How to Sell Your Car for Cash | Best Option & Tips

July 19, 2019 1:11 pm

Selling your car for cash can be a quick way of unlocking the value in the car, especially if you need the money immediately but this has to be done right. Many people believe it is essential to carry out necessary repairs on a car before putting it up for sale. That would depend on the condition of the car. While fixing cosmetic damage may fetch you a little more for the car, the cost of carrying out major repairs on an old car can come close to the actual value of the car, making the whole exercise pointless.

Getting the Car Ready for Sale

It is essential to have all the necessary documentation that establishes your ownership of the car while preparing for the sale. Dealers will not agree to trade in the car unless you have proof of legitimate ownership. It is also advisable to get an idea of the true value of your car to avoid being short-changed in the process. Most online car buyers will give a no-obligation quote on their website.

You can get a fair idea of how much your car is worth by comparing the figures obtained from different car-buying sites. Some sites make their income by offering valuation services but these will still provide a lot of useful information on the value of the car for free. If you have any financing on your car, you need to pay off the loan before selling it. You should also make the car more attractive to potential buyers by giving the interior and the exterior a thorough cleaning before putting it up for sale. But where can you sell your car for cash?

Sell to a Car Dealer

If your car is still in good condition and you want to sell the car quickly, without necessarily achieving the maximum sale value, this might be a good option. Car dealers naturally want to make a profit on their purchases, so be prepared to bargain. An important tip here is that you will get a better price by selling to a broker.

Private Sale

Selling privately will give you the opportunity to obtain the best price, especially if you have done some valuation and you have an idea of the car’s market value. You will need some details on the car and an attractive photograph that shows off the best features of the car in order to advertise it. Some websites will allow sellers to advertise for free even though others will charge a small fee. Roadworthiness rules vary from state to state in Australia if you are selling your car privately. A roadworthiness check may be required in some states, so it is advisable to check for details of roadworthiness requirements from your local registration authority.

Sell to a Scrap Dealer

This is a great way to sell your junk car for quick cash. Many scrap dealers will give you a quote free of charge and they will attach a validity period to the quote so that you can have time to consider the quote and make a decision. They can also arrange to pick up the car directly from your home once you approve the quote. The cars are usually recycled, so the quote is worked out by considering the price of scrap metal at the time you are selling the car. If you call a p yard hotline and give them the details of your car, they will provide you with a quote that can give you an idea how much your car is going to fetch you when you approach a scrap dealer.

Sell at Auction

This option enables you to obtain an open market price for your car. Auctions take place weekly in most Australian states so if you approach an auction house, they will load the images of your car online for viewing and the car will be offered for sale at a reserve price. You can still decide to sell on the day even if the reserve price is not met. The tip here is to set a realistic reserve price if you want your car to sell quickly.

Sell to a Car Parts Dealer

This option is suitable for a worn-out car which cannot be sold for a good amount. You have to identify which car parts are still in good condition to attract great value. You may need to visit a couple of car part shops to sample their prices before approaching a car parts dealer.

%d bloggers like this: