Our question: Where have all the private sellers gone? Most private sellers still believe they only have two options: sell it to a dealer (instant cash offer or trade-in) or sell it yourself online.
Dealers seem to be offering decent trade-in offers if you buy a car from them (1 out, 1 in), but many of the big dogs like Carvana, CarMax have pulled back from doing instant cash offer acquisitions to match sales and inventory levels
Popular private seller online posting sites like Autotrader, Craigslist, FB Marketplace, eBay, etc look like ghost towns when you filter by "private seller" vs dealer. This shift will likely continue until a vaccine is developed for COVID. Private seller option has always had its share of real dangers - scams, assault, identity theft, etc., but how many private sellers will open themselves up to COVID illness and even death for the chance to get more money for their car vs the traditional dealer options?
As we have posted here a few times, going forward the alternative smart and safe option for private sellers is clearly Consignment. For retail and food businesses, the safe and convenient new option for consumers is take out or home delivery. For private party selling of used cars (and RVs and Motorcycles) its definitely Consignment.
We provide a free and easy online tool to all private sellers to connect with dealerships that provide consignment services. And we help dealers to expand and grow their inventory sourcing strategy by connecting them with private sellers in their area. Learn more today. We believe its the smart and safer selling option going forward.
