June 20, 2021

Who buys used cars – All about selling and buying used vehicles

A temporary world is unimaginable without owning a vehicle. If you don’t have an automobile, you might think about getting it. And if you are limited in budget, you most probably think about purchasing a used car. Even-if you already own a car and want to sell it, you should know who buys used cars. Knowing the segment will allow you to save time and sell it sooner. 

Clarifying all the needed details related to either buying or selling a vehicle is a time-consuming process. You should search a lot to clarify which source is reliable. Nowadays when we all are limited in time, I’ve prepared guidance that helps you to save time. Below you will get all the useful information related to buying and selling used cars. So, let’s start the journey by exploring dealers and auction companies that buy used vehicles.

Who buys used cars? – All about dealers 

Selling and buying used vehicles is very actual nowadays. There are many people who prefer to handle the business separately as an individual and sell their “best buddies” by themselves. Selling an automobile by individual means that he/she should take care of the whole process, prepare the car, take photos, publish an advertisement on the websites, make appointments to the potential buyers, make paperwork, and many other things. But, there is another segment that wants to avoid the headache and sell their cars as soon as possible. If you see a resemblance to the next group and plan to sell a vehicle you should start the process by clarifying who buys used cars. The main source who is interested in buying a used vehicle is the Dealer. Below I’ll explain in detail all about the dealership, its advantages, and disadvantages. 

Selling a car to a dealer – Pros and Cons

Nowadays selling a vehicle to the seller is getting more popular. According to Statista, only in 2019 dealerships sold 69,000 used automobiles in the USA. Let’s review its advantages and disadvantages that determine the popularity and high demand to dealers.

Advantages

  • All the paperwork is done by the dealer. You don’t have to worry about the official part;  
  • Avoid making appointments and answering phone calls from buyers; 
  • Avoid making advertisements on the webpages. Some websites offer free announcements, but some of them don’t. Hence, you save money and time on the advertisements;

Disadvantages

  • Your car is evaluated by the dealer; hence you can’t negotiate for increasing the offered amount. You either accept the offer or not;
  • Usually, dealers underprice automobiles to get a profit after the sale; 

All in all, by selling your vehicle to the dealer you waste a time and avoid the boring official part, but you might lose some money. Below we’ll review details about people who buy used cars, but before this, let’s review some dealership companies and clarify in detail how they work and what they offer to the sellers. 

Companies that buy your car in the USA

There are many companies that are interested in buying your vehicle. If you plan to sell an automobile, you will find it useful. Let’s review some of them and clarify how they work.

Car Cash – The company has a long history since 1977. By using their service, you can sell your car in minutes. They can evaluate your car even via phone call or online, without visiting the office. 

Copart Direct – The online auction company is one of the leaders in the industry who buys used cars. It sells around 1 million used vehicles in a year and offers instant purchase. 

Cash Cars Buyer – The company buys vehicles in any condition, even if it doesn’t move! The CashCarsBuyer offers at-home inspection. They visit, evaluate the automobile and buy instantly. 

Ca$h for Car$ – The dealership serves in every state of the USA. They offer to sell your car within 48 hours. In case the vehicle isn’t sold within the timeframe, they offer free announcements on their website. 

Tips for people who buy used cars 

All the above-mentioned information mostly relates to an individual who wants to sell a car, but that part is oriented on people who buy used cars. On the one hand, buying a used vehicle might seem risky, as you have to check each detail and don’t have any guarantee from the manufacturer. On the other hand, it’s a very good decision if you are limited in a budget. Did you know that approximately 40 million used cars are sold each year, only in the USA? Everyone knows that purchasing a new car instead of a used one, is not profitable. If you get a new vehicle, its price depreciates in two or three years. For that reason, used cars are in high demand.

Nowadays, figures of people who buy used cars are increasing each year. Of course, it’s great to have a brand new automobile, knowing that you are the first and the only owner of it, but on the other hand, it’s not profitable. For instance, if you purchase a new vehicle, its price depreciates in two or three years. The new automobile has a 10% depreciation as soon as it leaves the lot, and the depreciation level increases up to 60% in three years. After realizing all the reasons, you know why there are so many individuals who buy used cars. 

Purchasing a used vehicle can be profitable if you check all technical details in advance. There are some tips that help you to make a good decision. Checking the following details avoids you waste of money:

  • The look – Check the interior and exterior in detail; 
  • Mileage – Less mileage is associated with a longer lifespan for an automobile;
  • Suspension – Make the test-drive to check how comfortable is the drive;
  • VIN code – by checking the VIN code you can clarify any detail about the car: insurance, accidents, warranty, previous owners, recalls, repairs, registration data, and even theft details;

Besides all the above-mentioned, by visiting a technician, you can be on the safe side. Hence buying a used vehicle isn’t risky at all!

Conclusion  

Hopefully, you found the above-mentioned information interesting and useful. All in all, we’ve discussed all the most important topics related to buying and selling a used vehicle. I’m sure in both cases, whether you are selling or buying a car, you will use the information in practice. After reading the blog you know dealers who buy used cars. Now you know that there is a huge variety and most of them offer to sell your vehicle maximum in 48 hours. Some of them even offer instant payment after the home-in inspection, hence selling a car became much easier and faster than in the past. 

Besides the legal entities, we’ve discussed people who buy used cars, which details should be taken into consideration, what is the difference between purchasing used and new automobiles, and many other details. I’m sure you have a much, broader view about selling and buying used vehicles after reading the blog and can make the best decision. Good luck!