Should You Sell Your Car Privately Or To A Dealer?

When it comes time to sell your car, truck, or SUV, you want to know your options to decide what’s best for you and the time you have. You can either sell your car privately or to a dealer. While both have benefits and disadvantages, many find that selling their vehicle to a trusted dealership is more advantageous. Read on to learn about the pros and cons of selling your vehicle privately versus to a dealership to help you choose what suits your needs.

Considerations Before Selling Your Vehicle

Car Insurance by Pictures of Money is licensed with CC BY 2.0

People sell their vehicles for a variety of reasons. Whether you’re selling because you’re ready to trade up to something newer, want a sleeker look, have a growing family, or need a few extra bucks, you’ll want to get the best deal possible. You may think that selling your vehicle privately is the best way to get the most money back on your investment, but there are other things to consider.

While selling your car through a private sale might get you a few hundred extra dollars, is the time spent in storage, advertising, and following up with bogus buyers worth the effort? Some considerations to remember when deciding to sell your vehicle might be whether the few extra coins are worth the time and effort it takes to do all of the following:

• Take pictures of your vehicle.
• Advertise online.
• Commit to hours of answering questions from and communicating with potential buyers.
• Showing the car to prospective buyers and negotiating a price.
• Filling out the paperwork.
• Securing a safe sale.
• Reporting to the DMV.

Tips for Selling Your Vehicle

When selling your vehicle, consider the following steps to help you get the best price for your car, truck, or SUV.

• Collect the vehicle’s title, the document that proves your ownership.
• Clean your vehicle.
• Get an inspection.
• Research vehicles like yours in the market.
• Fill out transfer forms to have them ready.
• Get the specs on your vehicle, including a current odometer reading.
• Collect all documents that prove the vehicle has been properly maintained, including any sales receipts or proof of work done.

Selling Your Vehicle Privately

While selling privately might carry a slight financial benefit, you’ll want to consider the advantages and disadvantages. Whether a private sale is safe and how much time you can commit to the sale, including the money loss you’ll take while the vehicle sits in storage. These are important aspects to think about. Here are the advantages of a private sale.

Advantages of a Private Sale

When you sell your vehicle privately, some of the pros you can expect can include the following:

• You can set your price: Although you’ll want to research the going price for your particular make and model, you can set a price you feel your car is worth.
• Older vehicles sell for more privately: If your vehicle is an older model, you may get more money in a private sale because of people with special interests and because you can let your vehicle sit on the market longer.
• Advertising is easier in today’s world: Because snapping a few photos with your phone and posting them online is much easier, you’ll spend less time than in past years advertising for your sale.
• Buyers have perks, too: Selling your car privately is an incentive for buyers as well. Buyers will likely pay more money to a dealership when making a used car purchase, so there may be more interest in your vehicle.

Selling Your Vehicle to a Dealership

Most people opt to sell to a dealership because the business arrangement is trusted. Dealerships can give you a cash offer, and you can use that money immediately toward a new vehicle of your choosing. When you sell to a dealership, you also benefit from the security of the sale. You can save weeks or months without advertising and meeting potential buyers with dead-end offers. Here are some of the benefits of selling your vehicle to a dealership.

Benefits of Selling to a Dealership

Busy individuals and those who want to ensure they get the best return on their investment often choose to sell their vehicles to a dealership. Some of the benefits of selling your car, truck, or SUV to a dealership include the following:

• It’s faster to sell to a dealership: Selling your vehicle to a dealership will get you your money faster. You can use that toward a new vehicle or whatever you need.
• Selling to a dealership is convenient: When you sell to a dealership, you don’t have to spend a lot of time researching your vehicle’s value or waste time advertising. In many cases, dealerships can offer you a quote on the spot by making an appointment for a professional appraisal.
• The exchange is safe and professional: When selling or trading in your vehicle to a dealership, you can be sure that you have a professional exchange. In a private sale, you may have to hunt down the buyer for your payment, while with a trusted dealership, you know you’ll be treated with respect.
• You may get a possible tax break: If you decide to trade in or trade up for a newer vehicle from the same dealership, you may get a tax break.

So, there you have it. Our team at Red McCombs Toyota has enjoyed sharing our thoughts on whether selling your car privately or to a dealer is better. You’ll want to consider your needs and how much time you can commit to selling your vehicle. Selling to a dealer is an excellent option because it saves time for you, and you’re guaranteed the best price for your vehicle.

If you want to know how much your car is worth, you can value your trade, or contact us today to get started on selling your car.