Need to sell your sports car? Here’s how to do it quickly without getting low-balled.
Sports cars are meant to be driven and enjoyed. There’s nothing like letting the horses run on the open highway behind the wheel of a Corvette Z06. But, when it comes time to sell your sports car—whether it be because of a divorce, a change in lifestyle or just because you want to upgrade to a newer model—it can be difficult to find qualified buyers.
The Mazda MX 5 is a mere $25K while a Dodge Viper, Jaguar or Mercedes can cost well over $100 grand—but, no matter the value of your sports car, you want to get top dollar when you sell. You know what your sports car is worth and you don’t want to sell it for a penny less.
So, what’s the best way to sell your sports car: dealership, private party sale or selling to a sports car broker?
Selling private party vs. selling to a dealership
If you are looking to upgrade your car to a newer model or more exotic make, your first thought might be to trade it into a dealership. This is a good way to get an exceedingly low offer on your sports car.
Dealerships are very picky about their inventory. BMW dealerships don’t want to accept Mercedes trade-ins. Audi dealerships will low-ball your Corvette trade-in. Dealerships specialize in selling one brand of cars, and are reluctant to accept cars of another luxury brand, either due to franchise agreements or because they don’t have experience in selling that car.
So they give you a very low offer hoping for one of two things: (1) you walk away and they avoid the hassle of trying to sell your off-brand car or (2) they get your sports car for so cheap that it would be impossible not to make a profit. This is why selling to a dealership is basically asking to get ripped off.
Coming off of low offers from dealerships, many sports car drivers try to sell their car through a private party sale hoping to make a profit. This is a mistake unless you have extensive experience brokering deals and selling cars.
Luxury sports cars typically drop about $1,500 in estimated value every month. You probably pay well over a grand per month for your payoff. Plus insurance. And because the average private party sale takes 2-3 months, you’re liable to lose more money than you stand to make in profit.
Private party sales can be made more difficult if you have a payoff, or the potential buyer needs one. See, your bank will want your car completely paid off before they’ll let you transfer the title. Your buyer’s bank will likely need the title before offering a deal. This can make facilitating the deal difficult.
Even if you do make a profit, you’ll have wasted months of your time. Plus, finding serious buyers is difficult. If you have a nice car, you’ll likely spend a lot of time giving ”free test drives” to people who have no intention of actually buying your sports car.
Sell your sports car for cash today!
At I Buy Luxury Cars, we’ll pay more than the dealership for your sports car. We guarantee at least its Kelley Blue Book ICO and we can wire it to you in 24 hours or less. We’ll even buy cars with payoffs.
Here’s how it works:
- Submit your car’s information
All we need is your car’s VIN and a couple photos.
- Evaluate your offer
Our Appraisal Team of industry professionals will get back to you with an offer. No back and forth. No hassle. Just a take-it-or-leave-it cash offer based on market conditions and your car’s condition.
- Cash out in 24 hours or less
Once you accept our offer, we’ll wire you the cash within 24 hours so you can move on. Put the money in the bank or buy that new car you’ve had your eye on.
It’s quick, easy and it’s focused on you, the seller. Don’t believe us? Just ask our past clients—they have some pretty good things about working with us.