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When it comes to selling your car, there are usually two options - Selling to a dealer or to a direct buyer. Do you think your car has a better sale price than what the dealers are offering, yet, you're put off by the tedious process?
Turn off your worries now and we're here to help you make an informed decision. If you're still in a dilemma, here are five things for you to consider before you sell your car to a direct buyer.
1. Selling to a Direct Buyer Can Fetch You a Higher Price
When you sell your car to a direct buyer, it is usually, sold as its current condition, without refurbishment, and not protected under any warranty. However, when dealers buy your car to resell as a second-hand car, they are usually refurbished to showroom condition and protected by a 6-month warranty, under the Lemon Law. That explains why dealers typically buy your car below the market price to factor in repair works and refurbishments!
2. Depreciation Is a Reality
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It usually takes 4 to 8 weeks to sell your car to a direct buyer. It is inevitable that your car value will decrease during this period. To avoid selling your car at a loss due to the high depreciation rate, you can first conduct your own research to gauge the interest in your car. Alternatively, another quick and simple method is to seek help and advice from a consignment agent with the knowledge and expertise.
3. You Can Continue to Drive While You Look for the Best Deal
Selling your car to a direct buyer is especially beneficial if you don't have a spare vehicle. You can still keep the ownership of your car while your car is listed for selling!
4. Beware of the Long and Painful Process of Paperwork
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Without a dealer, everything has to be done by yourself. Either party has to be clear of the procedures involved, or else you might get lost in a sea of paperwork!
5. Hire a Consignment Agent to Sell Your Car to a Direct Buyer
Do the perks of selling your car to a direct buyer sound enticing but you feel intimidated by the time-consuming process? Selling your car through a consignment agent allows you to enjoy the benefit of a higher sale price without having to suffer the painstaking legwork and paperwork. The agents at Motorist.sg will manage the entire sale process for you. All you have to do is to relax at home and await good news! To get started, call us at 6589 8800 for more advice
Alternatively, list your vehicle on Motorist's newly launched Used Car Listing page! Why? Being the first of its kind, the page connects potential buyers directly to the sellers for the hassle-free experience you deserve.
I want to find the highest selling price for my car within 24 hours!
Download the new Motorist app now. Designed by drivers for drivers, this all-in-one app lets you receive the latest traffic updates, gives you access to live traffic cameras, and helps you manage LTA and vehicle matters.