Selling a car can be tricky in today's market. Between fluctuations in used car prices and dishonest hagglers, it's challenging to get your car's actual value when you sell. A few options are available when deciding what kind of sale will work best for you. You can sell to a private party, an auto dealership, or through a 3rd party online - but each option differs from the other! So let's look at all the various options, so no matter when you're ready to sell your car, you'll know which one will work best for you.
Covid caused a significant disruption in new car and truck production because most automotive factories temporarily closed. As a result, the dealers couldn't replenish their new car inventories. So, dealers met the demand by selling off their used auto inventory instead.
Today, new cars are still scarce because of production interruptions and a microchip shortage. Cars rely on microchips for advanced technology, including sensors, GPS, and other operating systems. But microchips were challenging to come by even before the pandemic, but Covid only worsened it.
A microchip is a tiny computer that monitors tire pressure and controls steering, acceleration, and braking. The chip also tracks the location of your car through the GPS. Chips power nearly every electric device in the world. They are even present in surprising items, like your washing machine, toothbrush, and refrigerator. Why is there a critical microchip shortage?
Multiple factors are responsible for the chip shortages, including COVID-19 facility closures, reduced supplies, and production interruptions. Global shipping challenges are also part of the problem since chips sometimes travel thousands of miles away to another factory before they become finished products.
Right now is a perfect time to sell your car because prices are at record highs because of temporary car inventory shortages. If you act quickly, you can get extra value from selling your old or used vehicle. It's a seller's market for used cars right now, but it won't be like that forever.
There are many ways to sell a car, and each has its pros and cons.
While selling your car the traditional way might yield a higher price, it would also take the most work. Selling your vehicle can be challenging because you have to prepare the car, find out how much it is worth, and gather years' worth of paperwork. You'll also need time to meet with buyers and complete all the sales documents on time.
Believe it or not, there are many frustrations with selling your used car to a private party. If you are looking for an easier way, you can check out your local auto dealer. However, if you want the easiest way to sell your car, BestBid can give you a cash offer right now. They provide sellers with a simple process that doesn't involve any frustrating challenges.
What if you want to sell your car but can't afford another vehicle? Some dealerships will be interested in buying your car even if there are problems with the condition, mileage, or other issues, even if you don't intend to buy another vehicle.
Dealers typically won't offer the best price for a couple of reasons. First, they'll have to handle all the paperwork, title transfer, and legalities. Second, they will refurbish your car to advertise it for resale, which costs them money!
Maybe you're looking for a new car, anyway. This is the perfect opportunity to put the money from your trade-in towards something YOU REALLY want. It's always a good idea, at least in theory! However, you may not get as much money from the dealership. Your car value depends on the condition of your car.
Our friends at Car and Driver say you're likely to get more money if your car is in "clean condition." If it's been a while since you've washed or vacuumed out the interior, is it worth doing now?
But before going down to your local dealer and selling off your old car, you need to gather all your maintenance records and title paperwork. But, if you're ready to sell now and want to avoid all the hassle, let BestBid take care of it all for you. Or you can take a shot at selling it online.
Ah yes, who doesn't love the idea of selling your car with just a few clicks? The only problem is, who do you trust? You've seen those "instant offers," which, in the end, only want your contact information, or they give you a deal that's nowhere close to what they said it would be.
And say after a long phone call with them, you accept their offer. You usually have to drive a good distance to drop it off and then wait for weeks for them to process your car so that they can pay you what's owed.
But don't wait to get paid because you can get paid the same day with BestBid. If you want to eliminate all the headaches and frustrations and get an offer today, give BestBid a try.
Stop imagining and start selling! BestBid.com is the easiest way to sell your used car with a genuine commitment-free instant offer based on market value. There are no tricks and no bait- and-switch. Once the deal is complete, we'll pick up your car when you're ready and pay you the same day! All this without ever having to leave your home.
If you have a few questions first, explore our FAQ page or contact us.