How to Sell Your Car
Selling your car yourself rather than trading it in at an auto dealership can pay off, especially if you do your homework.
Preparation and promotion are key, and today, both are easier than ever, thanks to the Internet. “The skills to sell a car used to be passed down informally. Your father and grandfather did it and you learned from them. The Internet has changed all that,” Whiteside says. You can use websites such as AutoTrader.com and Cars.com to research prices and advertise your vehicle.
The following tips should make the selling process easier and help you get a good price for your car:
Get ready. Before advertising your vehicle, clean it thoroughly, inside and out, and take care of any needed maintenance or repairs.
Set a price. Check newspaper classifieds and websites such as Edmunds.com and NADAguides.com to determine your car’s market value. When setting your price, consider your car’s condition and how long you’re willing to wait to sell it.
Advertise. Newspaper classifieds, community billboards or a sign in the window can work. Websites such as Craigslist.com, a free classified advertising site, are increasingly popular. In ads, list your phone number and use terms such as “best offer” or “must sell.”
Show the car. Meet prospective buyers at a local business or at your mechanic’s shop, Whiteside suggests. For test-drives or if the prospect wants a mechanic to examine the vehicle, ride along or keep the prospect’s car as security.
Present documents. Presenting repair and maintenance receipts, a note from your mechanic about the car’s condition, and a vehicle history report from Carfax.com can raise a potential buyer’s confidence.
Be ready to negotiate. Decide in advance the lowest price that you will accept. Think about how you’ll respond to requests for repairs, or to concerns about the car’s condition.
Finalize sale. Check with your state department of motor vehicles about how to transfer your car title. If the vehicle is financed, meet the buyer at your bank to work out the details. It’s a good idea to accept only cash or a cashier’s check as payment; if accepting a check, make sure it clears the bank before you release the car.
With proper research and preparation, selling your car yourself can be a pleasant and profitable experience.
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