Buying a new car can be a lot of fun, however, it’s getting rid of the old one that can be a drain. Trading in a vehicle is certainly the easy route, but does not always yield a fair and equitable return for your money. Selling your old car for market value puts the most cash in your pocket, so to get the best financial return, you want to make the most of your time and effort.
1. Cleaning.
First impressions pack a powerful punch, so be sure to clean, vacuum and wax your clunker until it gleams like brand new. Remove all your personal items from the nooks and crannies, using a coat hanger to sweep debris from under the seats. In addition, be sure to check the visors for sunglasses, cigarettes and any pieces of paper with your personal information on them.
2. Advertise.
Hanging a “for sale” sign in the back window limits your exposure to the car buying market, making a decent sale as slow as molasses. Try a local newspaper or Pennysaver ad for best bargain advertising rates, or you may wish to invest a bit more into a publication that only represents used vehicles to capture the interest of serious buyers on the hunt.
3. Blue Book Value.
The key to selling your old car is to know the current market value and set your price point competitively. Everyone wants a deal on their next vehicle purchase, so leave yourself a little leverage with the price for haggling. Your selling price should be realistic, fair to the buyer, and you need to be flexible with the final price.
4. Smog Certificates.
Most states require the current owner of the vehicle to have the car smog checked and the new tags put on the car. If your car for sale is not running, you may check with your DMV to declare your car a non-operational vehicle, thus waiving your responsibility as the owner to get the smog check.
5. Minor Repairs.
Sometimes making a few minor repairs, especially the cosmetic ones, can bring a better price for the old car. However, you do not want to invest too heavily into it in case you cannot get your money back on the sale. Used cars that are “sold as is” do very well on the open market and often indicate to the buyer that they are getting a deal.
6. Keep the Buyer’s Out of Your House.
There is no reason to let a stranger into your home when the purchase item is sitting on the street. For safety reasons, take all your documents to the driveway and do not let people see the layout of the home’s interior or set-up in your backyard.
7. Test Drives.
Test drives are a common request from a serious car buyer, but you may fall prey to an attempt to steal your car right from your driveway. Be sure to ask for the stranger’s driver’s licence and don’t give him the keys if you have a bad gut feeling. In addition, getting into the vehicle with a prospective buyer should be evaluated carefully for your own safety. It it doesn’t feel right, don’t do it.
8. Consignment.
Finding a local used car lot that takes vehicles on consignment is a viable option to get your money’s worth on the car and turn the responsibility of the sale over to a professional. You won’t get quite as much as selling the car yourself, but you will get more than a standard trade-in on a new car purchase.
9. Documents.
Have all your vehicle transfer documents in order and ready to be signed. Read through them carefully and understand what you must sign and which lines are for the buyer. You cannot make any mistakes with this paperwork and you don’t want to be fumbling when you have a buyer with cash in his cash. You may get all the necessary paperwork from a DMV, either in person or downloaded online, or visit your local AAA membership office for assistance.
10. Release Forms.
Although the date of the transfer of the vehicle is stated on the vehicle release forms, it is essential to take the form to the DMV or mail it in right away. This release form keeps you in the clear should the new owner get a traffic ticket, be involved in an accident or use the vehicle during the commission of crime.
Related Video:
How to Sell Junk Cars : How to Sell a Junk Car With No Papers
Additional Information:
Mahalo: How To Sell a Car on Craigslist
- What Paperwork do I Need to Sell my Car?
- How to Sell a Car Online?
- How Can I Sell My Car?
- How to Sell a Used Car?
- How to Sell a Car?
