Car owners can face a lot of difficulties and risks when they decide to sell their vehicles privately, especially if they are first-time sellers. Private selling of a car involves sellers to look for a potential buyer and dealing with all the essential paperwork without any professional help. There are also some other challenges for sellers such as car frauds, risk of financial loss and difficulty in negotiating for a fair resale price. Private selling of a used vehicle can, therefore, be quite challenging and full of risks for inexperienced sellers and even for those who have some prior experience of selling vehicles in the used car market. Understandably, less experienced sellers are vulnerable to car scams and can be easily tricked by people with fraudulent intentions.

In recent times, many cases are recorded where innocent car sellers are tricked by fraudsters and unauthorized dealers. It is important for car sellers to have relevant information and understanding of the market dynamics and to avoid fraudsters. It is ideal for car sellers to have comparative analysis of all the available options and opt for the most reliable and credible method of selling their used vehicles.

Unauthorized Dealers and Car Scams

There is a potential risk of frauds and scams involved in private selling of a vehicle, making it a tricky and less suitable way. First-time sellers should always remain careful as people with fraudulent intentions are on the lookout for such vulnerable sellers. Since, it is difficult for inexperienced car sellers to distinguish between a genuine buyer and a fraudster, they can become easy targets and more vulnerable to be tricked into fraudulent car deals and car scams.

In the UAE, there are several unlicensed dealers in the used car market who can trick car sellers by faking their identity. Such unauthorized dealers are not allowed to sell or buy any vehicle, which is why sellers must remain cautious and avoid unlicensed dealers at all costs. It is in the best interest of the car sellers to look for a reputable and credible dealer to sell their used vehicle.

In addition to this, selling a used vehicle through classified website involves risks for car sellers as there is no mechanism to verify the authenticity of users of such online websites. There is also no monitoring of any kind, when selling a car private on classified websites, making it a less suitable and unsecure platform to sell any vehicle.

Also read: Experts’ Tips to Sell your Car in UAE

Difficult to Find Serious Buyer

The difficult involved in finding a potential serious buyer is a major concern for car sellers when selling a vehicle privately. If car owner opts for selling their vehicle through classified websites, then it can be challenging to find a serious buyer as it can take several weeks. For attracting the attention of potential car buyers, classified websites can help car sellers to advertise their vehicles but it can be time consuming process. As several car buyers may show interest in buying a vehicle immediately but may delay their decision to inspect or test drive it. Therefore, even after waiting for several weeks there is no guaranteed purchase when selling car privately on classified websites. However, car sellers will not have to face this problem if they decide to sell their vehicles through professional dealers or professional car buying companies.

Risk of Financial Loss

When selling a vehicle through car dealers, there can be a significant risk involved of financial loss. Professional car dealers are highly experienced people who can convince car sellers to sell their vehicles at a low price and leverage the price in their favour. The level of a financial loss can be even higher if the seller does not have the prior experience of selling a used car. As inexperienced sellers do not have the required negotiation skills, then dealers can easily trick them into selling their vehicles at a low resale value. On the other hand, car dealers also give the option of trade-ins to sellers who are looking to buy a new vehicle after selling their old car. A trade-in deal refers to selling a used car and buying a new car from the same dealer with the seller having to pay the difference between the two payments.

This kind of trad-in deal can be less beneficial for the seller since dealers consider such deal as a single transaction. It means that the customer will only benefit from either selling a car at a good price or by getting a discount on the purchase of a new car in a trade-in deal. One can get both these benefits by separating the two transactions, by avoiding selling a used car privately.

Also read: Why is Car Evaluation Important to Sell a Used Car at a Fair Price?

Unsecure Payment Process

Selling of a vehicle through classified websites can be unsafe due to the absence of any monitoring or secure gateway for the transactions. Few incidents were recorded in the past where a dud cheque was given to the car seller as the payment against a vehicle’s price. Therefore, car sellers should remain careful and avoid accepting a cheque whenever they decide to sell their car through classified websites.

Handling All Involved Paperwork

 Car owners who choose to sell their vehicle privately also have to handle all the involved paperwork when selling a car in the UAE. There is a comprehensive paperwork involved in car selling and it can be challenging for inexperienced sellers to gather all the essential documents, without any professional help. However, sellers can choose a reliable car buying platform that offers a service of handling all the post-sale paperwork, without any costs.

Bottomline

Private selling of a vehicle involves many challenges and risks for car sellers. Selling a used car to professional car buying companies is the safest way to sell a used car in the UAE. These car buying companies offer a hassle-free process for selling used vehicles and can buy used vehicles quickly to save time and effort of the sellers. Car sellers should look for a credible and authentic platform as it can help them avoid fraudulent deals while selling used vehicles.

Planning to sell your old car then BuyMyLuxuryCar.com can be the right place to sell your used car. Get a free valuation of your car for sale to know the best price of it.