all while selling your car. Convenience and speed are ultimately the attractive parts of selling to a used car dealership, but how can you ensure to still get the highest price possible even when selling to a used car dealer.
1. Know your car’s worth
One way to know your car’s worth is by visiting the SGCarMart website, search up the model of
your car. Select a listing that’s closest to your car’s registration date and look at the price chart. There is also a summary tab where it shows the highest price, median price and lowest price of your car which can be a good indication of your car’s approximate value.
Keeping track of your car’s listings on SGCarMart website often is also a good idea as it can show whether your car is in demand which can play a high factor in determining your car’s worth.
With this information, you can easily gauge the value of your car and not sell anything lower than your car’s worth.
2. Enquire your PARF and COE rebates
When you deregister your vehicle, you can get a rebate for your COE. It is ideal to discover how much your vehicle is worth as far as 'paper value'.
You don't need a dealer to find out your car’s rebate. As the car direct owner, you can check the amount from the Land Transport Authority's One Motoring Service (https://onemotoring.lta.gov.sg/content/onemotoring/home.html), under the Enquire PARF/COE rebate.
Once you know the amount, you will know that any offer lower than your car’s PARF/COE rebate is a bad offer, and you’re probably better off deregistering your vehicle yourself and earn that rebate from the government.
3. No ideal deals? Sell in other ways!
There are other ways to sell your used cars. Instead of trading in or selling to used car dealers, you can also sell your through car consignment or direct owner sale.
Selling your car through car consignment means allowing a car consignment agent to sell your car on your behalf while you keep ownership of your car until it’s sold. Selling through car consignment can ensure you get your asking price while saving all the troubles in searching for buyers, paperwork, loan, and sealing the deal.
Direct owner sale can ensure you to get the best price possible as 100% of the sale proceedings will be pocketed by you. However, you will have to go through the hassle of finding buyers, sealing deals, settling paperwork and loans. However, it will ensure you get the highest price possible.
How to sell your car? It depends on you! Remember to always know your car’s worth and never settle for anything lower than your car’s “paper value”!