In these difficult times during the COVID-19 pandemic, when many people are financially strained, it’s important to get the best deal when selling your car in 2021. Like everything in life, you need to know how to proceed with a sale, otherwise, you could suffer at the hands of conmen. Whichever method you choose, remember to be careful and alert.
Establish the value of your car 1
First, find out what your car is worth. This will give you the confidence to ask for a certain price. Used cars are in great demand today, as few people can afford to buy a new car. For this reason, don’t be too quick to settle for a certain price that may be under-priced. You can then decide whether you want to sell your car privately or through a dealer.
What does a private sale entail? 1
A private sale means you are selling your car directly to a prospective buyer, or a dealership. Be very careful when dealing with complete strangers.
What about a trade-in? 1
Only follow this plan if you wish to buy a new car after trading in the old car. You need to address each of the two transactions separately to secure the prices you want.
When selling to a wholesaler 1
Use newspapers or online websites to advertise your car at a specific price. Used car wholesalers will contact you via a middleman.
What about a used car auction? 1
You need to do some thorough research before taking this route. Examine different auction companies and their reviews. Remember that 4-8% of the amount you receive from the auction sale will go to the auction house.
Now that you have done well on the sale of your vehicle in whichever of the above-mentioned ways, and have secured additional financing through a bank, you can look forward to driving your new car. The one legal requirement is that under South African law, all new cars financed by a bank must be covered with comprehensive car insurance.
Disclaimer
This article should only be considered for information purposes as car insurance is not straightforward. Please obtain professional advice from a certified financial advisor if you want to purchase car insurance.
Consider Prime South Africa’s comprehensive car insurance 2
You are smiling from ear to ear with your new car. But which insurer should you use? Buying comprehensive car insurance with Prime provides you with two great pros. The first is that premiums are fixed*, while second, your excess decreases to zero monthly. The policy covers you for up to R1 million for any third-party accidents. Your new car’s retail value is fully protected from any claims involving accidents, fire, hijacking, theft, write-off, and disaster. Any future breakdowns on the road are covered by a 24-hour roadside assistance and towing service, whilst any hail and glass damage are also covered. T and Cs apply.
If you are keen to buy your new car any time soon, contact Prime for more information on affordable comprehensive car insurance.
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