How Does Online Car Selling Work?
Selling your car doesn’t have to be a long and difficult process. Car-selling companies can provide you with a quote for your used car within minutes and offer convenient features like instant cash transfers and at-home pick-up. Often easier and almost always faster than selling on a marketplace to private buyers, car-selling companies offer clear terms, quick appraisals, and added security.
We’ve selected the car-selling companies on this list based on a variety of factors, including how easy it is to create your account and provide information on your car, how long it takes to receive a quote, the number of drop-off locations, and more.
Compare the top 10 best companies and find one that’s right for you.
FAQs
How long does it take for a car to sell?
The companies on this page enable you to sell your car online in just a few days. Most can provide you with a quote within the hour and will give you up to a week to accept or refuse. After accepting the offer, you can drop off your car, or, in some cases, have it picked up, followed shortly by a bank transfer for the agreed amount.
How does my car’s mileage affect its price or value?
Mileage is one of a few important factors that help determine a car’s value. Generally speaking, a car’s value decreases by about 20% every 20,000 miles. For example, if you purchase a new car for $40,000, its value could be estimated at $32,000 ($8,000 less) after 20,000 miles, and $24,000 ($16,000 less) at 40,000 miles. Some companies won’t purchase cars with more than 150,000 miles or more than 25,000 miles per year.
What information do I need to provide to sell my car?
While this varies from company to company, most companies will request the following information from you to sell a used car.
- A detailed description, including the car’s features and condition, the year, make, model, mileage, body style, and, if possible, trim model.
- A valid registration (US) or V5C (UK) matching your name, address, and the license plate number
- Evidence of your car’s service history
- Your ID and proof of residence (e.g., a utility bill or bank statement)
What are Car Selling Companies?
Car-selling companies purchase used cars and then either sell them to new owners or strip them for parts.
In this way, they differ from car-selling marketplaces, where you connect directly with a private buyer. Instead, you simply provide a description of your car (with the aid of a detailed online form) and all the necessary documents and the car-selling company will then offer you a quote, which you can accept or refuse.
Some car-selling companies also allow you to exchange your car for a discounted price on a new-to-you car. This is known as a “part exchange.” The process works much the same way as selling your car: you receive a quote based on your information, which is then deducted from the purchase of your new-to-you car. In most cases, the company will pick up your old car at the same time as they drop off the new one.
What You Need to Know Before Choosing a Company to Sell a Car?
There are a few things you’ll need to know before deciding which company you want to sell your car to.
- Know your car’s worth. While you don’t need to worry too much about scams when selling your car to a professional reseller, it’s still a good idea to have your car appraised by a third party before selling. This way, you’ll have a better idea of who’s offering you the best deal and how fair their offer is. It also provides you with the means to negotiate your price, for companies that are willing to budge on their offer.
- Have your paperwork in order. Selling a car isn’t as tedious or time-consuming as selling a house, but there’s still a fair amount of paperwork you’ll need on hand for getting your quote, including your car’s service history and registration, and your own ID and proof of address. The providers on this page all provide a list of the required paperwork on their website.
- Read the fine print. Every car-selling company has different conditions, both for sale and purchase, so be sure you understand exactly how the transaction will take place when you’ll receive your money, and what your responsibilities are. It’s unlikely you’ll be able to buy back your car, so be sure you’re happy with everything before handing over the keys.
How Does the Car-Selling Process Work?
A car-selling company makes it super easy to sell a used car. Rather than having to create an advertisement and haggle with private buyers, you simply provide a few pieces of information directly to the company to receive the quote.
In most cases, you’ll start by filling out a very simple form, including your Vehicle Identification Number (VIN) or Registration number, mileage, service history, and the car’s overall condition. You’ll then be asked to provide supporting documentation, including a valid driver’s license or passport (as proof of identity) and proof of address (e.g., a utility bill or bank statement).
Of course, you’ll also need to provide the company with at least one set of keys, and any accessories that came with the car, such as spare seats, spare wheels, a tire inflator kit, SD card, or wheel-locking key.
After providing all the information, you’ll receive a quote — typically within a few hours, sometimes in just a few minutes. You then benefit from a period of a few days to a week to accept or refuse the offer. If you accept, you’ll be asked to either leave your car at a warehouse or sales lot, or arrange a time to have a representative come and pick it up (which usually costs extra).
After handing over the keys, you’ll receive a bank transfer for the agreed amount or, in the case of a part exchange, have the opportunity to pay the outstanding balance for your new-to-you car.
