Over 2019, the number of registered vehicles grew by 1.7%, according to the ABS. This means that there are around 19.5 million registered vehicles in Australia. Although this seems like a lot, this is a slight decrease from 2.1% we’ve usually seen annually, over recent years. Still, this figure shows us one thing: Australians love buying cars, and that will not change.
There’s nothing more exciting (and stressful) than buying a car. What colour car should you get? Do you splurge on a personalised plate? How much should you try to haggle at the dealership? The questions are endless and so are the options for customising your car.
However, there are important details to sort out before getting to the stage where you purchase your new wheels. Have you thought about what you can do with your old car? Well, there are a number of things you can do but they come with their own pros and cons. Read on to see what you can do with your old car and which one results in the best outcome for you.
Selling your car’s parts
This isn’t the first thing that comes to mind when you want to get rid of your car, however, selling your car in parts is only advisable if you’re a highly experienced mechanic, or you know someone that is. This is because you’ll basically need to take your car apart and it can be quite difficult. But if you are capable of doing this then you can sell parts that you’ve isolated on buying and trading websites – Gumtree and Facebook marketplace are good options.
While you may make some money working this way, there is a downside. Firstly, there’s the mess. Do you have the space to accomplish such a task? Not to mention, cars leak hazardous and corrosive fluids. Grease, oil, freon, antifreeze, and other fluids can cause harm to your health. In the end, you’ll have a lot of scraps left over to dispose of as well. You’ll need to consider how to dispose of large quantities of metal. This is a lot of time and effort that you’ll have to put in. If you’re looking to dispose of your car fast, this probably isn’t your best option.
Trading your car in
A trade-in is something you’ll need to organise with a dealer. This is a good option if you haven’t completely paid off your car loan but the value of your car is worth more. When you talk to a dealer, they’ll provide you with a trade-in value – this is the amount they are willing to offer you towards your new car. The trade-in value of your car will depend on a number of things: the age, condition, and popularity of your car, as well as how many there are in stock.
Trading is generally a quick and easy way to sell a car – you don’t need to try and advertise your car, you don’t need to make time for prospective buyers, and you can get a new car straight away at a lower price. The downside is that some dealers may decline the purchase of your car, particularly if it is an older model so you’d have to go about selling your car by other means. Also, dealers will know the true value of your car – you will not be able to swindle a greater price.
Selling your car privately
There are many websites these days that let you advertise and sell your car privately – gumtree, car sales, eBay, etc. Some of these websites will take a small fee or commission though so be aware of any hidden charges. To get you prepared for selling your car, it’s good to check the QLD Government’s website to ensure you are following the proper procedures.
The downside of selling – there’s a lot of preparation. To get more out of your car, you should service it to make sure it’s in perfect condition before you sell it even though it seems counterintuitive to spend money on the service to earn more money back when you sell it. Not only this, but you might also have to repair obvious damage to make it more attractive to buyers. This is because when you buy something, you’d expect it to work right away. However, you could mention the problems that need fixing and hopefully, someone is willing to pay a lower amount so they can fix it themselves if you’re in a rush to sell it or can’t be bothered doing it yourself. You’d also have to clean your car, inside and out. And yes, that includes vacuuming and wiping down all interior surfaces. The upside of selling your car privately is that you might be able to score more money than you would from a dealer or wrecker. This money can then go towards getting a new car for yourself. Vroom vroom!
Selling your car to a dealer
This is the most convenient option if your car is in good condition. Selling to a dealer is easy – you take your car in to the dealer, they give you a price, and if you agree, it’s sold. They basically do everything for you. However, this depends on a few factors which might increase or decrease the amount you get back. For example, do they already have a lot of the same make and model for sale which might make it harder for your car to sell? Are you still paying off your car? Does your car need repairs? All these will be taken into account when you sell to a car dealer. One good tip is to go to a dealer that specialises in your make and model. For example, if you drive a Kia, take your car to a Kia dealership.
Selling your car to a wrecker
If your car is not in the right condition to try and sell it onto a potential customer, you can still probably sell it to a wrecker. Wreckers will salvage usable parts in your car that can be sold for more affordable prices than new. For example, if you get into a car crash and your car is totalled, you might not be able to just take it apart and ‘sell the parts’ as we discussed earlier. Instead, the wrecker values the metal and will extract any working parts they might find. Metal parts will be separated and sold to scrap metal companies. After a car has been completely dismantled, with all of its rubber and glass removed, it is usually crushed into a compact shape and returned to a recycling facility or steel mill. Although selling your car to a wrecker won’t see the greatest return on investment, you will get a little cash. The added benefit is that you’re essentially recycling your car.
Whichever way you choose to sell your car, it’s a good idea to do a lot of research before you commit. Make sure your car is in the best condition you can get it so you can get the most out of your car. If you need to fix a windscreen crack or need to replace your windscreen, you know you can always ring us up at 132234 and we’ll come to you!