When the time comes to say goodbye to your trusty truck and upgrade to a newer model, there are a number of ways to sell it.
To help you decide, we’ve put together the main options you’ll need to choose between, and the upsides and issues with each.
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If you want to extract the most money out of the deal, then selling to a private buyer is usually the best route to take.
To do this you’ll either need to post an online ad or take out a listing in the local paper. You could even talk to friends and family to find out if anyone is in the market for a vehicle like yours or spread the word via social media.
The problem with a private truck sale is that you’ll need to deal with the buyer yourself, which involves fielding phone calls, allowing test drives, and negotiating a price with a total stranger. This can take up a lot of your time, so bear that in mind.
Selling to a dealer
A swifter and easier way to sell a truck is to visit a local dealership and ask them to make you an offer. You will typically find that dealers will offer you a lot less than the average resale price of a vehicle because of course they’ll be looking to sell it on themselves and make a profit.
While this might seem unfair, the reality is that car dealers are easier to handle than private buyers, and they won’t mess you around when it comes to things like paying in a timely manner. So again, it’s about striking a balance and knowing what you’re hoping to get out of a transaction.
Selling used commercial trucks
Trying to sell a commercial truck to an average private buyer or even a dealership that focuses on passenger vehicles will not be ideal. This is because you need expert knowledge and experience to understand the ins and outs of commercial trucks, and to have appropriate expectations relating to things like mileage, condition, and specific vehicle specifications.
Selling at auction
Adding your truck to an auction, whether it’s one that takes place at a brick-and-mortar location or online, is another common option to consider.
The upside is that you don’t need to negotiate on price but can simply set a reserve and see if there’s enough interest among the bidders to reach or even exceed this amount.
The downside is that if your truck doesn’t sell, then you’ll be stuck with it, and you’ll either need to add it to the next available auction in the hopes that the second time around will turn out better or choose a different approach altogether. There’s also the question of commission, which all auction houses take from sales.
Thoughts on preparing your truck for sale
Whichever way you decide to go about selling your truck, it’s best to take steps to prepare it properly before you start showing it to potential buyers.
Having the exterior and interior thoroughly cleaned by professionals, or going over it with a fine-toothed comb yourself, so that it’s free from dirt and grime will add hundreds or even thousands to the valuation, for example.
You should also check current market values for the make and model of your vehicle, so you know whether the offers you receive are competitive.