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Considerations When Planning to Sell Your Car Online
Many buyers are moving to sell their cars online, skipping the process of advertising in traditional newspaper classifieds or negotiating with traditional car dealers who prefer to give them a far lesser amount than the vehicle is actually worth. But there are a number of things that every responsible driver should consider before offering their car for sale on one of the popular auto trading and selling websites that dot the internet. From financing to repairing the vehicle, sellers need to know their rights and responsibilities before offloading their vehicle on a new buyer.
If Your Car Needs Repairs, Consider Selling to a Dealer
Car owners who have spent any amount of time perusing online advertisements for used car sales are probably aware of at least one thing. The vehicles which tend to stay available for sale online for the longest periods of time are typically those vehicles which need to be repaired immediately upon completing the sale. These vehicles are advertised “as-is” and most sellers specifically state that these cars need work in order to run. They’ll sell them at a deep discount as a way to compensate for this, but buyers are not likely to pursue those vehicles even if they’re an otherwise great deal.
Trying to sell a damaged or repair-requiring vehicle online is probably a waste of money for most sellers. It’s true that the current economic climate means that most sellers would rather offload their vehicle rather than pay for its repairs, but that simply isn’t going to be deemed acceptable among buyers who need a car in working condition from the moment they complete their purchase. For this reason, sellers with a slightly-damaged vehicle which needs repairing would be well-advised to trade the vehicle in at a dealer or at least negotiate for sale of the vehicle to a dealer who can either repair it or use it for parts to repair other cars on their lot. Sellers will get a better deal this way and buyers won’t have to file through tens of damaged cars to find one that simply works as it should.
Financing is No Reason to Refrain from Sale
The all-too-common assumption among vehicle sellers is that they simply cannot sell a vehicle which is still being paid off at a local dealer. This is actually not true at all, and there are a number of ways to get out of paying the bill on a financed vehicle. The most common and easiest way is to actually transfer responsibility of the payments to the person who ends up purchasing the car. This is the most timely way of selling the vehicle and ensures there are no delays or financial hardships endured by either side.
Rather than the seller paying off the car and compensating for their lump-sum loss with the sale price, this method involves transferring the lien and the title of the vehicle to the new buyer. They’ll immediately become responsible for payments to the auto loan lending company; the seller will be relinquished from their need to pay for the car. Most sellers will not charge a fee on top of this sale, and will instead simply enjoy that they are out from under the mountain of auto loan debt that they incurred during the purchase of their vehicle. For others, however, who have just a few payments left, it is perfectly acceptable and even encouraged to charge a fee on top of the price of any remaining loan payments for the vehicle.
Easy to Sell, and Easy to Do it Quickly
Selling a car is a relatively easy process as long as all of the above considerations are made in advance. With the right planning, maintenance, and financing considerations, sellers will be able to easily and quickly move through the sales process at any major online used car retailer. Buyers will appreciate the smooth transaction, and the seller’s bank account will approve of the quick infusion of cash it receives after the sale has closed.
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