If your car is still operational and has a lot of value under the hood, you might want to consider selling it to a car dealer.
We spend a lot of time talking about junkyards on this site and if you have an old, beaten, and rundown vehicle, it is the best option. But when you're looking at much more than scrap metal, salvaged parts, and a few hundred bucks, selling your car to a dealership begins to make more sense.
With that said, let's look at a few key factors to consider and delve into the process of selling to a car dealership.
Should You Sell Your Car to a Dealership?
There are several options for selling your car. The right one for you will depend on a number of factors. We have already compared and contrasted these things in the past, so we won't get into it again. However, it can generally be condensed into the following:
- Sell a Car Privately: You will get more money but it's also the most time-consuming and stressful. You will need to create seller listings and deal with buyers, all while avoiding scammers.
- Sell a Car to a Junkyard: The quickest and arguably best solution for selling an older car and a car that has been totaled or is otherwise past its best.
- Sell a Car to a Dealer: If your car is not quite decrepit enough for a junkyard, you can't be bothered with the hassle of a private sale, and you want a quick and easy process, that's where dealerships come in!
How to Sell Your Car to a Dealership
The first step in selling your car to a dealer is to understand its value. Check with Kelley Blue Book to determine how much it’s worth, preparing you when you're offered a cash amount or trade in value.
The amount listed on Kelley Blue Book isn't necessarily the amount that you will receive, but it will give you an idea of how much your car is worth.
The next step is to find a suitable dealership, head down there, and speak with the dealer. Tell them that you are there to sell your vehicle and if you're not interested in buying a new car from them, make it clear that you don’t want a trade in.
A trade in will usually get you more money for your car, as it gives them more options, but if that's not what you're interested in, it'll save you some valuable time.
The dealership will run some checks on your car. The process is usually quick, though, and it will culminate in an offer.
Accepting an Offer on Your Vehicle
The dealership will offer you a sum based on the market value of the car, as well as any expenses that they need to pay to bring it up to scratch. The car will likely be sold at auction, and so they will always try to guarantee a profit, keeping the price low so that they can stay in the black even if things don't go their way.
It's also worth noting that all dealerships are different. If you want the best price when you sell your car, or you suspect that they are not giving you the true value, you can look elsewhere.
Just bear in mind that the process of acquiring multiple quotes from different dealerships is not quite as easy as phoning a few junkyards. It's time-consuming, and you will be forced to earn those extra few bucks.
The easiest way is to use online services like Peddle and CarMax, make a note of their offers, and then compare them to the ones that you receive from car dealerships.