Selling my car to a used car dealer vs Selling my car by consignment
Are you are thinking of changing your car and wondering what to do with your current ride? Should you sell your car to a used car dealer or put it up for consignment? Here we’ll compare these two methods for your consideration.
Before you sell your car, you will have to decide how much you are willing to sell your car for. This takes into account your car’s OMV, ARF, COE, mileage, and the condition of your car.
Then, how much effort and hassle are you willing to put in to sell your car? Some of these processes of selling the car involve answering calls and whatsapp messages, driving the car to the workshop, and driving it down to a potential buyer.
Finally, what is the timeframe that you are willing to spare to sell your car? Do you need to sell it at the earliest instance because your new car is coming next week? Or can you afford to wait for at least a month before your car is sold?
With these 3 factors, you will need to choose 2 in which you priortise. For instance, if you priortise time and ease of process, you’ll probably need to forgo a little in terms of the return. If you priortise return and time, the processes in which you’ll need to undergo to sell your car may become more complex.
If you need to sell your car in the shortest time possible, selling it to a used car dealer would be your best bet. Although it may not grant you a huge return of your vehicle, it definitely saves you a lot more time, effort, and hassle as compared to all other ways of selling your car. The reason why a used car dealer often buys your car at a lower price than how much they sell it in the used car market is that they will have to repair and touch-up the car, and earn a decent profit for themselves.
Ever wandered to the used car mart? You’ll see a row of beautiful and shiny BMWs, Porsches, Mercedes, et cetera that hardly ever seem like they were used cars! As much as we want to psycho ourselves to say that we have to look beyond the exterior appearances of a car, the first impressions do help in deciding whether you would want to buy that particular car.
If you still have an outstanding bank loan, the used car dealer will also help to factor that in and help you with that transaction. Save yourself from all that paperwork as the used car dealer will handle them all! At the end of the day, you can expect to get your returns from selling your car in about 3 days.
As a guide, you’ll need to get at least 3 quotations from various used car dealers to compare and get the best deal. Otherwise, you can use Oneshift’s Swiftquote service to help you find the best possible price from our carefully curated network of used car dealers. This saves you more time and hassle to look for those 3 quotations and you can then decide if you would like to proceed with the highest quote to sell your car.
Read more about how to sell your car to a used car dealer.
- Time efficient
- Process efficient
- Less returns as compared to selling by consignment
If your main priority is getting the most money out of the transaction and you don’t want to spend so much effort on the paperwork and processes of selling your car then selling by consignment is a mid-way hack. Leverage on the knowledge and experience that car consignment dealers have to sell your car. Car consignment dealers will help you with the selling of your car from photographing the car, listing it on portals like Oneshift, and help you with all the necessary paperwork. Because they will sell at the price you want, you can get more returns out of your car as compared to selling to a used car dealer.
That being said, since the car will only be sold off once a buyer is found, this way of selling your car would involve more time as compared to selling your car to a used car dealer. Do also be mindful that you may have to drive your car down to meet potential buyers and that could take up some of your time as well.
Oneshift can also help you to connect with car consignment dealers and give you the highest car consignment quote!
To find out more about consigning a car, read: Everything you need to know about consigning a car.
- Greater returns as compared to selling your car to a used car dealer
- Process efficient
- More time involved as the car consignment dealer will need to advertise your vehicle and wait till a potential buyer is found
So there you go, we hope that this helps solve your dilemma on which to choose between these two methods of selling your car. At the end of the day, whichever mode of selling your car depends on your individual needs and wants. Do take everything into consideration before making that judgement call. Happy car selling!