How to Sell a Vehicle
Selling a car yourself is a bit more of a hassle than trading it in, but it can be financially rewarding. When you trade in your car, the dealer has plans to retail it and make a profit. This doesn't make dealers bad people; it just makes business sense. Selling your vehicle privately allows you to retail it at a higher price, putting the extra money in your pocket instead of the dealer's.
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Instructions
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Have your vehicle serviced by a certified mechanic. Top off all fluids and repair any problems it has.
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Bring your vehicle to an automotive detail shop for a thorough cleaning. Have the upholstery and the carpet spot-cleaned if the vehicle has stains or spots. Make sure the exterior is washed and waxed.
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Gather all service and maintenance records you have acquired during your ownership of the vehicle. If you don't have copies, visit the dealership or shop that normally services your vehicle. Most of them keep records on file and will be glad to give you copies.
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Determine the asking price for your vehicle. Use resources such as Kelley Blue Book and NADA to determine the approximate value (see Resources). It's usually best to ask the top value (full retail value). It's much easier to come down on the price than to go up. Starting off high will increase your chances of receiving top dollar.
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Advertise and promote your vehicle. There are several methods of doing this. Feel free to use as many as you like. The more places your vehicle is listed, the better the chances are of it getting noticed. The most popular resources are local newspapers and online listing services such as Autotrader.com and Cars.com (see Resources).
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Interact with potential buyers when you are contacted. Offer a test drive and show off your maintenance records. Try to be friendly and respectful; doing so will help them trust you and feel confident about the purchase. If a potential buyer is dissatisfied with the price, ask him what he would be willing to pay. If his offer is reasonable, try to meet him somewhere in the middle.
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Obtain the proper forms for selling your vehicle. The exact forms will vary from state to state, but generally you will need a bill-of-sale and the title. You may also need to seek the services of a notary. Contact your local motor vehicles department to obtain the proper forms needed in your state.
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Complete the transaction. Do not accept personal checks as payment. Cash or a certified check from the buyer's bank works best.
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Tips & Warnings
To save on advertising costs, print up a flyer on your home computer. Print out several copies of the flier and display them in public locations.
Be careful if dealing with a buyer out-of-state or over the Internet. Never make shipping arrangements until the payment clears.
References
Resources
- Photo Credit Prokopenya Viktor/commons.wikimedia.org
