How to Get the Best Price When Selling a Car in Gaborone

How to Get the Best Price When Selling a Car in Gaborone

Selling a depreciating asset like a car is challenging. When demand is low and there’s a glut of pre-owned vehicles on the market, you may not get the price you want.

An easier alternative is to leverage the equity in the car by taking a short-term loan against it. Lamna Botswana offers instant cash loans backed by fully paid-up vehicles and other valuable assets.

It’s essential to know how to get the best price when selling a car in Gaborone, how to establish a fair value and what the most effective sales channels are.

What’s unique about car sales in Botswana?

Due to the sparse population and limited infrastructure, Botswana’s car market is comparatively small.

It’s dominated by second-hand imports from Japan, the USA and EU. The knock-on effect is used car values are typically low and drop sharply each year.

Only a small percentage of new cars, around 25 to 30% of the country’s total fleet, is imported from South Africa.

Using a Gaborone dealership to sell a car

Car dealerships are in the business of buying and selling cars. Transactions are conducted swiftly. All the paperwork is handled on your behalf and the money is in your account almost immediately.

Concluding a sale through a dealer saves time and effort, but the convenience comes at a cost.

Dealers pay trade or wholesale prices for used cars. That means you’ll get a lower price than if you sell the vehicle privately.

Increasingly, dealers operate online and reach a much larger audience of potential buyers. The upshot – even quicker sales.

If selling through a dealer sounds like the ideal solution, here are a few car sales platforms in Botswana to contact.

Pros and cons of direct car sales in Botswana

Private vehicle sales attract higher prices for a simple reason – there’s no middle-man to take a cut.

However, dealing directly with potential buyers is time-consuming and stressful. You have to arrange viewings, test drives and handle all the paperwork. At the end, there’s no guarantee of a sale.

Also, selling the car directly heightens the risk. Opportunistic criminals keep track of private car listings and prey on unsuspecting owners.

There’s a risk the car will be stolen or you’ll be scammed out of the proceeds of the sale. It may even endanger your life.

Determining the market resale value of the car

When determining the price for your car, the book value is a good starting point. Sites like the Kelley Blue Book, Bookvalue, AutoTrader and the Automobile Association of South Africa offer free online valuations in US dollars or South African rands.

Once you have a ballpark figure, check current resale prices for similar cars to yours, online and in classified ads. Look for the models closest in age and mileage.

If you go the dealership route, get offers from at least three dealers before concluding the sale. That way, you are assured of getting the best trade price for your car.

An alternative to selling your car if you need fast funds

A rushed sale is seldom a good idea. It takes time to get the best price when selling a car in Gaborone.

If you need funds, a quick, easy alternative is to use your vehicle to secure a short-term loan.

At Lamna Botswana, we offer fast, discreet loans against the value of a wide range of assets, including cars and other vehicles. For more information about using an asset to secure a short-term loan, contact us on 71 388 088 or simply complete and submit our online application form.

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