There are many people who tend to sell their used car for several different reasons. Some say I want to sell my car for cash, others want to sell it to make room for a new car. For those who want to sell car for cash, there are several outlets which claims that they will buy a used car for cash. Among these, there are some who delivers to these claims while others might not deliver.
Some private car buyers as well as car dealers have a certain degree of skepticism when it comes to settling car related transaction in the form of cash. The main concern for private buyers is that they can’t carry around a large bundle of cash to the seller. On the other hand, the car dealers don’t like to settle the deal through cash because that will require paying on the spot and not as credit and even after paying them, the seller may negotiate for more money if they feel like it’s less. For these reasons along with others, not many car dealers are willing to buy used cars for cash.
Keeping this in view, people might ask there are certain car dealers in the UAE that do claim to buy cars for cash and they deliver. Despite their claim, they might have some conditions attached, in order to fulfil such a transaction. So while you are selling a car for cash to such a used car dealership, there are certain factors that you need to make sure are present in your used car. Here we will discuss these conditions used car dealerships impose before buying your car for cash.
Sell my Car for Cash if its Two years and less
One of the major condition of car dealerships when accepting a used car for cash is that the car should be at most 2 years old. This is because used car dealerships look at a used car and value it in terms of its resale value. Naturally those used cars which belong to a relatively new model will have a higher resale value. It will also have a higher demand among the car buyers in the used car market.
So if a car seller walks in the car dealership with a car belonging to a new model and say I want to sell my car for cash, the car dealer will surely accept such a car. The amount that they might still pay may be less than the resale value of the car as they might spruce it up before they sell it further.
Force to take a Trade in Option
Most of the car dealerships who claims to buy cars for cash most likely would force their customers to sell it using the trade in Option. Trade in Option is when the car seller can exchange their used car for a brand new model car and paying the amount over and above the worth of the used car to match the value of the brand new car.
Used car dealerships favour the trade in option because they can always overestimate the value of the brand new car and devalue the used car when it comes to its valuation process. This way, those car sellers who wanted to sell their car for cash might actually be lured with the prospect of getting a brand new car for less amount and car dealership can be exempted from paying cash altogether.
In order to avoid such a tricky arrangement by the car dealership, it’s always better to prepare yourself by knowing the value of your used car as well the value of the brand new car, if you actually want to avail the trade in option.
Scamming the Car Seller in terms of payment
There are several car dealers who may want to buy a good conditioned used car but pay less for it or not pay at all in order to benefit their own business. In case of paying in cash, these car dealers cannot con the sellers in that way thus the hesitation of accepting used cars for cash.
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