If you are considering selling your car, there are a number of factors to consider. It is easy to fall into the trap of hidden costs that will take money out of your earnings.
Here are some important considerations to keep in mind to avoid hidden fees when selling your car.
Transportation cost
A small cost to consider, but still, a cost is your transportation cost. Once the car is sold, you may need to drive it somewhere and no service will be provided to drive it home. If you sell a car without a middleman, there are very few companies that will get the car for free. You will then look to arrange and pay for transportation to pick up your car and this will affect any profit you might think you made from the car.
Evaluation fee
A common misconception is that all reviews are free. Unfortunately, this is not the case. It is important to check with the company before arranging an evaluation if there are additional fees involved and what those fees are.
Transfer fee
Your car selling fee is another hidden cost that many companies don’t reveal if possible. Oftentimes, the higher the value of the car, the more money you will be charged. As with appraisal fees, it is important to request disclosure of any additional costs.
Advertising rates
Advertising of a private sale is often required through paid marketing channels. Most of the time, the cost is hidden in the time scale. If the vehicle takes longer to sell, your ad costs may be charged per week instead of one fee.
Monthly vehicle costs
Your monthly vehicle operating costs will remain with you until the vehicle is sold. Monthly fees such as insurance, your time to maintain the car, and possibly valet parking when there is a visitor are important costs to consider and budget. If you fail to sell within a certain period of time, you will also need to have it repaired.
Consumption
The auto market is forever changing with current trends. While your car may be worth a certain amount at any time, it is important to check the current rating when it goes on sale. Every time a new car model is released, your car loses its value.
Payment transaction costs
You think you have sold your car and have been told the cost of the purchase. You receive a number lower than the purchase cost. This is a hidden payment cost as the company charges you a fee to “send” the money to you “faster”. If there is a payment cost, it may be more profitable to opt-out of the Express Payment Transaction and let them transfer money for free for a few days.
How to avoid hidden fees and get the best price for your vehicle?
Research and due diligence are key! Check out the finer details and ask questions. Your goal should be to get the best price for your car, with the least amount of hassle and in the least amount of time. Car removal companies can make a reliable offer online within the seconds, without any hidden fees. The process is simple and transparent. It takes less than 60 seconds to receive a quote and once agreed, your car will be collected for free depending on the company you opt for. That’s simple!
