Private sales vs. Trade-in
Sometimes the toughest part of buying a new car is figuring out what to do with your present one. The two general choices people use to sell their second-hand cars are selling them privately or trading the car in. Both of these choices have their own pros and cons, and if the options are weighed up correctly, you can find the choice that perfectly suits your situation.
‘’With a private sale you generally would get more for the car than if you traded it in due to extra costs being saved, but then again, with a trade-in you don’t have to struggle with all the fuss like paperwork etc.’’, says Greyling du Preez (car salesperson at Auto Atlantic BMW).
‘’A lot of people choose to trade their car in because it’s convenient, or because they are trading it in for a newer model’’, states Du Preez. The price from a dealer will mostly be lower than what you’ll get for it in a private sale; however it’s a quick and easy process. The dealer looks at the car, you arrive at a price and a sale takes place. From then on, it’s the dealer’s responsibility (including anything that’s wrong with the car).
Even though trading your car in is the easier option, you don’t always have to completely ignore the option of privately selling your car. Mike Sinclair, car expert, states what he thinks about private selling vs trade-in:
Low mileage, well looked after popular models are easy to sell privately – thanks in a large part to some websites. Make sure you take great photos and in your ad be sure to describe why you think the car is a great buy. If you’re right and you’re realistic with your price – it’ll sell quickly.
As convenient as selling privately via the web is, if your car’s not a peach or you simply don’t have the time, then selling your old car to a dealer is usually quick and fuss free. You don’t have to spend your time waiting for people to phone and show up, there are no advertising costs and you’re not publishing your phone number for the world to see.
So, if your car is in good shape, selling it yourself may be more lucrative (if you’re willing to deal with some paperwork and people coming into your private space to view the product). However, if your car needs some fixing, it might be better to just trade it in. If you trade your car in, you won’t have to spend all that time and money repairing your car. “If your car has its share of scrapes and bumps or missing trim items, don’t waste money getting them fixed if selling to a dealer. Repairs that would cost a lot are likely to cost a dealer a fraction to put right”, says Sinclair.
Private selling can be a hassle, but it does pay off if you need that money to invest in a new car. Take it from me- I once sold my car on Gumtree hassle-free. The first person to call me came to meet me the next day, and within a day my car was sold without any problems. It all depends on what you want and the effort you’re willing to put in!