Are you thinking about selling your vehicle to a private buyer? While there will be more work on your end, it could be worth it. For example, did you know that you could take home an extra $1,000 to $2,000 – even if the car isn’t worth very much? By selling your car on your own, you can get retail price. Meanwhile, if you sell to a dealer, you’ll only get wholesale value, which is usually 10 to 20 percent less.
Below are four benefits of selling your car for cash. And once you have the cash in hand, make sure to start your search for a new vehicle at RepoFinder. We have a huge database of bank-owned vehicles ready for new owners. With our low prices, you can use the cash to cover the down payment – or perhaps the full price of the car!
1. Higher Payout
To get the most from your car sale, we recommend paying for detailing and other maintenance your vehicle needs. The money you get from the sale will offset this cost. Dealerships are businesses and need to make money, so they buy used vehicles at wholesale value. In a private sale, you can set your own price.
2. Quick Sale
While it’s true that you can walk into a dealership and trade in your vehicle in a single day, selling your car privately doesn’t take long either. And, you don’t have to sit in a dealership all day! With online advertising, you can target qualified prospects who are actually interested in buying your car.
3. Great for Specialty Cars
If you have a classic or specialty car, you can also benefit by selling your vehicle privately. These types of cars have niche buyers. You can use the internet to market your vehicle to the right buyers and potentially drive up the price. A dealership, on the other hand, will likely offer you less because the car won’t appeal to most of their buyers.
4. Control Over Negotiations
Most car sales involve negotiations, but when you’re selling your car privately, you’re in control. Of course, it’s important to be flexible in terms of price, but you also don’t have to accept low-ball offers. If you know the buyer is interested, you can both agree on a fair price. You have more say over the process than if you were to sell to a dealer.
These are four benefits of selling your vehicle to a private buyer. The main drawback is the lack of convenience. Rather than having the dealership handle all the paperwork, you’ll be responsible for it. And, you may have to deal with no-show buyers. The good news is that once you have the cash from your sale, you can use that money to buy a new car. Shop with RepoFinder today and find a bank-owned vehicle that suits your needs and budget!