Although they typically fetch the lowest prices, selling an older car – one that has seen many years of considerable use – is in one very important sense the most profitable kind of sale you can make. With an old car, the original price tag has already been more than earned back in the years of use the vehicle has seen. An old car is also likely to have been long-since paid off, meaning that any revenue from the sale isn’t reduced by squaring outstanding payments or transferring the liability over to the seller.
Of course, selling a used car that has quite a few miles on the clock comes with its own set of challenges. For one thing it is likely to be in relatively poor condition. This then raises the question of restoration, and how much you should expect to spend on restoring a car ahead of a sale. It is also very likely that an old car that has seen a significant number of years on the road will not be among the currently most popular makes or models, and it might not attract the same range of buyers that a newer car would.
The trick then is to get a good idea of how much your car is worth before selling it.
How Much is My Old Car Worth?
To answer this question, the first thing you need to do is get a professional appraisal. With older cars, the number of variables and factors that affect the selling price are too numerous for you to make an accurate estimation yourself. And you cannot simply check how much that model typically sells for, as every individual car over a certain age will be in a considerably different condition to the next.
What you need then is a professional. As mentioned, many dealerships offer a free appraisal ahead of sale. A professional car appraiser will check a range of factors pertaining to the condition of the vehicle. They will then produce an accurate estimation of what it is likely to fetch – and also whether restoration is advisable.
Sell Through a Dealership
When it comes to older cars, selling through a dealership is undoubtedly the best option. This is all to do with the fact that a dealership is much more likely to find a buyer for your car. This is all down to the market reach that reputable dealerships have, as well as the resources to restore the car at minimal cost.
If you’re someone looking to “sell my car in San Diego” or across Southern California, then you can scarcely do better than a company like Cash for Cars in San Diego. With connections to a nationwide network of outlets and a market database, these companies can sell your car on with the minimum of fuss. Many also offer a free appraisal, towing, and will sort out all DMV paperwork.
Should I Restore the Car?
If your car is old, then it’s likely that at least some amount of restoration or servicing will be necessary before it is sold on. It costs less for a dealership to do this than an individual owner, but it is possible to restore the car yourself and make enough on the sale to cover the costs of doing so. This is usually only if the restoration is on a small scale though, so bear that in mind before spending on the materials needed to do it yourself.
It simply takes more expertise and resources to sell an older car in a questionable condition, and this is why the dealership wins out.