Should I Sell My Used Car or Consign it? Which is Better?

Whether you should sell your used car or consign it largely depends on 2 main factors - time and price. For those who can afford to take some time to sell their car, and wish to get a price that is in the ballpark of what is seen on SG Car Mart for the same make, model, and age - consignment is a good way to go. However, if you wish to get rid of your used car fast, then selling direct to a dealer or trading it in would be the ideal option.

Consigning your car is a great way to get the highest market price of the vehicle, similar to the price you’ll see on car listings online. This however takes a little bit of time, typically a couple of weeks. During this period, your consignment agent or dealer should assist with a proper photoshoot of your car so as to increase its perceived desirability on the market, market your car at a reasonable and attainable price in the used car market, and attend to enquiries and viewings - all the way until they find you the highest possible offer from the best potential buyer. Your consignment agent would also be responsible for handling paperwork and documentation relating to the transfer of ownership, and redemption of your current loan. To facilitate the purchase of your vehicle by a potential buyer, your consignment agent would also assist with loan and insurance applications for the potential buyer.

Selling your car direct to a dealer is a great way to sell your vehicle quickly, and can take over your vehicle in a matter of days. However, the price you’ll get for your vehicle will likely be slightly lower compared to in a consignment arrangement.

Your choice of whether to sell your used car direct or consign it thus largely depends on where you stand between time and price. If you have a longer runway to sell your vehicle, make use of it to consign your vehicle and get the highest offers from a potential buyer. If you need to get rid of your vehicle fast, we provide competitive quotes for your used car within 24 hours of your enquiry. Find out how much your vehicle is worth here.