7 Reasons why selling off an old car beats any exchange offer

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04 Aug 2023

Read about 7 Reasons why selling off an old car beats any exchange offer. For more information, check out the car insurance policy from Kotak General Insurance.

The excitement of getting a new car in your garage is something that can leave you sleepless nights. If you have decided to buy a new car, the next and most obvious question is, what do you do with your existing car? A lot of us do not need multiple cars and prefer to exchange them for a new car. It makes sense.

Or does it not? Car dealers offer exchange bonuses and make it a lucrative deal to sell the old car to them and buy a new one. However, there are quite a few reasons why you should consider selling your car instead of exchanging it. You also need to consider a car insurance policy while exchanging or selling your car. you will not want to miss out on some of the benefits of your existing car insurance.

7 Reasons why you should sell your car

1. You can sell at any time

Car dealers usually have good offers on exchange at specific time periods. This restricts your ability to get a good deal for your car. On the other hand, if you choose to sell your car, you can do it at any time. There aren’t any restrictions or festive seasons that you must wait for selling.

2. Multiple ways to sell

Exchanging your car is usually a restrictive process that you must do with the dealer. But should you decide to sell your car, there are different ways for you to do so. For example, you can use social media to post about your willingness to sell the car. There are different classifieds websites where you can post an ad about your car.

3. Selling is faster

Selling your car can be a faster affair than exchanging it. Simply because for exchange, you are entirely dependent on the dealer. At times there are multiple stages of inspections. If the inspector or surveyor is not available, it can further delay the process.

4. Better price

You will almost always get a better price for selling your car than exchanging it. This is one of the biggest reasons to consider selling your car. If you are selling your car, ensure that you discuss the car insurance policy with the seller.

5. Ownership transfer process

Should you choose to sell your car, ensure that the ownership is transferred as soon as possible. This way, you will not be liable for unforeseen issues arising out of mishaps. Since there is no waiting the process is faster and you have better control.

6. Car manufacturer

When you sell your car, you can use the money to buy a car from any manufacturer. But on an exchange, you do not have any such options and must buy from the dealer.

7. Minimal terms and conditions

Exchanging your car usually comes with terms and conditions. However, selling your car does not come with any such restrictions.

Conclusion

There are a lot of perks of selling your car over exchanging them. Irrespective of which method you choose, do not forget to buy your car insurance online. Opting to buy car insurance online will save you a considerable sum of money and it hardly takes any time.


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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.