Let’s be honest. You want to get the most money you can for your used car. Here is how to sell a used car to maximize your value.
In 2017, the number of used car sales climbed to an all-time high of 39.2 million vehicles.
Selling your used car is a fast, easy way to get the cash you need to buy a new vehicle or make another investment.
You may be wondering how to sell a used car to get its maximum value. Here are some tips to keep in mind.
Ways to Sell Your Car
Selling a car privately can get you more money than you would by selling it to a dealer. While it takes extra work and patience on your part, it can be the most lucrative option.
You can also sell your car directly to a dealer. This is a quick, simple process, but you likely will not get the best price possible.
You may wish to sell your car to a dealer as part of an exchange deal when purchasing a new vehicle. While this is convenient, it may not be the best way to get your car’s full value.
If your car is a newer model, you can shop it around to new car dealerships or online retailers. If, however, you have an older model, you may wish to sell it to an independent used-car dealership that specializes in low-cost vehicles.
If your car needs major, expensive repairs or does not run, you may only be able to sell it to a local car-wrecker for some cash. You can also donate it to a charity in any condition.
A car owner can also choose to sell through an online buying site. Keep in mind that your final value may be considerably lower than it would be in a private sale. You may also be required to pay a service fee to have your vehicle evaluated.
Selling Your Car Privately
If you do it right, selling your car privately can be a pleasant, profitable experience. Check out these tips.
A simple way to let potential buyers know your car is available is to put a “For Sale” sign in the window.
You can also advertise your car in local papers or social media. Village groups or local buy/sell communities are great places to let folks know what you have to offer.
Be sure to photograph multiple images of your car, with front, side, and three-quarter views. Sunrise and sunset are great times for pictures because there is minimal glare.
When advertising online, be sure to list your car’s make, model, price, mileage, and condition. You should also give your e-mail address and phone number.
Preparing Your Car for a Sale
Before attempting to sell your car privately, be sure to wash it inside and out. Get a fresh coat of wax, and use a special cleaner for the dashboard and other hard surfaces.
Wash the windows, and shampoo your seats and carpeting with an upholstery or leather cleaner. You can also splurge and have your car professionally detailed.
Be sure to compile a list of maintenance and repair receipts for prospective buyers to examine. Get a copy of your title, and make sure that it is fully transferrable.
You can perform an online title search, and print out the results to confirm your car’s past and present ownership. Any information about accidents or liens will also be in the report. This will assure prospective buyers of your honesty about where your car has been.
Sites like Kelley BlueBook or NADAGuides can help you determine the appropriate value of your car based upon its mileage, condition, and features. The price will also vary depending upon the region you live in.
You can also check out the National Highway Safety Administration’s recall database to see if there are any safety issues with your car. A clean record here can give potential buyers extra reassurance.
Making the Sale
You can communicate easily with buyers online. Sites like Facebook, Craigslist, and Autotrader make it simple to display photos and message potential buyers.
Be sure to respond right away when someone shows interest in your vehicle. If someone wants to take a test drive, arrange to meet in a public place during daylight hours. Ask to see a driver’s license beforehand.
When you are looking to sell, reject any offers that are unusually low. If you don’t get anything within your desired range for sale, however, it may be time to start considering lower bids.
If you agree upon a price with a potential buyer, you need to write up a bill of sale. This should include the make and model of your car, the selling price, and the names of the parties involved. Be sure to specify that you are selling the car “as is,” so it is clear that your car does not come with a warranty.
Don’t take a personal check for the sale of your car. Ask for a certified cashier’s check or cash.
Before handing over the keys, remove any valuables from the car. This includes personal papers from the glove compartment. You will also need to remove the license plates.
How to Sell a Used Car Made Easy!
Many folks end up getting less money for their used cars than they could obtain. With the right advertising, a nice detail job, and careful negotiation, you can reap maximum profits for your sale. A little knowledge about how to sell a used car can go a long way.
For more information on good car decisions, read our blog today.