Unless you don’t care what price you get for your car, selling can often be a long and drawn-out experience. This is especially true if you choose to sell privately – which often involves dealing with multiple potential buyers, going out on test drives, and haggling over the selling price – all with no guarantee of a sale at the end.
There are other options to private selling that are a lot quicker – but when you sell using these methods you often have to sacrifice money from the sale for the convenience of speed. In this article, we look at the four main methods of car selling, to find out which method will allow you to quickly sell your car – and achieve the best price for it.
What are the benefits of selling your car privately?
Selling your car privately can be done in several ways – from putting a car ad in a local newspaper to sticking up a note on the pinboard in a local corner shop. However, these days, most sellers use online sales platforms that will present their car ads to hundreds of thousands of engaged buyers.
Despite this, there are still no guarantees that your car will actually sell on these websites – and it remains one of the more arduous selling options. If you do use these online sales platforms, you will usually need to spend some time crafting an ad that will make your car stand out. Doing this properly will usually take some time – and you will also need to take great photos that properly showcase your car.
Assuming your ad gets responses, you will then need to spend time responding to calls and emails from prospective buyers to set up viewings and test drives. Private sales are very hands-on and can take time and involve a lot of admin. There’s also no guarantee that the sale will come off. However, if you do manage to sell your car via this method, it is usually the option that will get you the most money.
What are the benefits of part exchange?
Before the rise of instant car-buying websites just over a decade ago, part-exchanging was the common way of speedily getting rid of an unwanted car. Car dealers were usually happy to part-exchange a car if you were trading up to a new one at the same time.
If you’re keen to get your existing car off your hands and are willing to pay out for a newer model, part exchange can be a lot quicker and simpler than trying to sell your car privately. This is because you will usually avoid the uncertainty and hassle of dealing with potential buyers – and typically many timewasters.
However, the price you get part-exchanging a car is usually much lower than you would get from selling privately. This is because dealers will normally want to sell your car at an auction – and will, therefore, want to turn a profit. Also, as it is up to the dealer’s discretion whether to include your old car as partial payment towards a new one, it can be difficult to negotiate a better price. That said, it is usually a speedy option – if you’re not too worried about the money you get for your old car.
What are the benefits of instant car-buying websites?
It is usually a very quick option – and, as long as you are more concerned with offloading your car than the money you’ll get for it, selling with an instant online car buyer can be a good idea.
Simply enter your car’s details on the instant car buyer’s website and you’ll receive a valuation. Typically, this will be lower than your car’s true market value – as, once again, car dealers will be sending it for sale at an auction and the instant car buyer will offer you a low figure in order to increase their chances of turning a profit.
If you do choose this option, you will need to deliver your car to their nearest site for one of their mechanics to look over – and ensure that the details you’ve provided when you described the car are accurate. If the mechanic finds anything that you have not previously disclosed about the car –including superficial damage like dents and scratches – it is likely to impact your offer and the money you receive will be further reduced.
What option is fast – and gets you a good price?
Using Motorway is a quick and simple way of ensuring that your car enjoys healthy competition and provides you with multiple offers from verified car dealers.
If you choose to enter your car into a sale, it will then be shown to Motorway’s network of 5,000+ verified dealers. They will then compete to buy your car, offering you their best price.
In as little as 24 hours you will receive your best offer – and, if you choose to go ahead with the sale, your car will be collected for free by the dealer and the money will be quickly and securely transferred to your bank account.