Best way to sell car (aka highest price)

[Tvios]

Hi,

 

Just wonder, what do u guys think is the best ways to sell car so that I can fetch the highest price. Will some dealers able to match the price equivalent to selling direct?

 

The problem about selling direct to buyers is the transaction of money, car test drive etc...

 

Unwilling to part with my almost 3 yrs civic but my car is under utilised nowadays.

[VellfireS]

Hi,

 

Just wonder, what do u guys think is the best ways to sell car so that I can fetch the highest price. Will some dealers able to match the price equivalent to selling direct?

 

The problem about selling direct to buyers is the transaction of money, car test drive etc...

 

Unwilling to part with my almost 3 yrs civic but my car is under utilised nowadays.

 

prepared for a lot of PMs...

[Tvios]

Any bro here has sold the car himself direct to another buyer? Is it safe and hassle-free ?

[Fastfive1]

Any bro here has sold the car himself direct to another buyer? Is it safe and hassle-free ?

 

Haha it's in no way hassle free.

Problem lies with the fact that most people need to take a loan to finance the car.

 

Situation 1.

Let's say that your car is paid in full and you've found a buyer. However the buyer needs a loan. That's when the hassle starts. Firstly, he needs to secure a loan from a finance company. Second, it's about whether the loan gets approved by the bank. If the loan gets approved, then you and the buyer are happy. However if it doesn't, then you're screwed as you'd have to find another buyer.

 

Situation 2.

Let's say that your car is not paid up and you want to sell it to someone who also needs a loan. This is when you'll face a bigger problem. The time spent running around just to settle your outstanding balance, blah blah will be tremendous. In the end it may result in the car still end up not being sold because the buyer may not get his loan approved.

 

Ultimately it really depends on how you want to get rid of your car. If i'm in need of fast cash and don't mind losing a bit of money to save myself the hassle, then go to a dealer. However dealers may see this as an opportunity to screw with you if your car is still on loan. If you've got all the time in the world, then sell it yourself.

[Gee]

Direct seller and buyer can use SGConnect to facilitate the transaction.

Cmiiw.

[Sosaria]

No free lunch in this world. It's not a hassle if you see it worth. If you find it a hassle then better don't sell to direct buyer. Best is settle your own loan first. Sell to dealer be prepared to lose at least $5k off the market rate, but it will be mostly hassle free.

 

Wow, your figure is quite on the mark. Recently sold mine, and really about 5k lopped off (based on selling prices of cars I see online, of the same make and age).

 

Selling to dealer saves a lot of hassle certainly; just got to "trust" them to handle the paperwork for you - which can be quite scary, IMHO. But I guess it's even scarier to be a buyer

 

By the way, any bros know how long it takes to transfer ownership of vehicle (to company ownership if sold to dealer)? I know got to be done within 7 days by law. But does LTA update their records instantly? Or takes some time? The dealer very quickly gets transaction PIN, and then?

[MTRAC]

 

There are three ways to sell yr car.

1. Sell to dealer. This is the fastest way but yr price wont be good. Find a good name otherwise you might

might have problem getting back whatever monies left.

2. Sell on consignment... ask dealer to sell at yr price. Some might ask for a commission, while other try to sell higher

than yr asking price, they make the excess. Of course if your asking price is too high, nobody would be interested.

3. Direct sales, you can advertise at whatever price you want. Hope u get a sucker. This is most troublesome becos

you might get alot of enquires for 'yr best price', some want test drive but no intention to buy etc..... If you find a buyer, you can

engage SGCARMARt or a dealer who is wiling to do all the paper work for free provided buyer takes loan. SCcarmart gives rebate to both buyer and seller. If you advertise in SGCARMART, you will bound to get sms for this service from many dealers.

[Alheych]

Haha it's in no way hassle free.

Problem lies with the fact that most people need to take a loan to finance the car.

 

Situation 1.

Let's say that your car is paid in full and you've found a buyer. However the buyer needs a loan. That's when the hassle starts. Firstly, he needs to secure a loan from a finance company. Second, it's about whether the loan gets approved by the bank. If the loan gets approved, then you and the buyer are happy. However if it doesn't, then you're screwed as you'd have to find another buyer.

 

Situation 2.

Let's say that your car is not paid up and you want to sell it to someone who also needs a loan. This is when you'll face a bigger problem. The time spent running around just to settle your outstanding balance, blah blah will be tremendous. In the end it may result in the car still end up not being sold because the buyer may not get his loan approved.

 

Ultimately it really depends on how you want to get rid of your car. If i'm in need of fast cash and don't mind losing a bit of money to save myself the hassle, then go to a dealer. However dealers may see this as an opportunity to screw with you if your car is still on loan. If you've got all the time in the world, then sell it yourself.

 

in most scenarios though, in my opinion, the hassle is still worth more than 5k.

[Rayoflight]

There are three ways to sell yr car.

1. Sell to dealer. This is the fastest way but yr price wont be good. Find a good name otherwise you might

might have problem getting back whatever monies left.

2. Sell on consignment... ask dealer to sell at yr price. Some might ask for a commission, while other try to sell higher

than yr asking price, they make the excess. Of course if your asking price is too high, nobody would be interested.

3. Direct sales, you can advertise at whatever price you want. Hope u get a sucker. This is most troublesome becos

you might get alot of enquires for 'yr best price', some want test drive but no intention to buy etc..... If you find a buyer, you can

engage SGCARMARt or a dealer who is wiling to do all the paper work for free provided buyer takes loan. SCcarmart gives rebate to both buyer and seller. If you advertise in SGCARMART, you will bound to get sms for this service from many dealers.

