Selling your car is definitely not an easy thing to do. Like any big decision related to money, there’s a lot of facets that need consideration and careful thought. Selling your car can be easy, fast and fair or unnecessarily complex and time consuming depending on the road you take.
Everyone selling a car is hoping to get to the same final destination: getting a good price for their vehicle in as little time as possible, while feeling safe, and comfortable.
There are a lot of challenges getting there, however.
1. It takes a lot more time and effort than you think
Most people who sell their cars privately are surprised at the amount of time and effort it takes. Selling your car privately means that finding prospective buyers, scheduling test drives, conducting financial negotiations, and dealing with paperwork is all up to you.
Sales process variables that take up the most time:
- Creating ads or listings
- Researching value online
- Showing car/test drives
- Communicating with buyers
- Financial negotiations
- Understanding rules/paperwork for private sales
2. Safety is an issue
While stories of private car sales going awry are rare, there’s still a risk factor when it comes to meeting someone you don’t know. More so, when it comes to selling something like a car.
Some common safety concerns amongst car sellers who had a negative experience when selling their car privately:
- Meeting in an unsafe location
- Allowing a stranger to test drive car
- Aggressive negotiations or sales tactics
- Illegal or suspicious financial dealings
- Health concerns
- Covid-19
3. Negotiations and closing a sale
Sales isn’t easy. The effort and complexity required to sell a car is often underestimated by those who choose to do it privately. For most, the process of selling a car privately is wrought with stress, anxiety, and confusion.
Some of the business challenges that may arise when you sell your car on your own, include:
- Negotiating price
- Ownership transfer and taxes
- Not getting fair value
Most people will also lament at the time wasted on negotiations that ultimately fall through and incessant hagglers who end up not buying.
The better way to sell your car you ask?
Tentative about how to go about selling your car? Have you already tried to sell your car in every which way to no avail? Maybe you’ve had a bad experience trying to sell your car (a fender bender during a test drive does not bode well for future sales price).
If you’re in the process of conscious decoupling with your current vehicle and some of the things we’ve indicated above resonate with you then check us out.