Guide on How to Sell Your Used Car
Re-Cycle & Carriage

With COE prices and maintenance costs escalating in tandem, it is no wonder that an increasing number of car owners are opting to sell their cars. Whether you have arrived at the decision to scrap-and-save, or are just keeping your options open, here are 5 simple tips on how to administer the sale of your car!

1. Deal or No Deal?

Approaching a car dealer is the most efficient and hassle-free way to convert car to cash. Dealers take care of everything, from paperwork to pricing decisions, and this makes car-selling less of a chore. However, do insist on a written version of all verbal correspondence in case of disputes and discrepancies.

2. Owner-to-Owner Sale

This is definitely a more inconvenient option, but you’d be able to fetch a higher price than selling through car dealerships since the middleman fee is eliminated. Food for thought: not only do you have to place ads and arrange all legal, administrative and transactional work tied to the sale of the car (eg, documents pertaining to the transfer of ownership), viewing sessions and test-drives will also fall under your responsibility.

3. To Each His Own

The selling price of and interest in a used car are determined by its type and the time of sale. Family sedans, though mundane and ubiquitous, are generally in higher demand from people who need easy and affordable transportation. Collector cars take considerably longer to be sold, but may fetch exorbitant rates should you succeed in finding the right buyer with an acquired taste.

4. The Price is Right

Take your time to browse online classifieds sites such STCars, to see what used car of similar type, brand and model to yours, are selling for. Take note of factors such as car condition, mileage and geographic location in order to list your car at a competitive price and snag a buyer faster. Extra tip: research has shown that pricing your set of wheels at $49,999, for example, may attract buyers more effectively than a price of $50,000 as the former makes your car ‘look’ cheaper (when the difference is a mere $1)!

5. Rules of Attraction

When preparing for car viewing, make sure your car looks attractive and pristine—inside and out—for potential buyers to have the most enjoyable drive possible behind your wheel. Also, have maintenance records ready to show them that your metallic darling’s more jade than junk.

For more guides on motoring and road essentials, click here. To browse used car listings, click here.