This method entails you selling your car direct to a dealership face-to-face. This will take one of two forms:
Part exchange (or ‘trade in’) – you use your car’s value to offset the price of its replacement whether it’s a brand new or second hand car.
Straight sale – the dealer makes an offer and buys your car from you.
Definition Of A Car Dealer
Many think of the term ‘dealer’ as meaning a franchised dealership who is part of the dealer network for a specific manufacturer. There are other types of dealer – the non-franchised types usually selling used cars.
This will influence what type you approach to try and sell your car if not part exchanging. For example, it may not be a good idea to approach a Ford dealership to see if they’re interested in buying your Alfa Romeo for cash – but it could be different if you’re looking to part exchange it.
Most franchised dealers will take vehicles of most other makes as part exchanges, but probably won’t be interested in buying them for cash.
With used car dealers, you similarly need to consider who to approach. There might not be much point offering your Jaguar to a dealer whose forecourt is full of mass market cars from manufacturers such as Ford and Vauxhall.
How Selling To A Dealer Works
Part Exchanging Your Car
The dealer will offer you a price (valuation) against the car you’re considering buying. It’s very important not to get fixated on the prices offered for your car – the crucial factor is the ‘cost to change’ (the balance you’ll have to find).
Buying Your Car For Cash
The dealer will offer you a price and you either accept or decline. Unless the price is way lower than you’d hoped you may be able to strike a deal with some haggling.
Quick – a fast method if you agree a deal with the first local dealer you approach.
Safe and Secure – a professional dealership is a fairly safe bet in terms of finances and there’s the reassurance of a ‘face to face’ transaction. That said, an online dealer offers similar benefits in that you do meet someone, sometimes visit a premises and you’re paid quickly and securely.
Expense – if part exchanging, you may not be able to strike as good a deal as you might as a ‘cash buyer.’ By selling to an online dealer, you could make more than a dealer’s lowest offer and thus be in a strong buying position.
Price – you may not get a good price if selling your car for cash as the dealer is looking to make a profit. An online dealer is at least as quick – maybe quicker – and likely to offer a better price.
If going down the car dealer route, be aware that it could be time consuming if you can’t strike a deal with your first dealer or two. It’s vital to approach the right type of dealer, and you may find there’s no real benefit compared to selling to an online company.