Selling your car to a dealer, have you thought about it?

Category: Archive
Tag: #finance #Finance Valuation of assets Vehicles Selling #valuation of assets

Have you decided to sell your used car but don’t know how? You could sell it privately, perhaps through online ads, or go to dealer networks. The conditions created by the Covid-19 pandemic in the used car market have seen a narrowing of the offer, giving car intermediaries greater bargaining strength on the price; but, given the uncertainty that still seems to be present in American families on the propensity to spend, the growth of the used car market is far from fading.

What is the value of your used car?

There are really many web portals able to quote the value of your car (Kelley Blue Book, National Automobile Dealers Association, Consumer Reports), quickly; keep in mind that the quotes received do not correspond to a potential purchase price for your car. Therefore, do not go to the dealership demanding these figures, since, in the direct evaluation phase, ie live, a whole series of technical defects could emerge that will certainly discount the final value. Therefore, the advice is to be honest when describing the general condition of your vehicle in detail. A last variable, often difficult to define, is linked to a set of very particular factors, often linked together: climate, geographical area, typical weather conditions, fuel prices and demographic aspects can create dumps in the value of a car. Cars that are on average popular in some geographical areas may not have great results in other areas, due to the specific characteristics of the vehicle, but also due to the external variables just mentioned. Therefore, the evaluation of your car should be made taking into account the specificities of the local market where you live and intend to sell the car.

Before going to a dealership, you would do well to check the history of the car, to know in advance any previous problems. These detailed reports, proposed by companies such as Carfax and AutoCheck, will help you to dispel doubts about possible accidents or problems of a bureaucratic nature, so that you can present yourself to the possible buyer, dealer or private, with precise and confirmed information, on which the the counterparty will not have to raise other concerns.

Getting Instant Cash Offers

If you want to sell the car quickly, you might be interested in receiving an ICO (Instant Cash Offer) from specialized companies, who will give their evaluation – for a limited time – based on your description. Obviously, they will reserve the right to change the amount offered, if the actual conditions of the used car do not correspond to its description.
What are these dealerships? Carvana, AutoNation and CarMax above all, but there are many companies that can offer you a check for your car. Here, it costs nothing, therefore, to contact several subjects, absolutely free of charge, and get an offer: if satisfied, you will close the sale very quickly, although the profit margin that these dealers put into account for their purchase and sale transaction makes the check received a little lighter.

Published: 2021-01-22From: Editorial staff

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