3 Easy Ways to Sell Car in Singapore
If you’re in Singapore and want to sell your car, you need some research and study. Don’t worry, it’s not a very complicated process. However, there are certainly a few things you need to know. So, let’s know them.
Selling a Used Car in Singapore
You can sell your used car in Singapore in several ways.
1. Through a Car Dealer
Selling a car through a car dealer is the most popular way in Singapore for selling a car because a car dealer handles the entire process, right from giving you a quote to managing all the paperwork. You just have to find such a dealer and request them to help in your Singapore sell car.
However, even this method has some downsides.
Firstly, the asking price for your car will vary from dealer to dealer because each dealer will try to get their own profit. Thus, if you choose to sell your car through a dealer, you’ll need to do plenty of research of the market and find the best deal possible. This can be pretty time-consuming and may not suit you if you’ve a busy schedule.
NOTE: Before signing a document, read the agreement carefully (especially the fine print) so you know what you’re agreeing to.
2. Through Consignment
Selling your car through a consignment agent has an advantage over selling through a dealer of having the freedom to set your own price. But do you know what a consignment agent is and how they work. Let’s know.
A consignment agent is a professional who helps you sell your car at your desired price. They will help you handle the entire car sell process by taking photos of the car, advertising on car listings and marketing in their networks, as well as managing all the paperwork. This makes the process totally hassle-free.
Every consignment agent has their own working process, though. Some may need you to leave your car in their showroom so their walk-in customers can see it, whereas others give you the option to continue driving your car until they find a buyer for you. Of course, the latter is highly advantageous especially if you don’t have a spare vehicle. However, whichever option you choose, you retain legal ownership of your car until the very moment the deal is finalised.
But you should keep in mind that a consignment agent may charge you anywhere from $500 to 1% of your car’s final selling price, depending on the consignment agreement.
3. Selling Directly to a Buyer
It has become a thing of the past when car owners had to post an ad in the newspapers and wait to hear from a potential buyer. Thanks to the internet, today they can sell their car directly to the buyer. They can even ask for their desired price and drive their car until it’s sold. Here you’ll have to do research for finding car selling sites. There are certain steps in this process, though. They include setting a selling price, listing your car, arranging viewings for buyers, getting a deposit once the buyer is happy, paying off any outstanding loan, transferring the car ownership and finally, handling the car keys to the buyer. These may differ from site to site.
Are you intending to sell your car? Which of the above ways would you prefer to sell your car? Let us know your experience once you sell your car successfully!