It’s widely accepted that you’ll get more money when you sell your car yourself, rather than trade it in or sell it via dealership or consignment.
However, while it’s true that you can get top dollar for selling your vehicle privately, the process can be a hassle—dangerous, even. After all, in more chances than not, you’ll be inviting strangers to your house and handing them your car keys for a test drive. What’s more, it also puts you at risk of running into errors that could unnecessarily hike up your costs.
Regardless of your reasons for parting with your vehicle, we strongly advise against selling your car in Singapore on your own—and we have valid reasoning to do so. In this article, we highlight some of them but, before we discuss why you shouldn’t sell your auto yourself, we run through the benefits you could get with doing so.
Profit Potential – You can set the price and will most likely get more money for selling your car privately as there is no dealer who’ll take a cut from the deal.
Room for Negotiation – You can always negotiate a price with a private buyer and easily say no if the price being offered to you is too low.
Availability of Listing Sites – The many sites where you can sell your car allows you to get your car in front of potential buyers, all you have to do is to upload photos and provide details of your vehicle.
While these advantages are attractive, they remain outnumbered by the reasons why you shouldn’t go the DIY way.
The Problems with Selling Your Car Privately
1. Lack of understanding of the procedure
The process of selling your car can be quite lengthy and complicated. It involves tons of paperwork—title transfers and purchase agreements, to name a few. Unless you’re well-versed with the paperwork and procedures involved, it can be a frustrating experience to sell your car by yourself. What’s more, it can also be costly in itself, which is another factor you should consider.
On average, it takes about 35 days to sell a car privately. In addition to the time it will take to put up an advertisement, you’ll have to wait for the time when a potential buyer will actually come knocking on your door. It’s the reason why if you’re looking to sell your car fast, doing it by yourself may not be the most practical option.
3. Dealing with Potential Buyers
Besides the pre-sale car preparations—paperwork, repairs, advertisements, etc.—you might also find negotiating with potential buyers stressful. Because you assume the role of a dealer, you’ll be the one to liaise with them and set a time for viewing and test driving. All these can take a significant amount of your time when you’re already struggling to achieve work-life balance on a daily basis.
4. Meeting with Strangers
No one in the right mind would invite a stranger into their home. But, when selling your car, it seems that you actually don’t have a choice. You never know who you’re dealing with and to be more particular, you don’t know who you’re giving the wheel to for a test drive. For sure, you wouldn’t want to risk your safety just to potentially get more money for your used car.
5. Engage with Scammers
When selling your car, it’s not only strangers you’ll possibly meet but scammers as well. They will not only waste your time but will also lure you into believing they’re legitimate buyers. For your safety, make sure to insist on meeting in person and transact only through the bank. Better yet, turn over the task of selling your car to a professional dealer in Singapore.
With private car sale, you’re practically on your own. For the potential buyers’ point of view, they might not be so confident with dealing with you as they are with a reputable car dealer. With a dealer, they have the guarantee of a safe environment and often, a warranty for their protection. All these factors can further slow down the process.
Sell Your Car with SGCarTrade
These cases are merely but a few scenarios that you may face. But, selling your car doesn’t have to be difficult and risky when you can sell it through a dealership with SGCarTrade.
Here at SGCarTrade, we guarantee the highest-selling price for your vehicle by getting it in front of over 100 dealers. We handle the selling for you so you don’t have to! It means you get to enjoy a convenient, hassle-free car sale experience so all you have to worry about is what car you’ll buy next.
Sell your car today! Visit our website today.