Selling your car privately can sound really appealing upfront because, who doesn’t like getting the best deal they can? However, the other things that you have to consider are; how much value do you put on your time, and, how much risk are you willing to take.
Just because you can make an extra buck on selling privately, doesn’t mean you should. Here are seven benefits to selling your used vehicle to a dealership that you can’t overlook.
1 – You Don’t Have To Wait
This is a big one. With how quick inventory has been moving. If your next car purchase is contingent on selling your current vehicle you may not have the time to wait on that perfect buyer to offer you the best price.
2 – Save Time & Energy
Are you a used-car marketing pro? If not, you will need to learn how to list your vehicle and sell your car by putting in all the hours to do so. It’s a lot, especially if you live in a location with a competitive market and you’re trying to get the best price possible. On top of all this, you have the added time of scheduling appointments, showing your vehicle, and allowing people to test drive it. Selling your vehicle privately can be a headache to say the least. So consider, how much is your time worth to you?
3 – There’s Less Back & Forth
Dealing with buyers can be DIFFICULT. Just like how you are trying to make an extra buck selling privately, the buyer is trying to save an extra buck buying privately. Therefore, be prepared to negotiate. Nearly every single person that comes to you will be trying to talk you down in price.
4 – You Get A Trade-In Tax Credit At A Dealership
Did you know you can get a tax deduction on your next purchase by selling through a dealership? This alone can make up for the lost profits of selling to the dealership. It works like this; if you’re buying a $20,000 car and trade-in your used vehicle for $8,000 dollars, you will only be taxed for the $12,000 difference on the new vehicle purchase. By not selling to a dealership, you risk this deduction and generally make it more complicated.
5 – The Paperwork Is Done For You
When transferring ownership of a vehicle, the paperwork can be a nightmare. You have to deal with the title, registration, any sort of lean on the vehicle, etc. At a dealership, they have the resources to take care of all this, quickly and easily for you.
6 – There Is Less Risk At A Dealership
Selling a vehicle is a big transaction to handle without standard business resources. There’s a larger risk for fraud, and if you are subject to fraud, it’s harder to remedy yourself as a private seller. It is especially difficult without any type of seller’s insurance. On top of this, you have the added risk of exposing yourself to more strangers. If selling privately, be sure you show your vehicle and make the sale in a highly-populated and well-lit, location, like a dealership!
7 – There Is Added Legal Protection At A Dealership
If you sell your vehicle, and it breaks down after the sale, you could be held liable for this. When you sell it to a dealership, generally you’re protected from any sort of legal action after the sale happens. Ensuring when you’re done with the deal, you’re actually done with the deal.
Check out our blog on the best used SUVs of 2021 if you’re interested in making a purchase!
