Used cars are a suitable option for car buyers who have a limited budget or need the vehicle for a limited time. A brand-new vehicle costs more and depreciates more in terms of value as opposed to a used vehicle. Therefore, if a car buyer intends to sell the vehicle soon after purchase, they must consider buying a used car. Selling a used car can be a challenging task for car sellers who are new to the used car market as they lack experience. They must consider researching the available ways to sell the vehicle in a convenient and viable way.
Car Selling Process Through Car Dealerships
Three common platforms are used by car sellers that include specialist car buying platforms, car dealerships and classified websites. The car dealerships are professionals conducting the car business for many years. Therefore, many car sellers resort to the platform, however, car dealers make use of their knowledge about vehicles and market trends to purchase the vehicle at a low price. By undervaluing the vehicle, they can make maximum profit. Some car dealerships also charge an inspection and estimate fee from a car seller. Some car dealers only purchase selected brands, so the car sellers need to inquire. Some car dealers also offer trade-ins that imply that the car seller must sell their vehicle and purchase a replacement from the car dealer in a single transaction. The car seller must consider the price that is being offered. The car seller may either benefit from the discounted price on the replacement or the price they have demanded from the car dealer for their used vehicle.
Car Selling Process Through Classified Websites
The second platform that car sellers can use are classified websites that provide complete control to the car seller, they can price the vehicle and conduct every aspect of the car selling process. This leads to the car sellers being overwhelmed and often uncertain during the process. With no criteria for pricing, some car sellers resort to comparing prices with other vehicles that are available within the same car segment or specification. However, they cannot ascertain the criteria that other sellers have adopted, and the comparison will not lead to the market price of the vehicle. They may end up overpricing the vehicle and have a problem finding a serious buyer.
The car selling process is time-consuming and stressful as the car seller must finalize the price, meet interested buyers, take them on a test drive, wait as they inspect the vehicle and negotiate over the price. The car sellers cannot be assured that their used vehicle will be sold through the platform. Moreover, there is no certainty regarding the time it will consume before the car seller will be able to sell.
The car sellers need to make sure that the car buyer is not a scammer as in case of fraud they need to manage themselves. The platform is only available for ad placement, every other aspect is undertaken without its involvement. The car sellers have to provide their contact information on the platform so that buyers can approach them. They may be disturbed by numerous interested buyers at odd hours affecting their privacy and peace of mind.
Car Selling Process Through Specialist Car Buying Platform
Car sellers cannot ascertain that the car will be sold at a fair market price through car dealerships and classified websites. Specialist car buying platforms offer the car sellers to sell their vehicles at a fair price. The car seller undergoes a two-step car valuation process that includes an online car estimate and physical inspection. The car sellers can estimate the market price of their used vehicle through an online car valuation tool that considers essential factors such as condition, age and mileage. The information is processed, and the car seller gets the estimate within seconds.
If they are satisfied, they can proceed with the process and book an appointment for the physical inspection of the vehicle. The vehicle is thoroughly inspected and then the car seller is given a final offer. If the offer is accepted by the car seller, they can proceed by signing a sales agreement to complete the purchase. The car seller is not required to pay a fee for the evaluation process. The car buying platform also manages other aspects of the process including the post-sales paperwork. The payment is made through an electronic bank transfer to ensure a transparent process. The car selling process is comprehensive, but it can be concluded efficiently saving the time of car sellers. Specialist car buying platforms guarantee the purchase of every vehicle that is brought for inspection regardless of the condition and other attributes. A car seller selling through a specialist car buying platform is assured a convenient and hassle-free process.