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Dealers have unfair advantage.... Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Fri, 16 May 2003 18:32:59
In Reply to: Practical Advice for Selling a Car, prlf, Thu, 15 May 2003 06:57:49 Members do not see ads below this line. - Help Keep This Site Online - Signup |
They offer financing and take trades. They do all the DMV work, pay off trades with balances owed and give you the immediate use of the equity. They have convienent locations, business hours and have a staff of helpful professionals to assist in the sale. Not to mention a mega advertising budget and a website.
As a private party, you probably won't take a trade, especially if there's money owed on it. You only send your customer to his own bank or credit union for financing, you can't instantly qualify someone by taking a credit app and checking their credit. Many customers may not get hooked up with you logistically at your home or where ever you're selling your car and I'm sure you're not availible business hours until 8 p.m. every night, Saturdays and Sundays all day until 6 p.m. In many locals it's illegal to advertise an automobile for sale on a public road, although there seems to be some first amendment rights that might change this soon. And the same wholesalers who buy our trade-ins scour the used car private party ads for folks who may not know the value of their cars all that well, or are weary of the process.
If the car is in a "cash' price range, $7,000 or less, than you have a much greater likelyhood of success. If the car is more expensive than that, than not offering financing and trade-ins eliminates a very high percentage of your potential buyers.
Lot's of folks think getting an extra $1,000 or two better than the dealer offers will be easy, but it isn't that easy. Other folks are naturals at it. They love the "game" and have the patience and the drive to make it happen.
I suggest sticking to what you do best, and leaving automobile selling to a dealer.
posted by 207.158.49...
, Fri, 16 May 2003 18:32:59 <-- Viewing This Message
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