Challenges Of Selling Your Car In Kenya And How To Overcome Them
Selling your car is a tough decision. Once you make the resolution to sell, the sales process isn’t going to be rosy either. You’ll face several challenges, from deciding where to sell your car to setting the price, screening buyers, and transferring ownership. Every step of the process can be a headache for a first-time seller.
If you’re looking to sell your car, we have compiled a list of challenges you might face when you’re selling your car and how you can overcome them.
1. Difference in the expected value and market value
When selling your car, it’s natural that you’d want to recoup the price at which you bought it. This can make you overlook the depreciation your car incurs over the years. Additionally, the Kenyan automotive industry is quite robust with new car models constantly coming in and impacting the price of older models.
This, compounded with the fact that buyers are also looking to save money (the same way you’re looking to maximize your returns), the chances are that you will receive offers below your asking price.
However, this doesn’t mean that you have to sell your car at a ridiculously low price. Knowing how to value and price your car will help you find the perfect balance between the expected value and market value for your car.
Here’s how to price your car when selling.
2. Where and how to sell your car
After settling on the right price, the next challenge is to decide where and how to sell your car. There are various ways to sell your car, including:
- Personal networks- friends, family, and colleagues
- Sunday car bazaar at Jamhuri Show Grounds
- Social media platforms- Facebook, Instagram, Twitter, etc
- Online marketplaces- Jiji, PigiaMe, and Facebook Marketplaces
- Offline Platforms- newspapers, magazines, and bulletin boards in malls and other high-traffic areas
- Car Yards and Showrooms
Each of these platforms has its own advantages and disadvantages. You need to weigh these and find what works best for you. For example, selling your car on social media doesn’t cost any money but can be quite slow, especially if you don’t have a wide network of followers.
3. Accepting the first offer that comes your way
Be careful of being desperate about selling your car. If you need fast cash, it might be tempting to accept the first offer that comes your way. However, chances are that if you get one offer, you’ll get another that may be more in line with the market value. Patience is a virtue you’ll need to learn when selling your car. Unless this offer is really good or matches your valuation of the car, it’s advisable to consider others before deciding to sell.
4. Dealing with potential buyers
Setting the price, deciding where to sell your car, prepping it for sale, and listing the car on your preferred platform is only half the battle. The other half is dealing with potential degenerates.
If you’re selling to friends or family, they may try to lowball you, knowing your financial situation or feeling they deserve a “family discount.” You also have to watch out for scammers and jokers when receiving offers from strangers, especially from online platforms. You’ll have to work with people you don’t know, find a safe place for them to look at the car if you don’t want them coming to your home, and need to be sure you get your money.
This is why it makes sense to work with a dealer like Peach Cars who will connect you with the right buyer.
Four Simple Security Considerations To Think About When Selling Your Car
5. Transfer of ownership
The headache doesn’t end when you find a genuine buyer and agree on a price. You’re now headed to the most important part of the sales process- the transfer of ownership. Why should this bother you? The reason is that until the car is registered under the buyer’s name on the NTSA portal, you’ll be held liable for any damage to the car.
If the buyer is going to drive away with the car before the transfer of ownership is completed, ensure that this is clearly captured in the sales agreement then complete the transfer as soon as possible.
Sell Your Car in an Easy, Convenient, and Secure Way
These are the most common challenges faced by car sellers in Kenya. While not hard to overcome, we hope this guide will help you to sell your car at a great price without any hitches. If you need help selling your car, Peach Cars will do the heavy lifting so you can relax and wait for money in the bank.
We will advise on how to price your car, handle buyer screening, plan test drives, and help with the paperwork. Peach Cars offers you an easy, convenient, and secure way to sell your car.
