For people who plan to sell their cars, there are a number of options they can choose:
- Private Sale: This could potentially be the best solution to get the most profit from our car sales. However, it can be the most stressful method too. In this case, we often need to deal with more than a few buyers who want to check our car. They will usually haggle aggressively with on the price. In general, this should be a good method to take if we have good communication skill and we can handle the pressure. However, we could potentially get the most return with this way. In general, we could price our car slightly lower than the dealer prices to attract more buyers.
- Car trades: This should be a hassle-free option to sell our car. However, this could be a risky method, if we know little about cars. There’s a possibility that we get a car that is actually valued less than our original car. As a result, car trading isn’t without the stress. It is important to take both cars to a few mechanics and ask them to evaluate how both cars perform. Car trading could be performed when both cars are in equal condition with roughly identical valuation. As a result, it could be rather difficult to find a car that matches these requirements.
- Auction: Auction should be the least stressful way to sell our car, unlike private sales and trading. We will likely get plenty of bids during the auction. However, we should be aware that early bids can be much lower compared to the original value of our car. So, there’s a risk with this auction and there’s always a possibility that our car will be sold much lower than the original value. In this case, we shouldn’t be pressured into participating in bidding, because there’s a possibility that local bidders have fewer interests with our cars.
- Scrap the car: This isn’t equal to selling our car in a normal sense, but we should still get money by choosing this step. It could be the only option when the car is damaged and the repair cost is higher than the actual value. Some cars could also be affected by mechanical problems, so it would be more prudent to scrap the car to its basic metal values. We would get much less using this method, often we would get less than $300 by scrapping our car.
When we are planning to sell our car, we should be aware of its proper valuation. There are multiple car valuation websites that could give us an idea on what price we should be looking for. In this case, we could use the website to perform research on similar cars in the market. However, even if know about the average price for our used car, we should also consider the overall condition of the car and its mileage. In general, cars with good visual appearance and lower mileage should be valued higher.