Selling a used car on your own to a third-party buyer is a great way to get the most out of your vehicle. Typically, this is the best way to make a maximum profit on the sale of your car, as there is no “middle-man” like there is if you trade-in to an auto dealer, or sell to a company like CarMax.
But selling a used car on your own isn’t always a great idea. If you’re considering a third-party, independent sale of your car, here are a few signs that it may not be the best choice for you.
1. You Don’t Have The Time Or Inclination To Advertise Your Car
You’re going to have to do some legwork to get the word out about the car you’re selling, and you may even have to pay some fees to do so. Gone are the days when you could just prop a “FOR SALE” sign up in your car’s window.
Today, you’ll need to use websites like cars.com, AutoTrader, Craiglist, eBay, and other such websites to advertise your car – and not all of these are free. In addition, you’ll have to spend time on the process of writing advertisements and logging information about your car, which can take quite a bit of time if you are showing your car on multiple websites.
2. You’re Not Interested In Negotiating With (Often Unreasonable) Buyers
The process of talking to prospective buyers, setting up times to view the car, and answering their questions about the car can be quite time-consuming – and annoying. In many cases, buyers will “low-ball” you on the value of your car.
Or, they may show interest and then stop answering your messages, or make unreasonable demands of you – such as you paying for a third-party inspection before selling the car.
If you’re not a “people person”, this can get quite frustrating. In addition, you may have to juggle your schedule around, and spend time showing the cars on nights and weekends, eating into your spare time.
3. You Don’t Like Dealing With Paperwork
There is a lot of paperwork involved in a used car sale – such as title transfers, purchase agreements, and other such essentials. It can be pretty hard to navigate the details of a third-party sale on your own. You will also likely have to hire a notary, which is another additional cost to consider.
4. You Don’t Care About Getting The Most Possible Money For Your Car
If you sell your car in an independent sale, chances are you’ll get a pretty good price for it, and you’ll get more money than you would if you just traded it in at a dealership. If you’re pressed for cash, and want the most possible money for a down payment on a new car, or to buy another car outright, an independent sale may be right for you.
But if you can afford to get a price that’s slightly lower in exchange for convenience and saved time, a vehicle trade-in may be a better choice for you.
5. You Can’t Handle Two Car Payments At Once
Selling a car takes a long time, and you may not be able to wait to get another car. For example, if you’ve got a sports car you’re still making payments on – but you want to replace it with an SUV or minivan because you’re starting a family – you may end up carrying two car payments at once, until you sell the car.
But if you trade in your car at a dealership, you won’t have to worry about this. You can use the money you get to pay off your old loan, and the rest of your car’s value can go towards your purchase of another vehicle.
Interested In Trading In Your Car? Ride Time Is The Best Choice!
At Ride Time, we’re always looking for high-quality used vehicles. If you need to sell a used car, we’d be happy to give you a trade-in value for your car – even if you don’t want to buy a vehicle from us!
So don’t wait! Sell your car now to Ride Time! We offer free appraisals, and there’s never any pressure to commit. Don’t like our quote, or prefer to sell independently? No problem – we’re always here if you change your mind.