The world continues to advance and thanks to the Internet, there are now more ways to sell your car than ever before. There are different car sales methods available and you should be conversant with the diverse ways and means in order to choose the one that is right for your car selling business.
It is frequently a matter of interchanging price for convenience. This simply means that if you are in a hurry to sell your car, or you are looking for the most stress-free way to sell, you should expect to get less money. But if time and accessibility are not overriding concerns, you can get the best price for the car.
Selling a car is not always as easy as you may think
Importance of car price in selling
Since car dealers are also faced with economic realities like inflation and changing forex rates, it is possible that the value of the car has depreciated from the time it was bought. Thus the only way to know if an offer is reasonable is to check updated car prices constantly. You can without difficulty do that from home by visiting Naijauto car for sale section in which provides a wide range of cars at a reasonable price.
Factors that affect your car sales
In either case, you will have to answer a lot of serious questions about your car, which include the make, model, options, and mileage or distance travelled. The car buyer will also ask you about the condition of your car, and you have to be as honest as possible here.
You should know the various definitions of numerous conditions, and you should be careful to select the one that most accurately describes the vehicle. It can make a big difference either way. Not being forthright at this stage can be interpreted as being a car scam dealer.
Once the questionnaire has been completed, you will then need to come up with an estimate of the value of your car. You should print that page, and have it ready to bring to a dealer if you are not one or to show to a private party. The finished estimate will typically provide both the retail and the wholesale value of your car. The wholesale value is what you can expect a dealer to pay for the car in the trade or outright purchase, while the retail value will be what you can expect a private party to pay for the car.
Car sales method you can use- or not
Below are some ways to sell your car (and one you should probably avoid).
1. Trade it in for a new car (Car swap)
This is generally the fastest, laid-back way to sell your car because you are accomplishing the sale of your current car, and at the same time, you are buying a new one. This makes the sale of your current car a comparatively minor effort on your part if there is any effort at all. This is usually called car swapping in Nigeria.
But you should be aware that you give up something in exchange for the convenience. The exchange value that will be offered to you by a car dealer is probably not the best price you can get for the car.
The reality is that the more value the dealer allocates to your current car, the less they make on the resale of that car. In some ways, you and the car dealer are likely adversaries when it comes to the value of your car.
What the dealer gives you on the trade-in or swap might show up as an extra charge, or a higher charge, on the purchase of your new car.
This process just seems to give too much power to the dealer, after all, you are just not working with the dealer to purchase a new car, but you are now adding the sale of your current car to the mix as well. But if ease and convenience are your primary goals in the sale of your car, trading it to the dealer is the best option.
>>> Do you know many have gotten a stolen car while swapping? See How to avoid buying stolen cars in Nigeria
2. Sell it to a dealer
Many car dealers will purchase your current car if you don’t buy a new car from them. They are just all in the car selling business, and the purchase of your car presents an opportunity to sell it as a used car on their lot.
This is different from trade-in since the dealer is likely to give you the lowest value possible for your car. But it is a way of separating the selling of your car from buying a new one. This will at least give you an option to go to another dealer if you aren’t happy with what they will pay you for your car so that you can make the best car sale agreement.
Shop around, and work with the best dealer who will give you the best offer.
Dealers are always in need of a good car bargain
3. Sell it to a private party or car buyer
This is the best way to get the highest price for your car. If you plan to sell your car to a private party, your target price should be the retail value that you come up with. This will be the highest price possible for the vehicle.
The one drawback of this method is that it will almost certainly take longer than any of the other sales methods available. You will have to advertise the vehicle for sale, then wait for the buyer and further you may have to show the car several times before you actually get someone interested, and who actually has the money.
Although this method is very good ROI wise, it may be the least beneficial in practical terms because of the long gestation period.
Selling to a private car buyer gives the best deal by far
4. We buy cars for cash
This is the one method you only take if you need cash for an emergency and selling your car is the only option left. You can usually find ads for the car for instant cash online. The advantage is that you can indeed monetize your car asset immediately.
The bigger minus is that you will get the lowest value possible for that car because the dealer knows you need the cash desperately. Try to avoid a situation where you need to sell assets to meet a very urgent need. It robs you of the power to negotiate a good price for your car.
5. Use a good car selling site
One of the best ways to sell your car would be to make a car sale online. You can list it on a car sale website site such as naijauto.com. This way you can reach a wide market or customer base while selling at retail price.
The car site will usually take a small commission for the sale or charge you for the listing. This is really a great way to sell your vehicle.
Sites like naijauto.com simplify the car selling process
This video will teach you more about selling cars;
Secret to Success Selling Cars
You must know that each of these car sales methods has different advantages and disadvantages. If you have time, and you want top dollar, sell the car to a private party. If the time is short, look into selling it to a good, accredited dealer.
Worst case, trade-in or swap for a new car. And if only you are truly desperate, go to the We Buy Cars For Cash route. But think of this only as an absolute last resort.
>>> You can get more buying and selling tips here