What if a few minutes could help you get a few thousand dollars?
If you’re looking to sell your BMW, it can be hard to get the best price for your car. And selling BMW cars for too low a price is something people regret for years to come.
Don’t worry, though. We’ve put together the ultimate guide to selling your BMW!
Sell to a Dealer
If you want to sell a BMW, then our first solution is also the easiest. You can always sell the vehicle to a local dealer.
Selling through a dealer has some distinct advantages and disadvantages. The first primary advantage is time: you could go downtown to a dealer this very day and possibly sell your car, saving a ton of time.
Going through a dealer can save even more time if you will be buying a new car. You’ll be able to immediately apply the value of the old car to the new car (more on this in a minute).
However, dealers practically have a Ph.D. in haggling. You are likely to get less for your car through a dealer than you are through a private buyer.
It can also be difficult to find the right dealer. The best choice would be to sell through a BMW dealer, but if you don’t have a local one, it can be more of a hassle to sell your car using this method.
Trade or Cash
In many ways, selling your vehicle through a dealer is like selling any other item to a speciality vendor. You need to determine whether you’d prefer cash or credit.
If you’re selling the car to help with financial difficulty, you’ll obviously prefer cash. However, if you have enough time, you are likely to get more money selling the car directly to a private buyer.
As we said before, it can be more convenient to buy a car from the same dealer you sell the car to. And some dealerships may offer more in trade credit than they can offer in cold, hard cash.
Ultimately, how–and where–you sell your BMW comes down to what your particular needs are.
Calculate Value
Another advantage of selling your car through a dealer is that they will automatically assess the car value for you. If you are selling to a private buyer, though, you’ll need to calculate the BMW value on your own.
The primary source for car value is the Kelly Blue Book. This text can give you good “starting” information for how much your BMW is worth.
Keep in mind that the car condition plays a big part in how valuable the car actually is. The Blue Book will list BMW values for different conditions: make sure you are honest to yourself and others when it comes to the condition your vehicle is in.
Don’t forget to clean the vehicle up so it looks as good as it possibly can.
Online Auction
So far, we have focused on some classic methods of selling your BMW. Selling to either dealers or individuals is the exact choice, for instance, that your parents and grandparents also had.
However, a more modern option for selling your BMW is through an online auction. And this option has some benefits you might find very appealing.
First, it’s possible to auction your BMW through eBay. One advantage of this site is that it has so many users, and you can make your auction as local, national, or even international as you want.
However, there are also specialty auction sites that focus on cars. This can be good because the site’s users are more likely to know what they want and not balk at the asking price for your vehicle.
Regardless of your choice, the biggest advantage is that you can have “bidding wars” for your vehicle that drive the price up. Whoever wins, you win, too!
Advertising Car Condition
Earlier, we mentioned that you need to be honest to buyers about the condition of your car. However, this brings up a question: how can you be honest about the condition of the car in a way that still draws in buyers?
First, you need to be careful about the phrasing. If your ad says “must sell,” buyers will think you are desperate and will try to haggle.
If you actually want them to haggle, mention phrases like “asking price” or “OBO” (which stands for “or best offer”). These help to signify your willingness to negotiate on price.
Finally, if you have an absolute price in mind, be sure to mention the word “firm.” This lets buyers know that you won’t budge on price and helps to drive the hagglers back–a great choice if you are short on time or patience.
Traditional Advertisements
Once you have a price in mind and good ideas for the advertisement, you have a decision to make. Just where are you going to advertise your BMW?
A good traditional choice is your local newspapers. The classifieds are a natural place to advertise a car sale, and you can potentially reach hundreds or even thousands of prospective local buyers.
Another good traditional choice is to print up flyers and put them around town. It’s good to tape them in a variety of locations that range from telephone poles to local colleges.
Of course, there are some modern alternatives to these methods.
Modern Advertisements
Even if you aren’t doing an online auction, there are easy ways to sell your car online. Two of the main ways to do this are to use Craigslist or the Facebook Marketplace.
Craigslist is one of the best sites for bringing communities together. You can advertise your car on the closest local Craigslist site or even advertise on multiple sites within a comfortable driving distance. Buyers can contact you via e-mail or text.
The Facebook Marketplace is a newer option that allows you to advertise your BMW via social media. And an advantage to this is that buyers can immediately message you with questions about the car.
Selling BMW: The Bottom Line
Now you know the best tips for selling BMW. But do you know who can help you get things started?
At Cash Auto Salvage, we are all about getting you the best value for your car. To see how much you could get, come get a free quote today!
