Car sellers often face difficulties when they step into the used car market as they are not prepared for the process. The lack of information and experience are the main factors that draw in challenges for car sellers. To avoid this, car sellers should learn about the car selling process to make a well-informed decision about their used vehicles. The car sellers need to ensure that the car is sold at a fair price in a hassle-free manner. This can be ascertained if the car sellers prepare for the process and opt for a suitable platform for selling the vehicle.
Given below are details regarding the commonly used car selling platforms to provide insights into their procedures and help the car sellers determine the best platform that can be used.
The Car Selling Procedure of Classified Websites
Car sellers who use classified websites need to be prepared to undertake the entire process themselves as the platform only helps them in connecting with potential buyers. The vehicle is advertised on the classified website and the ad includes the pictures, information, and the expected prices. The car sellers also include their contact information so that interested buyers can contact them. The rest of the procedure is done offline and usually includes meeting buyers, allowing inspections and test drives, queries, and negotiations. The process is time-consuming and stressful for car sellers especially if they are inexperienced.
The price of the vehicle is decided by the car sellers as the platform does not provide any framework for it. Most sellers compare prices and keep a competitive price for their vehicle however, since the criteria of pricing by other car sellers is not revealed there are chances that they have set it without consulting a professional. The car sellers may end up pricing their vehicle unrealistically causing problems for them in finding the right buyer.
The time consumed before the vehicle is sold cannot be ascertained and the car sellers cannot get a purchase guarantee either. Classified websites make car sellers vulnerable to scams as well because they can be approached by fraudsters through their ads.
The Car Selling Process of Car Dealerships
Car sellers often feel at ease selling their vehicle through car dealerships as they are professionals that have been in the market for years. These experts can easily trick car sellers into accepting a low price for their used vehicle. They are excellent negotiators who will most likely dominate the entire process. Car sellers may also be asked to pay an estimation fee by the car dealerships whereas with other platforms it can be done for free. The car sellers may end up with a financial loss while using car dealerships.
These dealerships also have exclusive deals with car brands so, if your car is not of that brand, you cannot sell your car to them. Moreover, some car dealers also try to profit from trade-in deals that give the car sellers an option to sell and purchase in one transaction. So, the car sellers will sell their used car and get a replacement and pay the difference. Although this seems like a simple solution, it is not beneficial for car sellers. The car sellers can either expect a discount on the replacement or get their asking price for the used vehicle. Whereas in separate transactions they can aim for both. By accepting a trade-in, they may be making a financial compromise so they must evaluate the deal carefully.
The Car Selling Process of Specialist Car Buying Companies
With a specialist car buying company, car sellers can sell the vehicle with minimum hassle. The car selling platform allows the car sellers to begin the process by estimating the resale price of the vehicle using the car value calculator that is available on their website. The car seller can enter the car information and get an estimate in a few seconds. The next step is to get the car inspected by the car experts at the company. The physical inspection is thorough but concludes quickly with the car seller getting the final price which reflects the actual market value of the vehicle. The estimation process is free, and the car sellers are not required to sell the car if they are not satisfied.
The car sellers are provided a purchase guarantee by the specialist car buying company and they do not discriminate based on model, condition, mileage, or age. Moreover, the post-sales paperwork is also prepared by the company and the car sellers can conveniently receive the payment through an electronic bank transfer. Unlike the other two platforms, the car selling process is comprehensive yet rapid with the car seller selling the vehicle within 30 minutes. This is a stress-free and hassle-free way of selling a used car.