When your motor vehicle is uneconomical to repair due to accident damage, engine, transmission or electronic failure you have to weigh up your options and decide whether it is worth your while to have it repaired or sell it to recover as much as possible in monetary value. There are many ways of determining the value of your car should you want to sell it.
Advertising on the internet is always a good place to start as many of the classified sites are free. You can advertise your vehicle on a site such as LOOKING 4 SPARES where it will be advertised to be 'sold as scrap' to various motor spares suppliers and motor scrapyards absolutely free of charge! Alternatively you can register with one of our online auctioneers who will take care of auctioning your vehicle.
A simple calculation can be done by determining the year model of the motor vehicle, whereby the trade and retail values can be taken into consideration as well as the mileage, general condition of the vehicle and any other values that are worth including. Not many motor vehicles are worth the suggested retail price unless they have additional values that can be added such as full service history at a recognized dealership, new or reconditioned engine, transmission, gearbox or similar components that will add value to your vehicle, making it attractive to potential buyers.
Cars for sale by auction have one advantage worth mentioning and that is, in many instances the company or website whereby it is auctioned through entitles the owner to list a reserve price on the vehicle. In other words, you can offer the vehicle at a set price, ‘the reserved price’, before the auction commences and that price tag will automatically dictate the price at which bidding will start or a buyer can purchase the vehicle at the reserved price.
Motor vehicles sold by auction are usually sold ‘as is’ or ‘voetstoets’. This means that the vehicle is ‘sold as scrap’ and you buy what you see. If you are intent on buying a vehicle from an auction always try and start the motor vehicles engine. Engines that do not start can cost more than what the vehicle is worth.
If you are not ‘clued-up’ when it comes to the mechanics of the modern day vehicle always seek advice from someone who has a good understanding of the dynamics of ‘buying and selling’ or repairing the type of vehicle you are intent on purchasing or bidding on.
CLICK HERE for more information on how to sell your car, bakkie, motorcycle or truck. LOOKING 4 SPARES has an alternative method to advertise your motor vehicle and find the right buyers, safely and economically.