Three ways to sell your car

There are different ways to sell your car and each comes with its own set of pros and cons. We want you to make the best decision possible, so here is a quick guide that will help you decide! 

Private sale

  • Seven steps to selling your car privately

    • Inspect your car’s body and interior and record any defects you come across.

    • Have your car inspected by a registered company like AA and keep the documentation.

    • Use their conclusion as a guideline to determine your car’s true value.

    • Advertise your car through word-of-mouth, social media and even print ads if necessary.

    • Organise a safe location to meet the potential buyers for viewing and test driving.

    • Be prepared to negotiate the price, but also stand your ground.

    • Have a professional look over your contract agreement to make sure that both you and the buyer are protected.
  • The upside

    You don't have to pay any third party costs, which means you can make more money from the sale! You also have higher bargaining power and have the ability to choose who you want to sell to. Afterall, you want to see your car off in good hands. 

  • The downside

    Finding the right buyer could take a little longer than you expect, and you're giving yourself more admin to take care of. 

Dealership

  • Three steps to selling your car through a dealership

    • Go online and browse for trusted authorities that buy and sell second hand cars.

    • Complete online evaluation on each company’s website to estimate the value of your car.

    • Compare the prices you receive with other dealers and have more than one company inspect your car to make an offer.
  • The upside

    • Inspection happens at no charge.

    • Less admin and effort.

    • No need to advertise the car yourself.

    • You can sell your car and receive payment quickly.

    • You and your money are protected.
  • The downside

    You might not get the price you were hoping for, and there may be some hidden costs that you have to look out for and negotiate down.

Trade in

  • Three steps to trading your car in for a new one

    • Determine how much you still owe on vehicle finance.

    • Have the car inspected by a registered company to determine the trade-in value.

    • Get trade-in quotes from various dealerships to find the best price.
  • The upside

    • Inspection happens at no charge.

    • Less admin and effort.

    • No need to advertise the car yourself.

    • You can sell your car and get a new one quickly.

    • You and your money are protected.

    • Your outstanding balloon payment can be transferred.
  • The downside

    • Trade in value is lower than retail or market value.

    • Hidden costs that you cannot negotiate down are included.

    • Reconditioning costs may apply.

What do I need to sell my car?

You’ll have to get your paperwork in order first.

  • Make sure you have the following things ready

    • Your own ID.

    • Proof of ownership.

    • Road worthiness certificate.

    • Vehicle registration certificate.

    • Proof of service and maintenance.

    • Notification of change of ownership.

    • Application for new registration for the buyer to complete.

Now that you understand the three different options you have, you can choose the one that will save you the most money. Good luck, and enjoy driving your new car!

Your moments mean a lot to us

 Let us help you with the next stage of your journey.

Learn more

Email us at: 

vehiclefinance1@absa.co.za