How to Get Rid of Your Car Used for Business
If you’re going out of business or want to upgrade your fleet, you might be wondering how to get rid of your car. You’ve used it for business and it was a great car but it’s time to move on.
How do you get rid of it without a lot of hassle? Continue reading this article as we go over your options of how to get rid of the car you used as a company vehicle.
Look At All Your Options
There may be options that you don’t even know about. It is important that you look at each option as well as its pros and cons before you know which option is best for your situation.
The most popular options you’ll find are as follows:
- Online Sales
- Employee Sales
If you’ve got a junk car and you’re wondering how to sell my junk car, it’s a lot different than if your company car was well taken care of. Before you start looking at the options we are going to go through, know whether your car is a junk car or if it still has years of value.
If you want to give the most buyers the ability to access the information about the vehicle you’re selling then online sales might be the best option for you. There are many sites that allow you to post on their directory for a small fee.
If your company vehicle has a wrap on it, it might make it more difficult for you to sell to the general public as is. You might consider taking it off before you put it up for sale or you’ll need to drop the price significantly so the buyer will be able to pay someone to get it done for them.
While online sales are a good option, it can take a while for your car to sell. If you want to get rid of your car quickly, this might not be the best option for you.
When you want to get rid of your car quickly, auctions are a good way to go. If you don’t set a minimum that you want to get for your car, you’re sure to get rid of it that day.
Auctions may not be the best place to get rid of your car if you want to make a profit since you’re at the mercy of the crowd that is buying the cars that day. If you do set a minimum price and don’t get it, you’re going to have to pay any fees associated with the auction and you’re taking the car back with you.
Wholesalers will often buy your car for a low price so they can sell it again for a low price. Wholesalers are looking for a good deal so you should be ready to get a minimal price for the vehicle you’re bringing to them and there’s not likely to be any room for negotiations.
If your company car is desirable, your employees might be interested in having it as their personal vehicle. You can offer an employee-only sale so your employees can get a good price for a car and you won’t have to go to a lot of trouble finding people that are able to buy it. You already know your employees have a job and the ability to repay their debt.
Donation is a good way to get rid of company cars if you want to get a tax write-off for the vehicle. You’ll find many charities take cars as donations because they are able to get money for junking them or selling them if they are nice enough. You can search online to find charities that will take your car as a donation.
Depending on the company that you’re working with and the number of company cars you have, you may be able to trade them in on your next purchase. While trade-ins don’t fetch as high of a price as privately selling the vehicles, you can be done with it quickly and get what you want.
Which Option Is Right for You?
Look at the company car you need to get rid of and determine whether it is a junk car or if it has years of life left in it. After that decide whether you have time to take care of the sale on your own or if you want to get rid of your car quickly.
If your car is junk, you might take it to a junk car buyer or donate it to a charity.
If your car is still in great working condition, you might try to sell it privately to get the best price. When you’re pressed on time the wholesaler or auction option may be the best for you.
You also have to consider things like whether you want to make a profit on the car and have to put it on your taxes or not. Consider all aspects of the deal before you decide which option is right for you.
Now You Know How to Get Rid of Your Car
Now that you know how to get rid of your car that you used for business, why stop learning there? Our site has many other business articles that can help you as you advance your company.
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