You may have heard that selling a car yourself, rather than trading it, can result in a better selling price. In many cases, this is true. How do you capitalize on this, and get the most money out of your old car?
Selling your old car by yourself can be tricky. You have to advertise it, be available for test drives and be prepared to negotiate with potential buyers. That's why your friends at Auto Credit Express have come up with these suggestions for selling your vehicle for top dollar.
Getting the Most Money when Selling Your Old Car
Your number one goal when selling your old car is to get the most money possible for it. However, doing this is rarely an easy task. By following these tips, both you and the buyer should walk away from the deal happy.
- Know the market. Certain vehicles, such as convertibles, sell better at different times of year. You also want to check local listings and sources like Kelley Blue Book to see what the vehicle is going for.
- Make it sparkle. Your car should sparkle inside and out. Be sure to remove all personal items, and consider deep cleaning the carpet and upholstery.
- Spring for a vehicle history report. This will show buyers that you have nothing to hide, and saves them from having to obtain one themselves.
- Create eye-catching ads. Advertise your car online through local classified ads and places like Craigslist. You should always be sure to include several good pictures of the car, and consider having more available to email to potential buyers.
- Place a For Sale sign on it. Whenever you are parked somewhere where people are likely to see your automobile, place the sign on the windshield. You can include information such as price, mileage and your phone number.
- Answer your phone. You will get phone calls from numbers that you don't recognize. Make sure to always answer your phone, unless it would disturb others. If you do allow it to go to voicemail, call the person back as soon as possible.
- Be available for test drives. People will want to test drive the car before committing to the purchase. Either you or someone you trust should always go with the person, to ensure that the automobile comes back in one piece.
- Allow serious buyers to have the vehicle inspected by their mechanic. However, don't just hand over the keys to them. Go along on the trip, so you can talk to the mechanic and see the report for yourself.
- Prepare for negotiations. It's important to know ahead of time what your minimum selling price is. That way you can effectively negotiate.
- Get the purchase price in the form of a cashier's check or cash. Make sure to provide a bill of sale to the buyer to prevent any disputes later on. Sign over the title. Depending on where you live, this may require a visit to the Department of Motor Vehicles with the new owner.
As We See It
Selling a car by yourself can work out in your favor, if you're willing to put in the time and effort. When you're ready to purchase your next vehicle, you can count on our network of lenders to get you the best possible rates on a new or used car loan. Simply fill out our online auto loan application to find out how much you could be approved for.