Sell Used Cars: Dealer, Classifieds or Online?
How to Sell your Used Car
When you sell used cars, getting the details right can make hundreds, and sometimes thousands of dollars difference. Places where you may get the highest price might also be the least secure ways to sell the car and you could go for the highest price offered and end up not being able to get the money safely. For instance, it costs you a lot less to sell your car if you do it yourself, but its safer to do it through a dealer or event through an auction.
If you decide to do it yourself, you can advertise online, which puts it in front of a lot of people and very cheaply too. Some websites let you do this free, as they can make money from putting advertisements on the pages created to sell you car. This isn't too much different though from taking out a classified ad. You must still meet with the buyer, you still need to have the car tested. So taking out an online ad is just a first step when you sell your used cars.
Classified ads are the cheapest option and do put you in front of more people than other mediums. As to where you place your classified ad, it depends what used car you are selling. If you car is worth more than $10000 for instance then you are more likely to be successful if you can place your ad in a specialist car magazine. Should it be under that you may be better off using a local paper. It is more expensive to advertise in the specialist car magazine, but people who are looking to spend more than $10000 are more likely to buy a car magazine to research them. Under that – they may just be buying a run-around so may research less and just want to do something easy and buy from the local area.
Another way to sell used cars is to sell them to a dealer. This is the safest and most secure way to sell the car, because these dealers will not drive off with the car and you can be most sure that the payment will be guaranteed. However, dealers do run businesses, so you will get a lower price from them, as they need to be able to resell the car at a profit. This makes you less money, but is well known as hassle free and quick.
When you use a car auction, you can specify a reserve, so your car won't sell at too small a value. However, it is expensive as you will have to pay a flat fee to enter the car and also a percentage of the price it was sold at.