 

Thumbs up for this.

 

Basically he covered everything.

 

I just sold my autowrx to a direct buyer and the process was easy & smooth because i have someone who did the paper work/insurance/loan etc for the new buyer and myself.

 

Downside is that you probably have 10-20 viewers who said they are highly interested but in the end put aeroplane. Well, of course i did understand this and thus would say the same thing myself i were to buy a car.

 

I was probably lucky, managed to sell the car to my 5th viewer at my desired price and still well about 8k of what dealers are willing to take in.

 

First thing i asked them was.."Have you gotten a insurance qoute for a WRX?" and of course their age/ncd etc. If not, dont waste time to test drive if you are not comfortable with high insurance premiums.

 

Dealers are worst, they are not called blood suckers for nothing. Wanting to take in my car at almost 10k-15k off "market" price. Of course, i told them to screw off.

Edited November 26, 2012 by Rayoflight

[RadX]

Any bro here has sold the car himself direct to another buyer? Is it safe and hassle-free ?

 

 

yes. For 3 of my cars. of course, u get the mother cb dealers guising as private buyers....straiught away u can smell them.....ccb dun understand english when i say private buyer

 

i was lucky in that most of my buyers in end genuine and strong footing, etc.

[Kar_lover]

Any bro here has sold the car himself direct to another buyer? Is it safe and hassle-free ?

 

The best way to maximise is probably using consignment sales like sgcarmart direct assist. If i am not wrong, they take $700 or 1% of selling price (whichever is higher). They settle everything for you, take photo, put up on sgcarmart, handle all enquiries, etc. You can choose to leave your car with them or take it home. They will help buyer with getting a loan and settle all paperwork. The only thing is not sure how long you have to wait before you can find a buyer and you will need to have enough money to do full settlement with your bank. They can also help you do your full settlement upon sale (i.e. they use the buyers' purchase money to pay off for you so you don't need to have cash upfront) but that one got extra fee.

 

I also know a dealer who is quite good and honest. He gave me $68k compared to AD who offered me $64k. My expected selling price (if i had sold on consignment) was $70-$71k. So for me, i felt the $2-$3k was worth to give him to take the car off my hands. Very fast and totally fuss free. As long the car still on your hands you need to continue paying road tax and insurance so in a way this is also part of the consideration. If your RT/Ins ending soon, might now be worth to renew so quickly get rid of it.

 

 

 

[Wyfitms]

how about trade assist? Anyone used their services before?

[Kar_lover]

how about trade assist? Anyone used their services before?

 

Oops...sorry the one i was describing earlier is trade assist.

 

I considered using them but in the end decided to sell to the other dealer who gave me quite close to the price i would have asked for if i had sold by trade assist.

[Cowpeh]

Thumbs up for this.

 

Basically he covered everything.

 

I just sold my autowrx to a direct buyer and the process was easy & smooth because i have someone who did the paper work/insurance/loan etc for the new buyer and myself.

 

Downside is that you probably have 10-20 viewers who said they are highly interested but in the end put aeroplane. Well, of course i did understand this and thus would say the same thing myself i were to buy a car.

 

I was probably lucky, managed to sell the car to my 5th viewer at my desired price and still well about 8k of what dealers are willing to take in.

 

First thing i asked them was.."Have you gotten a insurance qoute for a WRX?" and of course their age/ncd etc. If not, dont waste time to test drive if you are not comfortable with high insurance premiums.

 

Dealers are worst, they are not called blood suckers for nothing. Wanting to take in my car at almost 10k-15k off "market" price. Of course, i told them to screw off.

 

Is yours a black autowrx with 3 digit number plate? lol..

[Loki]

Only one of my previous cars was sold to a direct buyer. Very easy transaction because I did not have a loan and the buyer was paying cash. So, met him in LTA to do the transfer over the counter and at the LTA counter, he gave me a wad of cash and I signed the forms right away.

[Rayoflight]

Is yours a black autowrx with 3 digit number plate? lol..

 

Unfortunately..not..haha

[Finclk]

Hi,

 

Just wonder, what do u guys think is the best ways to sell car so that I can fetch the highest price. Will some dealers able to match the price equivalent to selling direct? The problem about selling direct to buyers is the transaction of money, car test drive etc...

 

Unwilling to part with my almost 3 yrs civic but my car is under utilised nowadays.

 

Bro, you ask this kind of question... dealers also need to make money leh. Most of them need to make at least 5-6k minimum for cheap cars.

 

Adv of selling to dealer is they have financial size to buy your car and arrange paper work. Also good for less popular cars which has very little liquidity. I'll no longer touch unpopular cars no matter how much i love them - daihatsu, opel, renault etc.. low vol brands really cannot make it when it comes to resale value. Popular brands like Toyota, honda, hyundai, kia, mercedes, BMW, Audi, volkswagen etc. Will see higher prices and more liquidity for your car when you put it on sale.

 

Also important to have the transfer done asap. I prefer to do the transfer at same time with money being handed over whether i'm the buyer or seller.

 

Always safe that way.

[Ghostrider]

Because WRX are not easy to get rid off...I have a dealer friend who got stuck with a STi for 9 freaking months...so its normal that they will rip off the owners.

 

Rex IMHO is best sold off yourself...or sell it when change car and squeeze for high trade in. Some dealers offer very good trade in...may not be the best price you may secure but hell better than most dealers offer.