If you are looking to sell your car and assuming that this excludes sales for scrap, your options may, broadly speaking, break down into two.

Sales for part exchange (PX)

As you may know, it is sometimes possible to trade in your existing car for a price and to have this taken off the cost of a replacement vehicle.

This is a long-established technique and perfectly reputable but it might occasionally make it difficult for you to establish exactly what you have got for your old vehicle.

The problem is that if you go into a dealership as a cash buyer, you may be able to negotiate a substantially different deal on a new vehicle that if you are attempting to offer an old vehicle in PX.

Sometimes, what appears to be a very favourable offer for your old vehicle is in fact being significantly offset by the opportunity you are missing, as a cash buyer, to negotiate down the price of your new vehicle?

As you might imagine, these PX deals are typically only available on the purchase of a replacement vehicle and may not give you disposal cash.

This is one reason why some prefer cash sales.

Cash sales – the reality

Someone purchasing a vehicle from you for cash, whether that is an individual or a major company, such as us, cannot easily offset what they are paying you against any variable profit they may make from you on the purchase of your new vehicle.

It is a one-off and unique transaction that the buyer must believe is in their best interests.

The transaction is essentially simpler and may give you the opportunity to better identify whether you are getting a good deal and subsequently to put the cash you have obtained to good use for whatever purchase you choose (which may not, of course, be simply another car purchase).

If you are asking yourself, how do I sell my car for cash, you may wish to keep the above points in mind as well as:

• you will need to be realistic on your price expectations but remember to keep in mind the greater potential purchasing power you will have, once you have cash in the bank;
• cash purchasers may not wish to take on vehicles that have significant outstanding car finance on them;
• be cautious about dealing with individuals or small organisations who offer to pay by uncertified cheque – that may prove to be risky for you if it subsequently bounces and you no longer have your vehicle.

With a sensible approach, you may be able to achieve cash sale and end up feeling that you have a good and easily understood result.

About the Author

Spencer Kent is the owner of Southern Car Buyers who are the quickest and easiest way to sell your car for cash. Visit www.southerncarbuyers.com now and complete our short valuation form and we could have an offer for your car in less than 1 hour.