When choosing where to sell classic cars you can always go down the well beaten path and post it on one or two of the major automotive market places. And while that’s certainly a good option and one we will discuss in more detail later on, there are still a few potentially better options for you to consider that usually wouldn’t make sense when selling a normal vehicle. Some of those options require a bit more effort than others, some are safer than others and some are cheaper than others. Of course, each option will suit one person better than the next which is why we will cover each in detail including the associated fees, how time consuming they are, and most importantly, how safe they are because an expensive classic car is a magnet for all types of different scams. So, here is where to sell classic cars including a detailed explanation of how Exotic Car Trader works.
For those who love classic cars in general and the community that comes with it, selling their classic car through auction houses is one of the most popular methods. A reputable auction house will introduce your car to dozens if not hundreds of potential buyers in person, making it nearly impossible not to sell. Such auction houses are also extremely safe as all transactions are protected by the auction house itself, plus the buyers usually have the chance to inspect the car before the auction so they know what they are getting into. However, there are some downsides. For one, selling a car through an auction house isn’t necessarily convenient since usually the seller is the one who has to ship the vehicle to the auction or drive it there and attend the auction. Furthermore, while the car will almost certainly sell, there is no way of knowing what sort of price it will reach. The best thing you can do is set a reserve but reserves are usually set well under the car’s true value. Then there are fees. An auction house will take anywhere between 10% and 20% from the sale which is by no means cheap.
Visiting big classic car shows is another great way to present your car to thousands of classic car enthusiasts and dozens of potential buyers. A great thing about this method is that with a bit of luck, you will sell the car on that same day. There are also no fees involved and whoever is interested will usually know what he is looking at so the chances of getting low ball offers are very slim. That said, this method can potentially waste your entire day, and it’s even more inconvenient if there are no classic car shows near you. At the same time, negotiating with potential buyers in person isn’t everyone’s cup of tea. So, since there are no guarantees that you actually will sell your car, this method is best reserved for those who love classic car shows anyway and visit them regularly. It’s also important to check if the classic car show you intend on visiting actually allows car sales since a good number of them have banned it. Lastly, when selling a car this way you are open to scams as you are the one who is responsible for the money transfers and paperwork making this method fairly unsafe.
Classified ads and automotive market places have been the go to method of selling used cars for nearly two decades. Virtually no other method will make your car visible to so many people, not to mention it’s extremely convenient as in no more than ten minutes your car is being advertised to tens of thousands of potential buyers. In most cases, there are also no fees involved making it one of the cheapest and most convenient methods at the same time. But again, it’s one of the riskier options out there as the only two parties involved in the transaction and negotiations are you and the buyer. You will also have to meet with the buyer in person more often than not so your immediate safety is also potentially compromised. That’s especially true when dealing with expensive classic cars. And even if the buyer doesn’t demand to see the car in person, you as the seller are the one who arranges shipping making this method fairly inconvenient later on. Also, with no escrow protection, both the buyer and the seller are at increased risk.
Selling a car through a classic car dealership is the most carefree way to do it, and in recent years, there doesn’t seem to be a lack of such dealerships. The dealership essentially takes care of everything, from picking the car up, to advertising it, and eventually, finalizing the deal with the customer. Of course, the car does need to be in decent condition to make it onto the showroom floor. But it also needs to be worth enough where it makes sense for both the seller and the dealership itself. Such dealerships usually keep 10% to 15% of the sale or they charge a flat fee if the car is under a certain value, usually under $15,000. Also, the cars will usually sit for a while before they sell as this is one of the slowest methods for several reasons that we won’t go into. But this method is also one of the safest ones out there.
While each of the previous methods is essentially tailored for a specific type of seller, this one, we hope, should be the best all-rounder. First off, all sales done through Exotic Car Trader include escrow protection which means the transactions are safe but also entirely our responsibility. Exotic Car Trader will also send a professional photographer to your address regardless of which state you live in and post the car on our website for you. We also post every car to our partner websites like AutoTrader, CarGurus, eBay Motors and CarsforSale as well as our social networks which include Instagram and Facebook. This ensures your car gets as many impressions as possible. After that, potential buyers will send you online offers which you can accept, decline or make a counter offer all in a few clicks on our website. Once you agree on a price, we will arrange shipping and once the customer receives the car, your funds will be released from our escrow account. Moreover, this method is not only the most convenient and one of the safest, but also one of the cheapest. Exotic Car Trader charges 6,99% commission which is lower than both dealerships and auctions. Alternatively, you can go for our subscription plan and get flat fees regardless of the vehicle’s value which range between $3,500 and $12,500.
Ultimately, none of these methods are better than the other. If you want to get the most for your car, the best way to do it is through classified ads or classic car shows. But if you are after safer and more convenient methods, classic car dealerships and auctions are a better way to go. But if you want the best of both worlds, Exotic Car Trader makes the entire process even more convenient than classic car dealerships while offering the same amount of protection. And most importantly, Exotic Car Trader fees are lower than both dealerships and auctions, hence, being the best of both worlds.
Exotic Car Trader is the fastest growing marketplace built specifically for automotive enthusiasts. Click below to learn how you can sell your car with us.
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