Selling a car can be tricky; there are plenty of hoops to jump through, especially if you’re trying to do it all independently. That’s why you need to learn how to do it right to make sure you get the most money back out of the sale. Regardless of the vehicle you’ll be buying next, you can sell your car here. Whether you’re trading in your current vehicle or selling outright, here are a few tips to help you get top dollar.
Selling to a dealer is not a good idea.
Have you been thinking of selling your current car to a dealer? It seems like an excellent idea initially; however, facts suggest that selling your car to a dealer may not give you the best deal.
Buying and selling cars is a car dealer’s main business, so they’ll probably out-negotiate you and offer you a bad deal. You stand to get the most from your sale by selling it yourself. The most significant benefit of selling to a car dealer is you’ll avoid the hustle of paperwork and looking for a buyer.
Required Documentation
When selling your car, you’re going to need some paperwork. Here is a list of the necessary paperwork required when selling your car that will help make the process easier for both parties involved.
The title. The title is the most crucial document in a car sale. Besides showing you own the vehicle, your title will prove you have the right to sell your vehicle.
Bill of sale. Many states require you to complete a bill of sale and have it signed by you and the buyer.
Maintenance and repair records. When selling your car, it’s vital to have records on hand proving that your car has been receiving regular maintenance.
Establish an Asking Price
Before listing your vehicle or hitting up a trading-in with your local dealership, you’ll need to determine what it’s worth. You can use sites like Kelley Blue Book or Edmunds to give you an estimated value of your car.
Having established its worth, you now can set a price. Ensure the quoted price attracts buyers while also leaving enough room for negotiation.
Preparation for sale
It’s time to get busy and do the prep work so you can get the most out of your sale. Start by vacuuming the car’s interior and removing any clutter. Then wash the vehicle thoroughly. The more you can do to make your vehicle presentable, the better.
You can also purchase a vehicle history report. This document gives buyers helpful information, for instance, if it has been involved in an accident.
Advertise
Next, let prospective buyers know your vehicle is on sale. You have a few options for doing this. One option involves contacting dealerships which will likely require you to visit the dealership’s lot to show off your vehicle and let their salespeople check out the car’s condition. If you’re selling your car to a private party, posting an ad online is probably best. It’s a good idea, to be honest and thorough in the ad, including pictures and info like model and mileage.
Contact Prospective Buyers
Now that you’ve advertised your car, you’ll get the attention of car buyers. If you’re selling to a private party, you can start screening prospective buyers, setting up appointments for test drives, and negotiating the selling price. Follow up on all potential buyers quickly and efficiently to show them that you’re serious about selling your car.
Negotiate
Negotiating the price of your car is an exciting experience. And if you’ve never done this before, it might feel like an intimidating one as well. But, there’s a method to it that will make everything go smoothly. It would help if you had a baseline price that you should stick to. However, have room for negotiation, especially when offered a good deal.
Bring the deal to a close
To finalize the deal, you’ll first need to get your check from the buyer. The next step is to arrange a day to inspect the vehicle. A local dealership will either want to inspect the car at their location or where you’re holding your vehicle. I suggest doing this as soon as possible after signing your paperwork. Once the car has been sold, you can now turn over the title and fill out the bill of sale. Finally, call your auto insurance provider and tell them that you’ve sold your car.
All in all, selling your vehicle to a private party isn’t a complicated process if you walk through the proper steps. We hope you’ll take the time to follow the tips we have provided to help you get a fair price for your car and eliminate some of the guesswork that goes along with selling vehicles privately.
