An Attractive Alternative to Auctions and Other Sales Options

When it’s time to sell one of your personal cars or an automobile from your collection, you really only have a couple of options.

• Buy a new car from a dealer, and trade in the vehicle you no longer want. This often results in a significantly reduced trade-in value.
• Arrange a private sale…and immediately start worrying about whether the prospective buyers are trustworthy. Not to mention all the headaches involved in advertising/marketing, making phone calls, handling inspections, and arranging for transport. It takes a lot of time and creates mountains of paperwork.
• Or, you might decide on an auction.

Risks Inherent in Auctions

If you’re looking to purchase a new car, high-end auctions seem like a good deal—and they can be a lot of fun. Every once in awhile, you might even find that special model you’ve been searching for. But if you want the best price when you sell or buy a car, auctions have a number of drawbacks.

At a typical auction, the house takes a 10% buyer’s fee and a 10% seller’s fee. That’s a big chunk of whatever sales price your car attracts. In addition, there’s tremendous pressure during the bidding process. Sellers often feel pressured to make snap decisions and accept a particular bid — even if it’s considerably lower than they had been expecting, or less than the car is really worth.