Should I Sell My Car to a Dealership?

Should I Sell My Car to a Dealership?

There are a number of ways and means to dispose of your car. One of the most common ways is to simply trade it in for a new car at a dealership. This is the fastest and the most economically way to sell your old car. However, if you are a car enthusiast, work in the auto industry or simply have a lot of time to spare, you could always sell your car to an individual buyer instead of to a dealer.

Here are some reasons why you should try selling your car to a dealer:

  • Hassle-Free: A dealership is a place where a number of car sales and purchases happens. A dealership not only has the expertise but also a valid license to conduct such business in a timely and uncomplicated manner that is designed to aid the general public. The license you need to look for in this case is the ADL or the Auto Dealer License. Dealers can legitimately buy and sell cars with the right knowledge and requirements as per the law.

  • Payment: When you’re working with a dealer, you have a high degree of trust about when and how you will be paid for the car you’re selling. You can dictate as to what mode of payment you want and also release the car at a convenient time for you. You can ask for a bank transfer, cash, check or have it adjusted against the purchase of a new car from the same dealership. You can have cash in hand by the end of the day while an individual buyer may not be able to pay you immediately. It could take a few weeks to a few months of waiting while the value of your car continues to depreciate.

You will also not have to verify genuine buyers or check up on financial stability which you will have to do if you’re dealing with individual buyers. In case you decide to sell privately, it’s highly recommended that you make it clear that a monthly payment for your car is not available since this cannot be forced once the car is signed over (registered) to the buyer.

Bear in mind that you will first have to clear all loans taken to purchase your car before you can legally sell it. While selling to a dealership, this will be checked up on by the dealer before the sale is completed.

  • Perks: The added benefit of going to a dealer instead of dealing with individual buyers is that your car can be picked up from wherever it is once the sale has been completed. You don’t have to have the car serviced, washed, update insurance, etc, since the dealership takes care of all these aspects.

Try both single and multi-branded dealerships to get you the best price for your car to make informed decisions for the best profits.