Price. Price Price. Like most sellers out there, that’s all you consider when selling your car. “Who will pay me the best?” “How much price should I expect for my old car?” “Where should I sell it?” “Where should you sell your car?” These are all the questions we ask when it comes to getting rid of our old car but is that all? Is price everything? Shouldn’t you look into other factors when selling our car? Of course, you should.
Since the Cash For Cars industry is slowly going all online, sellers are bound to get slipped into online frauds or scams more than ever. If you recklessly dive into the cash for cars industry, just seeking the best price offer, you are bound to get bad results. Getting the best price for your old car should be the number one thing on your list but you should not limit your list to that specific factor.
So here are 4 things other than price to look into thoroughly when selling your car.
The location of the buyer
If you are dealing with end-of-lives and undrivable vehicles, this is more so. When you post ads on online marketplaces like eBay, Gumtree, etc then you are bound to get one or two offers from a different state or a location hundreds of miles away. If the buyer demands a delivery service then this becomes a nightmare.
In some cases, when you are selling your car to a scrap yard or a removal company, you’ll get free car removal and towing services but with private buyers, that’s not the case. You might have to hire a removal company and get the vehicle towed to the buyer’s location by paying hundreds of dollars. Most of the time, paying an exorbitant amount isn’t plausible as you’ll end up losing a big chunk of your net profit.
You can always request the buyer to manage transportation services themselves but almost no one is going to pay for the removal of an old car, that’s for sure. So if a buyer gets in touch with you from a distant place and there are no feasible options for transporting the vehicle either by driving or towing it then steer clear of the deal.
The payment method
When it comes to selling your car, the adage “Cash is King” has never been more accurate.
Accepting cold hard cash for your car is, in general, the best way to ensure that you receive the absolute, exact payment. But keep in mind that accepting cash from a customer will leave you with hundreds or even thousands of dollars in your pocket, and you’ll need to get to the bank as soon as possible as walking around with too much cash in your pocket can be risky.
The customer might choose to pay you with a personal or cashier’s check. A certified cashier’s check is also another safe way to accept payment during a private transaction. Unfortunately, there is also the possibility of fraud since there’s no guarantee that the customer has enough money in their account to pay the check, and you might end up with a bounced check.
To avoid such a situation, accompany the buyer to the bank to confirm the check’s validity and adequate funds. If your buyer requests a payment plan, politely decline since a payment plan is something you can never agree to as it opens multiple pathways for possible frauds and scams. A safe and transparent payment method always pays off and can save you from a sickening scam.
History of the buyer/dealer/salvage yard
If possible, always try to investigate the history of the buyer/dealer/salvage yard. You can know about dealers and scrap yards through their customer testimonials on their website and even Google Map ratings. If you know someone who has recently done business with specific dealers, don’t hesitate to ask as many questions as you want. After all, it’s your vehicle we are talking about which is your most significant purchase after your house so selling your car should generate significant revenue.
If possible, try finding out how the dealership deals with customers. If buyers don’t value your time and provide sluggish services then avoid dealing with them. Today, you can know a lot about dealerships and Cash For Cars service providers through their websites and customer reviews and testimonials on Google Maps. But if it’s a private buyer, you might have a hard time figuring out their candor. You might get a little idea about their disposition through voice calls and chats.
Disposal And Recycling Policies (if you sell your car to a scrapyard)
It’s not always about getting rid of your end-of-life vehicle and receiving top cash. As a responsible human being, it is your utmost duty to make sure that your ELV doesn’t just end up in a landfill after its useful life. Most cash for car companies and scrapyards buy your vehicle for a cheap amount, dismantle it, sell recoverable parts and dump the rest into a landfill. These are all pseudo-car recycling services and can have detrimental effects on nature. From releasing toxins to being an eyesore, there is nothing good about these pseudo car recycling programs.
Be sure to perform a thorough investigation regarding the disposal company’s auto-recycling policies before thinking about selling your car to them. Only choose companies that ensure a maximum of 5-10 % Automotive Shredder Residue(ASR) in their recycling facilities.
If you have enough time, you can visit their vehicle storing and scrapping facility. Always choose an Authorised Treatment Facility (ATF) to dispose of your vehicle. Make sure the treatment facility makes good use of your vehicle, extracts reusable parts, and scraps remaining metal to the fullest.
An important tip here is to let your local DMV know about your vehicle disposal through a notice of disposal.
All in all, sell your car is definitely about getting the best offers but if you overlook the aforementioned factors, you’ll end up having an awful car-selling experience and in some cases end up with no price and no vehicle at all.