People sell used cars for various reasons, including to buy a new one, to leverage high resale values, or to put money in their pockets. However, it isn’t easy, especially when selling privately. The process requires a lot of effort and time. You’ll also likely face more risks from test drives, screening prospective buyers, and accepting payment. Knowing how to navigate every step in a car-selling process is key to ensuring all the effort you’re putting in pays off. Discussed below are six tips for selling your car.
1. Decide where to sell
Once you’ve decided to sell your vehicle, you can trade it in, sell it privately, sell online, or sell to a junkyard. Trading in a vehicle means selling it to a car dealership and using the money as a new vehicle’s down payment. While this option is more convenient, usually quicker than selling privately, and has the potential for tax savings, you might be lowballed by the dealer. Selling your automobile privately means advertising it for sale and then selling it to an individual instead of a car-buying service or dealership. While this can get you more money than trading in, the process is complex and requires much more effort and time.
Alternatively, you can sell your vehicle to a junkyard. The sale is faster, and towing expenses and other costs are lower because junkyards accept cars in whatever condition. When looking for a junkyard, check for its credibility to avoid being scammed. For instance, if you live in Baton Rouge, LA, and want to sell your vehicle, an online search for ‘where is the best place to sell my car in Baton Rouge, LA,’ can help you find some of the most trusted used car buyers. This can help ensure you get the best prices for your old automobile.
2. Determine your vehicle’s worth
Understanding your car’s worth before selling it ensures you get a fair price. It’s a reflection of how your automobile has depreciated over time. When calculating your vehicle’s worth, gather critical information that may influence its value, including:
- Model, make, and year
Consulting price guides or car value estimators can help you determine your car’s correct value. Research the market to discover the demand for vehicles like yours and check how your car compares to similar vehicles. This can give the right information to ensure your car is correctly priced.
3. Get your car ready for sale
Preparing your automobile for sale before showing it to a prospective buyer enables you to sell it faster and at a better value. Besides looking attractive, a clean car proves it’s been well cared for. Getting your car ready for sale creates a great first impression, appealing to more buyers. Here’s what to do to prep your vehicle:
- Clean the car: Ensure the vehicle is clean in and out. Get the floor mats, paintwork, wheels, and car seats cleaned. Use an odor remover to eliminate any bad smell in the car
- Complete the necessary repairs: Check if the vehicle requires any repairs, including broken headlights and scratches, and complete the necessary ones. Also, ensure all the car fluids are topped up, and the tires are in pristine condition. If the vehicle requires significant repairs, leave them because they might cost you more instead of adding to the resale value
4. Gather the correct paperwork
Paperwork requirements for selling vehicles differ by state. However, some documents may be standard across all states, including:
- Title: It’s proof of ownership and consists of details such as car model, year, make, and identification number. Selling your vehicle without a title may be illegal
- Bill of sale: Your state may require you to provide a bill of sale to a prospective buyer. It includes the vehicle’s VIN, comprehensive description, sale date, and purchase price. The buyer and seller should sign a bill of sale once the car is sold
- Warranty documents: For vehicles with transferable warranties, the documents should be availed when selling as they boost the car’s resale value
Other paperwork like maintenance records and the car’s history report can enhance a buyer’s confidence while helping the automobile sell faster
5. Advertise your car for sale
Advertising your vehicle for sale is the best way to find prospective buyers and sell it quickly. You can advertise your car online by uploading photos of its interior and exterior on sites like Facebook Marketplace, Craigslist, and others. You can also opt for traditional advertising methods like:
- Newspaper ads: They help you reach the regional or local audience. A good newspaper car sale ad should include the vehicle’s price, mileage and condition, the car build, make, and model, plus your contact details
- Window sign: This comes in handy if you intend to keep driving the car as you look for a potential buyer. It involves adding a for sale sign including your contact information on the automobile’s window
- Word-of-mouth: You get the word out about selling your car through friends, family, or workmates
6. Provide test drives
Test drives enable buyers to learn more about the car’s functionality, features, and comfort. This eliminates misunderstandings about the vehicle and takes a potential buyer from the consideration phase to the purchasing stage.
The vehicle-selling process can be complex. However, implementing these car-selling tips can ease things up.