More and more people today are switching towards buying and selling things online. For instance, consider the used car buying and selling industry. Through the internet, it is quite easy to sell any car online, and that too in a highly competitive environment. This means that the seller does not only get more offers, but he is also able to secure the best one. However, even though the internet is a great way to sell any car online, it has its own set of pros and cons. In this article, we discuss some of the best tips and advice to sell any car online that every car seller must be aware of.
But before moving forward, let us first review some of the key factors that give a clear edge to selling any car online vs selling it offline.
Sell any car online vs offline
Before the internet became the most preferred way to sell any car online, other conventional less effective methods were used.
For example, putting a “Car for Sale” note on your car window with your contact number on it. Then driving around some busy area or simply parking your car at a place where it could get maximum attention.
Another method used was to buy a classified advertisement in your local newspaper, preferably on weekends. This meant ruining your weekend to assist interested buyers with phone calls and inspection requests.
Some people even used the popular Craigslist to sell their cars. But Craigslist is mostly pursued by buyers looking to pay less for the best deals.
Although all these ways to sell any car could potentially reach a huge audience, they remained highly ineffective. In most cases, days and days went by before even any prospective buyers showed up, let alone make an offer.
Online car buying services today, and tips and advice on using them
One of the fastest methods to sell any car online today is to contact a car buying service. The working mechanism of these online car buying services is designed to make the entire car selling process convenient and fast for the sellers.
However, not all online car buying services tend to be focusing on this approach. Therefore, while considering using an online car buying service, make use of the following tips and advice.
Understanding the online form
Any online car buying service will initially ask you to fill in an online form first. Then based on the information you provide; the website will make an estimated offer.
This step should concern you with –
- How reliable does the price seem?
- How close does the price seem to any other offer or fair market value that you have come across?
- Is the form asking for enough information for price evaluation?
- Does the form lack on asking any potential price influencing factor which may later significantly impact the actual offer upon physical inspection of the car?
How long does the offer remain valid?
Surely, you do not want to accept the first offer you get and would want some time to receive more offers. So, is the car buying service willing to prolong the expiration timeframe for their offer, is something you need to ask?
Also, during this time you might get a better offer. So, is the company open to negotiate or beat that offer or not?
How realistic is the offer from the car buying service?
Car buying services usually use an algorithm and AI models for predicting the instant price of a car. But how reliable is such an offer and how much can you trust it, should be your main worry as a seller?
This is because the data being used by car buying service may not be updated and chances are that a far better offer might be awaiting you but with a different buyer.
How much is the time length between the initial estimate and the final offer?
Getting an online estimate for your car only takes a few minutes. However, the inspection could take some time during which much could happen. So, how long should you be waiting?
For example, you might get an offer in the meantime. Should you take it or leave it based on expecting a better offer from the car buying service? What if the car buying service`s offer turns out to be less than what you rejected? Are they open to negotiate and beat it or not?
Payment handling
How will you get paid and when? Many car buying services offer instant cash or money transfers to the seller`s account, but this might not always be the case. For example, in case you are simultaneously buying a car as well, you will need urgent funds to secure the deal, or you might lose it.
Look for customer reviews
This is perhaps the best thing about the internet. You can easily check ratings and read reviews from previous customers of any online car buying service. This helps a lot in making the right decision.
