You can sell most things at a pawnshop, but have you ever thought about selling your car to a pawnshop? You might be surprised to know that a lot of people do sell their cars to pawnshops or use them as part of a loan.
Naturally, your car is an expensive asset, so there are a couple of different things to consider before you can go and just sell it outright. Let’s take a look at what you need to know.
- Know the value of your car
If you’re going to sell your car to a pawnshop, then you’ll need to do a little research beforehand to get an estimate of what the car will be worth. Most people don’t know how much they could get for their vehicles and often underestimate their value.
Knowing how much your car is worth will help you when it comes to negotiating with pawn shops. Most of them are amenable to sensible offers for your vehicle, but if you don’t know their value this becomes a lot harder to do.
- Clean your car before you approach a pawn shop
If you want to sell your car to a pawnshop, then like any item, it needs to be presentable to get the highest value. The best thing you can do is clean out your car and have it detailed if there are any cosmetic issues on the bodywork.
This can make a big difference to selling your car to a pawnshop, and it doesn’t cost that much to have a car professionally cleaned – you could do it yourself in an afternoon. Naturally, it is up to you which method you choose, but you have plenty of options.
- Understand the difference between pawning and selling
When you sell your car to a pawnshop you have two options – to pawn it off on a loan or sell it outright. It is up to you which of the two options you pick but you need to consider it carefully.
Selling your car outright is simple – you negotiate on the price and make the deal. It is a quick and easy process in most cases. However, it is also permanent. You can’t go back for the car unless you buy it back, and even then, there is no guarantee someone else won’t buy it first.
A pawn loan is different, naturally. You use the value of the car to get cash, but you have a window in which to buy it back. This protects your car until you’re ready to take it back!
Making the Right Choice
So, it is quite easy to sell a car to a pawnshop, but you have to pick the right shop and the right way to go about making a sale. If you can do that, it’s easy to pick up value, which is good. Just be prepared to haggle a little – prices can vary and you may need to negotiate to get your desired results.