Selling your car sounds like a fairly simple process- all you need is a buyer, right?
Well yes, and no. There’s a little bit more to it than that.
Below we look at the big picture of selling your used car from
- valuing your car and
- Victoria’s state rules and regulations,
- to the sales methods to consider
so you can make informed decisions about what works best for you.
Selling Your Car- Where Do You Begin?
Get A Valuation- Find Out What Your Car Is Worth
Before you start the process, it’s important to understand what your car is worth. That way you know whether the price you are asking for makes sense and you can accurately compare offers from buyers.
To find out what a realistic price range will be, you can go into nearby dealerships to get appraisals but if you want something fuss-free and instant, you can choose to use online car valuations.
It’s simple and convenient and can all be done from the comfort of your home. A free valuation of your car from Carhops will take into account factors like make, model and condition. This will be analysed according to what the market is and in a matter of minutes and you’ll have an accurate idea of your car’s value.
Understand Vic’s Rules And Regulations
When selling your vehicle, there are rules and regulations set by the Victorian Government to consider.
You must provide the buyer with:
- A written receipt for the sale
- Your proof of ownership (registration papers)
- A roadworthy certificate if applicable[1]
Once the sale is complete, you must cancel the registration within 14 days of the sale and notify VicRoads.
It is important to understand these rules as they determine how you go about selling your car and protect both parties involved in the transaction.
Do note, that when selling to a dealer ie. not through private sale, most dealers will help you handle the paperwork but it’s still best to be aware of what’s expected just in case something is amiss.
Private Sales Vs Car Dealership
Now that you have an idea of how much your car is worth and what’s required of you, it’s time to decide how to go about selling it.
Your two main options are via private sales or car dealerships.
Private Sale
Selling a car privately means selling it without the involvement of third parties or in other words, selling directly to an individual owner.
Pros: You have control over the price you set and buyers may be willing to pay a higher amount than what a dealership will offer you.
Cons: You will have to do more legwork in advertising and vetting potential buyers. It can be time-consuming and difficult to manage a successful sale. Waiting too long will also risk your vehicle depreciating further.
Car Dealership
Selling to a used car dealer is a convenient and often faster way of selling a car, as they are experts in the field and can process all the paperwork needed and provide you with an offer almost instantly.
Pros: Selling your car to a dealership saves you time and hassle as they will take care of all the paperwork for you (including cancelling registration). Most dealerships will offer an immediate exchange of sale meaning you will walk away with money on the spot.
Cons: It is more likely that dealerships will offer a lower price than what a private buyer would be willing to pay as they are looking to make a profit themselves.
The Pros and Cons Of Selling Via Private Sales And To A Dealer
| Pros | Cons | |
| Selling Privately | • Get to negotiate the best price • Be in charge of the process | • Often takes longer (waiting for the right buyer/ right price) • Higher risk of scams • Requires more time and effort (organising multiple inspections, negotiating and dealing with paperwork etc) |
| Selling To A Car Dealer | • Faster payment (usually within a day or two) • Less hassle- they take care of the paperwork • Safer- much lower risk of being swindled | • Lower price compared to private sales • Less involvement in the process |
To read more about how they compare, check out our article on the best way to sell your car in Melbourne.
Trading In Your Car- Only Applies If You Buy A New One
If you’re planning on buying a new car, you may be able to trade in the old one. This can save you time and money as most dealers will give you a discount and additional warranty if you choose to do so.
However, trading in your car does come with certain risks such as:
- You may not get a fair price for your car, as dealers need to make a profit when reselling the trade-in.
- Warranty will only be extended if the new car you are buying from the dealership is of higher value than the one you’re trading in.
It’s also important to note that if you are trading in a car, the dealership will take care of all paperwork including cancelling registration.
Carhops- The Hassle-Free Alternative
If you’re looking for something that’s quick, easy and hassle-free when selling your car, look no further than trustworthy online car buyers like Carhops.
Carhops is a user-centric car-buying service that uses tech to create a more seamless and cost-effective process for sellers.
We offer a free valuation of your car almost instantly to give you an accurate idea of its worth. When you are ready to sell, we take care of all the paperwork including cancelling registration and payment is made within minutes of the inspection.
We also provide a free pick-up service from anywhere in Victoria, so you don’t have to worry about the hassle or cost of transporting your car to us.
So, Things To Consider When Selling Your Car
How much time do you have?
How much do you want to sell it for?
Do you need to get a new car?
What’s the condition of your vehicle and can you risk further depreciation?
Depending on your answers to these questions, you may choose to sell your car to a dealership or online car buyer or decide to try your luck with private sales. Keep in mind that there isn’t one fixed solution for everyone and you must weigh all options in order to make the most informed decision.
Conclusion
Selling your car can be scary, but understanding the process, rules and sales options will make it a much smoother process.
Now, if you’d like quick and hassle free experience, Carhops promises excellent service and fair prices including full payment by the end of the day*.
Get an instant valuation online and find out how much you can get for your car.
*Payment is completed upon inspection of the vehicle
Reference:
[1] https://www.vicroads.vic.gov.au/registration/buy-sell-or-transfer-a-vehicle/sell-a-registered-vehicle#:~:text=Notify%20VicRoads%20of%20your%20transfer%20online&text=If%20you’re%20selling%20a,the%20vehicle%20in%20your%20holdings.
