When you’re planning to buy a new car, disposing of your old one is all part of the process. Should you sell your car to a dealership or privately? That’s the question we’re tackling today.
Our auto loan team outlines whether or not you should sell your car to a dealership by listing the pros and cons!
Should you Sell your Car to a Dealership?
Not that long ago, when it came time to get a new car, you typically had two options. If you wanted the most money, you sold it privately. If you wanted an easy life without the associated hassles of selling privately, you traded in or sold to a dealership.
That line is now been muddied. Thanks to the strength of the used car market and the need for more inventory, dealerships are now paying more than ever for good quality used cars.
With the old distinction now a thing of the past, we need to look at the decision of where to sell in a different light. Hence, the pros and cons list.
Pros of Selling your old car to a dealership
Quick and simple – Whether you’re selling a car and not buying one, or trading it in, selling to a dealership is quick and easy. It can be done in less than an hour from the comfort of the dealership. You might even get a coffee while you wait!
Risk free – There are perils with selling privately and while not every sale ends badly, there are definitely risks. There are no such risks when selling to a dealership.
Fast, guaranteed payments – We typically pay through the bank or as part of a new car purchase. No bounced cheques, no credit reversals and no risk to your money.
We buy most cars – As long as your car is in good condition, saleable, not a custom car or modified, we will likely buy it. We will inspect the car when you bring it to us and offer a fair price if we want it.
Dealing with professionals – No tire kickers, no test pilots, no hard negotiating and no bullying tactics to get you to take less. We deal fairly and transparently.
Cons of selling your old car to a dealership
Slightly less than private sales – We can afford to offer more than ever for used cars but we cannot yet hit market rate. We need to cover the expenses of reconditioning, checking and repairing the car before selling it. That has to be paid for somehow!
We don’t buy modified, custom or classic cars – If you drive a custom, self-built, modified or classic car, you’re better off selling those privately. We just don’t have the market for that kind of car so would struggle to sell it.
The automotive industry is changing a lot and quickly. The old ways of working are disappearing. Better prices at dealerships, online car sales, home delivery and other changes are making the entire process work better for customers.
We like these changes and will embrace as many of them as possible!
For those of you who know that you have a challenging credit situation, please visit Dixie Auto Loans where we have a team of credit specialists ready to help you get approved for a car loan today!
For any questions or concerns, please don’t hesitate to contact us here!
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