Ok, let me share my experience in selling and buying used car which I did for the past few months.

Carsome, MUV, carlistbid, mytukar and so on all uses the same method of dealing with used cars. They gave people the image of them being fair but their prices are far from it. What is good about them is selling car to them is hassleless. However, the price they offer will be lower than used car dealers as they sell in bulk to them.

Used dealers are hit and miss. Some will try to offer you crazy low price (lower than Carsome) but some does offer higher. It is up to you to negotiate with them. They will give you all sorts of excuses to lower the car value because for them, it's minimum cost and maximum profit. What I do not like about them is they charge extra for admin fee to buyers (3-4k) and they will always change mileage. They don't really care about the internal condition, only look at car manufacturing year. For external condition, they definitely will use to nego down the price.

My advice is, if you want quick and easy go for carsome (and the likes). If your car condition is not so good, go for used car dealers or carsome. If your car is in good condition then try to sell it by yourself. You will definitely get higher price. Selling yourself is a bit hassle as you need to do name transfer by yourself. You need to spend time meeting with potential buyers. There is a matter of trust as well. Do you pass the car to buyer first or do you ask money first or do you ask half-half or how? In both cases where I buy and sell car I had to put my faith in the other party. If you are a paranoid person then go straight to carsome.

As for the profit margin, yes. Used car dealers are leechers. They will try to make 5k or even 10k from you without issue sleeping at night. At the same time, they will sell you a car with problem and tell you it is working fine.

The profit of 22k is not impossible but rare. I believe they do get this kind of deal once a while. For people who are lazy to do research or people who knows nothing about cars.

So having said that, it all depends on you as the seller, how you want to get rid of the car. What is your priority? Selling it quick and easy or higher price or what? You decide.

This post has been edited by abubin: Oct 17 2019, 03:26 PM

It's not a problem for them to make profit. It's how they are doing it that is disgusting. Also, you can't expect to make 5k profit from a 15k car compared to 30k car. Need to be fair and use percentage instead. But most of all, I hate the way they try to put in lots of hidden costs, not being honest about the car status and not honoring warranty. Do it properly and make less profit. Build up a business model that you can survive without resorting to shrewd business practice. In fact, majority of the automobile industry here is run using a very unhealthy way except for big dealers and car manufacturers. From garage to halfcut to used cars.

I remember an uncle I know that run a car halfcut import/export business. It is run using the shrewd Chinaman method. When he pass away, the whole business crumble because he owe people a lot of money. All this while, he has been living luxuriously on other people's money. After he pass, his family had to bear the consequences. His family that has been living in bungalow has to sell it off and the wife ended up selling noddle in hawker stall. That is not how you run a business.