Most car owners in Singapore do not experience selling their vehicle often enough to be familiar with the process. When selling your vehicle, the most straightforward process is to sell to a direct car agent. This will save time and reduce hassle because all the administrative work will be done for you. The other option is to sell your car to a direct buyer, which will usually result in a higher offer for you car. It might be confusing to decide for most owners. Hence, we have written this article to guide you along.
This article will be listing a few factors to consider that will help you make the best decision before you sell your vehicle.
The most obvious to factor consider is time. Selling to a direct agent would take you a few days at most, provided that you find the quotation reasonable. Therefore, selling to the dealer is the best option if you are looking to get rid of your vehicle in the quickest amount of time.
Selling your car to a direct buyer is trickier. You have to factor in time spent sourcing for a buyer. There is no guaranteed timeline so this process can take anywhere from a couple of days to months.
There is a huge difference when it comes to the administrative paperwork between the two options. The car dealers covers all administrative portion for your vehicle, effectively reducing your task to simply signing on the dotted lines and handing your car keys.
When doing an owner-to-owner transaction, there are additional tasks that you will need to sort out. Firstly, you are in-charge of the marketing for your car. This includes posting of sales adverts to price negotiation. Secondly, you would need to manually sort out all the necessary papers works which ranges from insurance changes to vehicle ownership transfer.
With all the time and hassle saved from selling direct to an agent, there will definitely be some drawbacks. As you are going through a middleman, the offer you get from a direct dealer will be lower. Typically, this amount is about $2000. If you are feeling the pinch, try selling to a direct buyer. You will save on agent fees and depending on your negotiation power, you might get a little more money too!
That’s the 3 main factors to consider when selling your vehicle. Carefully weight each option and see which option is the most effective for you. Additionally, you should also consider the condition of your vehicle. If the vehicle condition is poor, it might not attract good offers in the resale market. In this case, it might be wise to contact a car scrap dealer to advise you on the scrap value of your car.