Maybe you want a new car. Maybe you need some money. Whatever it is behind your decision, if you’ve made up your mind and decided it’s time you and your car go your separate ways, there are certain things you need to do first.
First, you need to put yourself in the position of the seller, prepare the necessary paperwork, clean your car, have it inspected etc.
You might opt for the easy way and sell your car through a dealership. But you might not be that happy with the price you’ll be offered. An independent buyer might be a more profitable option. But it might be harder to find an honest buyer that doesn’t want to drive a hard bargain and get the car as cheap as possible.
Selling your car might seem complicated, but taking the right steps can simplify the whole process. Here’s what you should do to make sure your car is ready and appealing to any buyer.
1) Do your research
In every aspect of life, being informed makes things a lot easier. If you want to sell your car, do a study market to be able to make an informed decision. Check the U.S. News listings of dealer inventory for the estimated values of vehicles similar to yours.
Just a minor heads up. Don’t expect to receive the highest amount on the market for your vehicle. Offers may vary, depending on mileage, condition of the car, region, time of the year etc. For example, it’s not a good time to sell a sports car or a convertible in winter months, as there is not such high demand. When it comes to SUVs and vans, the demand might be constant but the region where you sell it might make the difference. You might get a better price in the rural area than the urban area.
2) Gather all necessary paperwork
No one likes to deal with paperwork but if it’s necessary, then there’s no way around it. When it comes to transactions, you’ll need all the documents in order. If you go with selling your vehicle through a dealer, they will probably do most of the paperwork for you. On the other hand, if your buyer is an independent one, the task of assembling the paperwork will be left to you.
Depending on the region you live in or sell your car, the documents you’ll need to gather might vary. Generally, the most common documents include a bill of sale, an odometer certification, and the title of the vehicle. Buyers might also ask for a history report of the vehicle, so make sure you also have this prepared, just in case.
If you have unpaid debts, as the seller, you need to find out the exact amount to be paid off. After you manage to sell the vehicle, you can just use the received money to pay off your debt and then deposit the remaining amount. Retrieving the title by the bank might take a while, that’s why it’s important to inform the buyer about this aspect.
3) Have it inspected
It’s normal for buyers to want to take your vehicle for a ride before buying it, to make sure it is in good condition, as advertised. Therefore, before you put your car up for sale on the market, have it inspected either at a dealership or by an independent mechanic.
This way, you can discover and rectify problems you might have been unaware of that could otherwise force you to lower the selling price or even get stuck with the vehicle. Problems with the body, headlights or taillights, chipped windows and the like can be solved in reasonable time so that you can successfully sell your car for the right price.
Experts recommend doing a quick analysis of the added-value a repair might bring. If it doesn’t add much value to the price of your car, then it’s not worth investing it. After all, no one expects a second-hand car to be in perfect condition. “One of the biggest questions facing a used car buyer is the mechanical condition of the car they’re thinking of purchasing,” informs Philip Reed, automotive writer for NerdWallet. “Taking a car to a mechanic for an inspection is a hassle and an additional expense. So getting that step out of the way makes a car more appealing for buyers because it streamlines the process.”
4) Detail it
A vehicle’s worth can be increased if the car has been properly taken care of. Or, at least if the potential buyer thinks the owner took good care of the car before selling it. A good start to get a better deal is to clean it first.
“If you give your interior a good fresh, clean scent, this will also make the car feel like it’s clean and leave a good impression,” explains RJ de Vera of Irvine, California-based car care product company Meguiar.
In order to negotiate a better offer, it’s not only about vacuuming the inside of your car or throwing away all the trash. If you choose to detail your car, and give your seats and carpets a refresh, a $100 to $200 investment could bring you some nice extra money.
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5) Decide the selling method
The moment you make a decision to part ways with your vehicle, there are several ways to proceed with the selling. First of all, decide who you will sell your car to: a car dealership, an independent buyer or a third-party service.
If you opt for a dealer, the procedure is easier but you’ll most likely receive less money. Opting for an online sale to a private buyer might bring you more money but it might take a longer period of time and for sure, you’ll have to put in more effort. If you put your car for sale for a higher price and stick to it, you will probably find a buyer …eventually.
Sale experts recommend another method: the instant cash offer. It consists in providing your vehicle’s information and receiving estimates from interested buyers.
If you want to avoid car dealers or independent buyers, you can opt for online marketplaces by third-party services. One such marketplace is Shift.
6) Create your ad
Now that your car is all primmed and fully prepared for display, it’s time to create a catchy and compelling description that makes buyers fight for it. To make sure your car gets all the attention, make sure you start your ad with an interesting headline, then add clear and flattering photos. Think of details that might interest the buyers more, such as mileage, features etc. But don’t forget to be honest and present real information about your car. If you lie, you will lose credibility and you can kiss your chances of selling your car goodbye.
7) Clear out your personal information
When it came to older cars, clearing out personal information consisted in taking everything out of the glove compartment. Things have changed in recent years. Apart from physically taking out all documents from inside the car, the same thing needs to be done in the electronic world.
In other words, you’ll need to delete your personal information from the vehicle’s navigation system, cancel whatever subscriptions you may have going on. Think about satellite radio, OnStar telematics and whatever you think should not remain on the old car, once it changes owners.
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