If you’ve thought about selling your vehicle, you’re probably wondering – should I take the time to sell it privately? Read more to find out the pros and cons of selling your vehicle on your own and why it may or may not be the best option for you.
When it comes time to sell your vehicle, which option is better? Selling it to a private party or trading-in/selling to a car buying service or dealership? There’s one huge advantage to selling your car yourself: Extra money in your pocket – even if the vehicle isn’t worth very much to begin with.
If you put in the time and effort to sell your old car on your own, it’s possible to break even or even make a profit. As an example, if your car is paid for, you can usually sell it for more than a dealer would give you. According to information on the Consumer Reports website, you can always expect to get more than the wholesale price by selling it on your own. Even if you owe money on the car, you still may be able to make a profit after a private sale, or at least make enough to pay off the car, which is definitely in your favor.
If your car is an older model or has more than 100,000 miles, the case is even stronger to sell it privately. It seems like it’s a no-brainer to sell your car privately, but there’s a long list of disadvantages you need to consider.
First, you’ll have to invest a lot more time while selling the car yourself. For example, you will have to spend time cleaning the car inside and out to make it more appealing to interested buyers. You also may need to have a mechanic go through your vehicle and check it for any issues that you need to address mechanically. You’ll also have to deal with strangers and go through the test driving process with each of them. Not to mention you can be liable for any problems with your car after the sale.
There’s also the possibility of encountering a scammer. Not only do scammers waste your time, they also can suck you into believing they are legitimate buyers. If you do get approached by a scammer, you risk losing your vehicle, a ton of
money or even both in some cases. Beware of anyone who asks you to complete a wire transaction for the vehicle. Insist on meeting face-to-face with any potential buyers. Be wary if the prospective buyer refuses to meet in person. Be cautious of any buyer that states that they are overseas as this is a common tactic used by scammers. Keep in mind that if it seems too good to be true, it probably is.
3 Steps To Save Time & Money
Step 1: Gather information about your car
The first step is to gather all the necessary information about your car that will affect its value. Year, Make, Model, Trim, features, color, Mileage and condition are key items to have on hand. Pictures of your interior & exterior can help as well!
Step 2: Research local car values
Once you’ve gathered all your notes about your car, it’s time to research used car prices for similar cars in your area. Get an idea of what cars like you’re selling for.
Step 3: Let SnapAutos help you get the best value for your car
Now that you’ve gathered information about your car and have an idea of what you’re looking for, let the SnapAutos valuation tool and VIP team save you time, hassle and get the most money without ever leaving the comfort of your couch!
Not only can we give you a market-specific estimate range for your vehicle within 30 seconds, your VIP team can work with you to review all of your vehicle information and condition to get you a firm cash offer within an hour. Then we’ll get you multiple bids from our buyer network so that you have the power to choose.
HOW IT WORKS
1. Share your vehicle information
2. Enter your license plate or VIN number & some basic information about your vehicle
3. Confirm your offer
4. Work with a VIP on our team to get a firm value for your car & multiple bids to ensure the highest dollar amount possible for your vehicle
5. Bring your vehicle to one of our local partners and cash in! Simple, no fuss, no hassle.