Monday, 26 August 2013

How You Can Trade Your Car for Cash

You can sell your car to a dealership if you are not interested in spending your time to sell it on your own. Even though the amount you will sell your car directly to a buyer is not the same with the amount you will sell it to a dealer, you can avoid a lot of potential hassles that can be associated with dealing directly with the public on the sale of a used car. However, in order to get the best price from a dealer, the following tips will be useful to you.

It is important to inspect your car properly and come up with an unbiased evaluation about its condition. What is the condition of the tires, body, upholstery, engine and so on? Their condition will determine the amount dealers will be willing to pay for it.

Furthermore, you should investigate current trade-in values for your type of car. You should take note that used car market can be very unstable and major price swings can occur within days or weeks. Your investigation should cover transactions that occurred within the past 90 days so that you will be able to analyze a wide range of information properly.

A majority of dealers base their bid on the wholesale marketplace that buyers do not have quick access to. Dealers will not pay higher for cars that they can get at reasonable rates at wholesale markets because they want to make profit. This should be factored in when deciding on the best price to come up with in order to sell your used car for cash.

It is also essential to spend some time and energy to improve the condition of your car in order to enhance its value. You should make it as attractive as possible because that is the first thing a buyer will see. If there are any scratches on the body, you should let them be properly fixed by an expert. However, you should not spend more than 3 to 5% of the estimated value of the car on improving its condition because you may not be able to recoup more than that level of expenditure.

You should approach dealers and ask them to bid for your car. You can get in touch with about three dealers in order to have good options to choose from. If there are independent used car dealers in your area that specialize in your brand, you can get their opinions as well, so that you will have an accurate idea of the marketplace.

No comments:

Post a Comment