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What word comes to mind last time you tried selling your car? Stress, Worry, Pressure?
All of these words are a common response when really they don't have to be.
There are really three ways people sell a car -
They will part exchange it for another car, not always getting the best possible price because they are being offered what the dealership believes their car is worth which isn't always accurate and in some cases totally inaccurate.
They will sell privately, this is usually where the stress comes in. People not turning up when arranged, people wanting to "go for a spin", having people around your house not to mention all the scams that take place.
And finally Sell to a cash offer company.
The cash offer company route is becoming increasingly popular as it is quick, easy and you can get your figures from the comfort of your own home with a lap top or over the phone. However, how do these companies work?
A few are big car supermarkets with a business model setup to purchase vehicles directly from the public (usually at a low cost) and retail them at their supermarkets in the UK . Others are simply sites that will make you a low trade offer, purchase the vehicle and then immediately trade the vehicle on to a motor dealer for a quick trade profit.
So the cash offer route is a good route which offers minimal effort, risk and is quick but not as financially good as it would be if you could contact the end buyers (the motor dealers yourself).
After spending all my working life in the motor trade I can offer this advice
1. Never part exchange your vehicle without first finding out what cash discount could be given off the vehicle you are buying if you were to dispose of your vehicle yourself.
2. Phone a cash offer site off the net (just type in sell my car for cash) into google
3. Once they have given you a figure phone around, phone not just one dealer but a few and get an accurate view of what your car is worth or even better and quicker use a cash offer comparison site. Like insurance comparison sites, there are now sites that will offer your vehicle to hundreds if not thousands of professional buyers nationwide massively increasing your chances of getting a stronger cash offer. Just type in (sell my car for cash comparison site)
Ultimately it is the cost to change that matters.
When a dealer gives you a figure for your car he will do it in one of two ways -
Let's say he has a car that is being advertised for 10,000
The garage believe your car is worth 4500 but give you 5000 (they have given 500 discount and added it to your part exchange to give you 5000.) This gives you a figure to change of 5000
Now if they say they will give you 500 off the selling price if you sell privately and you do some work and manage to get 5000 for your car off say a cash comparison site this now gives you a change figure of 4500!
Another thing the dealer might do is this
They may have a car being sold for 10,000
Offer you 4500 for you car
And 500 discount off the car you are buying, again this gives you exactly the same change figures.
My advice, do some homework on the price of your part exchange as it could potentially save you thousands.
I had a client who had a Bentley continental. We phoned around and got a value of 45000 for the car, he took his time and used a cash comparison site on the net and got 48000 now that's a big difference for the sake of a little extra work.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
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