Wanting to sell your second-hand car in Hong Kong?
Selling second-hand cars in Hong Kong can take a lot longer than expected. Why is this? Because the number of second-hand cars in Hong Kong available for sale generally exceeds the number of people wanting to buy second-hand vehicles.
This in-balance has been exacerbated in recent years as more expats leave than arrive in Hong Kong.
To help you get your car sold, we’re going to cover:
– Who to target
– When to start the process
– How to get your car sold as quickly as possible
1. Target a wide audience
Websites favored by expats for selling a car are Asiaxpat and Geoexpat. However, we strongly recommend you try to reach a broader range of potential customers. Place an ad on www.28car.com. This website is not available in English, but it is worth your time to ask for help to post an ad.
Another website you should consider is the bilingual website www.hkcartrader.com.
You will find a huge variety of brands available on both these sites including; BMW, Mercedez Benz, Porsche, Lexus, Tesla, and Toyota. Take the time to check what is being offered in the market.
2. Start the process early
It’s best to start the process early. If possible, start preparing to sell your car 4-6 months before you plan to leave Hong Kong. Starting the process may not be feasible for you, but the less time you have to sell your vehicle, the more anxious you will become.
If you don’t give yourself enough time, you will likely end up selling your car for less money than would be possible otherwise. The importance of starting the selling process early cannot be overstated.
3. Make your car looks good
You should spend the time and money to make your car look as good as it can. Making your car look good might not get you extra money, but if there are similar cars for sale, it might mean that it’s your car that actually gets sold.
To present your car in the best light, pull together all the service records so potential buyers can see your car has been looked after.
Also, consider repainting wheel rims to remove curbing and scratches, cutting and waxing the car, steam cleaning carpets to remove any odors, and repairing or repainting small areas or dents.
In Hong Kong, you will be able to get these repairs done cheaply and quickly. In places like Kwun Tong, North Point, and Mong Kok, there are several car repairs and cleaning sheds. Not only are these services cheap and effective, but they also tend to be done much more quickly than fixes done at dealerships.
4. Use your personal network
When you are selling a car, don’t forget to share the details with your friends via social media. People will generally feel much more comfortable buying a second-hand car from someone they know or have come referred by someone they know.
5. Sell for instant cash if you’re in a hurry
If you need to sell your car immediately, consider approaching companies that will pay instant cash for second-hand vehicles.
Vin’s Motors and Quick Cash Cars will both buy second-hand cars for cash. You can expect these prices to be lower than what you would otherwise receive, but sometimes instant cash will trump all other options.
Vin’s Motors, 2571 5867. 42, G/F, Tin Hau Temple Road, North Point.
Quick Cash Cars is an online company that stands by the claim that within 30 minutes from the technical inspection, they can give you cash for your car.
6. Consider importing your car
If you own a high-quality car, you’ve looked after it well, and you don’t want to sell it at a crazily low price; you could consider importing the car to your home country or next destination.
Importing your car to another country can be a good option because vehicles in Hong Kong generally have low mileage and remain in good condition.
Each country has different rules. You will need to check shipping costs and import duties. You also need to check whether your particular car is allowed to drive on the road in the new country.
There are many good shipping companies, but we have found that Teresa Yuen of Wilhelmsen Ships Service Ltd provides a good service at a reasonable price.
Teresa’s details: +852 2880 1612 or Teresa.email@example.com
7. Have the car’s documentation ready
Make sure you have every document related to your car ready to show potential buyers from the owner’s manual, logbook, to service records. If you have spent money on tires or any other car parts, be sure to keep all the receipts intact. Having all the documents ready will help to increase your credibility and should help to get your car sold. This is a critical tip for selling a car in HK and shouldn’t be ignored at any cost.
8. Honesty is the best policy
The best way to sell a car is to be honest about both the good points and the bad points. Make sure to list out any issues that you had fixed with your car before putting your used car for sale in Hong Kong. Also, be sure to mention any faults that still need fixing and be willing to decrease the price if that is the case. All this should help you attract more buyers since you are being transparent with your deal.
9. Set a realistic price range
Set the right price for your second-hand car sale. Do some market research to check out the current status of cars for sale in Hong Kong and accordingly quote the price. An overpriced car won’t attract potential buyers.
However, if you insist on sticking to a price that is above the market value, be ready to provide reasons as to why your price makes sense and what makes your car worth it. Are you selling it along with any special accessories, or have you had your car modified? Make sure you have an explanation for everything.
10. Allow test drives
You will find a number of used cars for sale in Hong Kong, so it is important to make sure your car stands out in order to sell it without any hassles. In addition to preparing the papers, determining a price range, you must also allow your potential buyers to take your car out for a test drive. In this way, your prospective buyers will feel more confident about the potential deal.
11. Stick to the price you won’t go past
Trying to conclude the sale of your second-hand car might require some tricky negotiations. So before you put your car on sale, work out the lowest price that you will accept. Once you reach that price, ask the buyer to either seal the deal or leave it. You have to be very strong at this point of your deal as you cannot accept anything less than its worth.
Start preparing to sell your car as soon as possible, this includes getting the paperwork ready and getting your car in tiptop shape. Don’t forget to have a deep understanding of the market before you put a price on your beloved vehicle.