There are 4 different ways to sell your car? Find out here which is the most suitable way for you to sell your car.
Presently, there are various approaches to sell your car. Last time, you would go to a used car dealer or take a chance by posting an ad in the newspaper. However, in the present day, vehicle owners have the freedom to choose how they want to sell their car. Cars can be sold or traded-in to car dealerships,sold directly to direct buyers on SGCarMart or through a car consignment agent.
Selling your car can be a hassle but here, we will explore the different options available for selling your car and make sure you get what your car is worth.
Here’s a quick summary of all the different ways of selling your car.
1. Selling via trade in
Have you ever found yourself eying for a new car and wondered if your current car can help in any way to secure your new “ride”? Trading in is the option for you. By trading in, you’re literally purchasing your new car with your old car. Depending on the value of your old car, the price of your new car can be deducted by a value determined for your old car by the car dealer.
People prefer trading-in due to its ease of process. Trading in means that you don’t have to find a car dealership that’s willing to offer you a price you’re willing to take for your car, or a direct buyer. It saves a lot of time and effort and has remained as a popular choice among car sellers.
2. Selling to a used car dealer
If you’re planning to sell your car, a process that can immediately convert your car into cash sounds good, right? That is what happens when you sell to a used car dealer. Afterall, selling to a used car dealer means no paperwork, quick cash conversion and hassle-free. All you need to do is finalise on a deal with a car dealer, arrange a drop-off date and get paid.
Selling to a used car dealer is easy and you’ll get more than just trading in. However, an easy process means you’ll most likely get a value lower than your car’s market value. Check out how you can make the most when selling your car to a used car dealer. Despite getting less, many still choose to sell to a used car dealership due to convenience and speed.
3. Selling by consignment
Have you ever planned to sell your car and wished to earn the market value of your car but not go through the troubles of directly selling to a buyer? That sounds like you need a consignment agent! By selling through a consignment agent, you’ll get to earn what you desire to make, save all the troubles of paperwork and pay a small agent fee.
A consignment agent acts as a middleman between a direct buyer and a direct seller. A consignment agent will help advertise, settle paperwork, apply for loans and filter out potential buyers. Agent fee usually ranges from $500 to 1% of your car’s selling price, not a bad price to pay for someone to do all the work for you.
4. Sell directly to a buyer
Selling directly to a buyer can let you make the most out of selling your car. However, you, as a seller, will have the responsibility to advertise your car, finalise deals, settle paperwork and loan applications. On top of that, you also have to arrange viewing appointments, filter potential buyers with intention of buying your car and buyers bargaining for a lower sale price. Afterall, buyers always want to pay less while sellers always want to earn more.