How to get a fair price for your car
Selling your car can be stressful, as it’s an area most of us do not know too much about and one can’t help but feel like they are on the back foot from the start.
However, by informing yourself on what exactly you need to do to resell your car, you will make the best decisions that will benefit you the most.
Get at least two comparative prices for your vehicle. It will require a bit of legwork, but the effort will be worth the financial return
Go online: there are a number of South African car-buying service websites that will be able to give you a reasonably accurate estimate of your car’s value; and
Get it physically assessed too: No offer is final until the buyer has inspected the vehicle, and often one’s vehicle is further from perfect condition than you realise.
Be realistic in your expectations
Remember that a dealer has to incur a lot of costs to sell your car so you’re not going to get offered the online price.
You can, however, use those retail values as a benchmark. It should be roughly 20% to 30% more than a trade-in price.
Always ask for the cash price first and see what they offer you. It will give you a better idea of what the dealer thinks the car is really worth. Then ask for the trade-in price. This might be higher, but it’s likely the dealer will recover that cash price-trade-in price difference in the deal on the new car you will be buying from them.
Have the condition independently evaluated
Automotive experts such as Dekra and KwikFit can also provide you with a report on the condition of your vehicle.
This may cost you a few hundred rand, but it could save you thousands when you are negotiating with a buyer. You will be able to push back on any attempts to low-ball you by declaring there are “problems”.
Also, let the dealership refurbish your car
It will cost them far less: dealerships will have industry contacts to get panel beating done and tyres replaced for a lot less. The price the dealer offers you is unlikely to warrant the cash you will spend fixing it; and
They like to know what they’re buying: dealers don’t like to see signs of work done without knowing exactly how serious the original damage was.
Michael Muller is the managing dorector of carzar.co.za