‘To sell my car online, part-ex or privately?
It’s inevitable. There comes a time in every vehicle owner’s life to sell the car. But with so many options available these days with the growth of the online car buying market, it’s hard to know what’s best for you.
Traditionally, if you want to sell your car, the only way you would do it would be privately (on your driveway or the roadside) or part-ex (at a dealership or local garage).
When it comes to selling a car, the car buying service online will always offer the fastest cash payment with the additional benefit of peace of mind versus selling privately.
The price you get, the service and security all vary depending on which route you choose to go down.
Selling a car privately
The private sale is the old-fashioned way of getting rid of your car, particularly when you’re dealing with one that’s quite old, typically up to the value of £2,000.
In terms of advantages, selling a car privately will often get you a little more money. However, when looking to sell a vehicle of high-value (up to £15,000), there is an element of risk and security at play.
Could the seller scam you? Are they trustworthy? How did they get the money to buy the car initially?
Selling a car part-ex
At a local dealership, where you would typically be going to buy a new car is the next port of call for most drivers. After choosing a new vehicle to buy, your old one is part-exchanged and knocked off the value.
What happens here though is that dealerships will appear to offer you your new car at a seemingly much lower rate, but whilst you’re wrapped up in the deal you think you’ve got, your part-ex car has actually been valued for less.
Selling a car online
Gumtree and eBay Motors shot onto the scene about a decade ago now offering the first form of selling your car online. These sites offer an online platform to sell your car privately essentially.
On an online car buying website, you have the option to sell in a new way. What you get is the option to sell your vehicle fast (with payments usually same-day) and the safety from selling on a secure registered premise, especially when dealing with potentially tens of thousands of pounds.
What is best for me?
In a nutshell, the best option when selling your car all depends on circumstance.
Sell privately if you want a little more money, but can afford the time, effort and risk from potential scammers
Sell part-ex if you’ve fallen in love with a car at a dealership already and need the convenience of a new car right away
Sell online if you’re looking for a quick sale, security and same-day payment.