3 Ways Which You Can Sell Your Car In Singapore
There are times when you may need to let go of your trusty car, for another one which may suit your family needs better. There are a few ways which you can let go of your vehicle.
If your car is near the time to scrap, you may consider going down that road. We did talk about the process recently, but what if your car still has a number of good years ahead of it, and it would be more profitable to sell it, here are a few things you will need to know.
Depending on what you own, the demand for the car plays an important role in how much you can ask for. On the flip side, there is also demand for something good and rare. Other variables you will need to keep in consideration are things like mileage, condition of running gear and body panels.
Your car’s residual COE price might also play an active role on if your car is easy to sell, depending on the prevailing COE price. Buyers may find sense in buying a new car instead, if your car is rather new, and was bought with a high COE. The PARF value of your car, can command a higher asking price.
If both the COE and PARF price of your car is too high, you may want to consider deregistering your car for scrap, as you may actually receive better returns.
Just as a reference, here is a table to give you a clearer picture of what your residual PARF value will be like each year.
Less than 5 Years
Logging into car portals like our used car page will give you a clearer picture about how much you are able to price your car.
You may go it yourself and find a buyer on your own. While there is more work involved, you may be able to get a good deal. But this is dependent on your research.
Additionally, you will need to do a transfer of your vehicle directly at LTA, and be ready with a letter of transfer. Your buyer must have on him his insurance he bought for your vehicle, and both parties must produce identification at LTA. More details here.
If you are not able to afford the hassle, there are always dealers who are able to assist in helping with all transactional details, and will also help with finding a buyer. But you must also do your research to find the best one suited for you, and the car you own. For instance, if you do own a unique or vintage automobile, there are dealers who would specialise in providing you with a correct valuation, which may go beyond on-paper value, factoring intengables like historical value, or tangibles like special engine or performance options, and how "mint" your vehicle may be.
While working with dealers, there is always that risk of pairing up with the wrong one.
We not only provide listings of available used cars, but we also lend a hand to those who may wish to find the best price for their vehicle.
With a wide network of automotive dealers, we assist in comparisons to provide sellers with the best deal. Click here to register your vehicle with us, if you wish to sell your car.