Selling a used vehicle that still operates is a good way to earn money for a down payment on a new car. How much you make from the sale depends on whom you sell the vehicle to: a private individual, an auto dealership, or a junkyard that buys used vehicles. Which option would be best? Let’s take a closer look at each one and see how they stack up against each other.
Selling to an Individual
Selling your car for cash in Austin to a private individual could potentially net you with the biggest return. It depends on how badly someone needs to buy the vehicle and how much they have to spend. In most cases, buyers offer to pay no more than the vehicle is worth in the Kelley Blue Book, and often expect to haggle the price of the vehicle below the Kelley Blue Book value.
Selling to an Auto Dealer
Many auto dealers make a higher profit on used cars than new cars. This is because they buy them for less than they are worth, and then mark up the price significantly. In addition to profits, auto dealers are also motivated to offer low prices because they have high overhead. Unless you get a special trade in deal, selling a used car to an auto dealer is rarely the best option.
Selling to a Junkyard
Selling your car for cash in Austin to a junkyard is a good option. Unlike auto dealers, junkyards have relatively low overhead, and they offer a competitive price that is at or near the Kelly Blue Book Value. Like auto dealers, junkyards are out to make a profit, but their pricing methodology tends to value the “usefulness” of a vehicle, which results in the seller receiving a fair price.
Need to Sell a Used Car?
If you plan on selling your car for cash in Austin, call Wrench-A-Part. We buy used vehicles, as well as junkers that no longer operate. We offer competitive prices for all vehicles, provide free towing services, and pay for your vehicle in cash when you turn over the ownership document. For more information about our services, call our Austin location today at (877) 886-5739.