Buying a new car – totally fun! But are you really going to ditch your old car just like that? Why not make money out of it? Get more cash out of your used car in these 6 ways.
Spiff Your Ride
?
Showcase your car to make it more attractive to prospective buyers. Selling a car is like staging a home for a real estate market. Home owners would usually clear countertops, rearrange furniture, or clean their closet in showcasing the home. This runs similar in staging your car. Fix the car, clean the floor mat, stains, and engine. You can go to a car wash and have your car polished to give it a fresh look.
Evaluate the Car’s Condition
?
It only makes sense to check your car for possible fixes. Think about the cosmetic changes it needs such as paint, fixing dents, and windshield cracks. You can do mechanical tune-ups by having a certified mechanic inspect the car for important fixes. It is worth replacing an old brake system to attract buyers. Other minor damages will also need repair which can be less costly such as the “painless dent repair” service. In case you do these significant repairs, keep the records and show the potential buyer that parts of the car are running like brand new.
Tag Your Car’s Correct Price
?
People don’t really want an overpriced car that’s been used. Tagging the correct price of your car not only gives the impression of trustworthiness but also makes the sale realistic about the condition of the car. Websites such as the Kelly Blue Book will help car sellers determine the right price for their vehicle with tools to calculate the market value of the car. Use these great sources so that you can have more confidence in your trade-in or sale value. Take note of the car’s mileage, interior condition, options, and other exterior damage when using these tools though.
Choose between Trading or Selling
?
It is somehow common knowledge that selling a used car to a buyer rather than a dealer will yield more. This is because dealers have to spend money to refurbish the car to make profit. However, it is still important to consider what is best for your situation. Research the pros and cons of private sale versus trade in. This will help you weigh the options. Generally, you can choose if you want a dealer trade in, dealer consignment, direct sale to a dealer, and direct sale to an individual buyer. Dealer trade-in provides the most convenience since you can dispose the car in a day. Leave the old car and drive a new one. When you do, you can pay the sales tax on the new car with the trade in amount which can save you a few hundreds. Another option is to sell the car to a dealer without buying a new one. This can be easy as you can separate the proceeds of your old car’s sale and put the money on a new car. Or, dealer consignment can also do the trick. Choose a dealership that will handle the sale of your vehicle. Make sure to separate the commission fee from your car’s correct price. While selling your car to an individual buyer may give the highest financial yield, it can be time-consuming and takes a lot of effort. Some typical advertising ways is to put up a “for sale” sign in the car’s window, pay for advertisement in the local classifieds, or use eBay and other websites. The Internet provides a less expensive way to advertise your vehicle. But however you want to sell your vehicle, take time to prepare for negotiations with well-informed buyers. Be prepared to negotiate with buyers who have done their research. And keep safety in mind: Meet strangers in a public place, and never give out your home address or other personal information.
Organize the Papers
?
Be ready for inspection. Your car will surely be examined by the dealer or the potential buyer. Make sure the papers are in order as this might just seal the deal. If the dealer or buyer sees the records of the car, this might increase the buying chances. Keep receipts, repairs and maintenance work neatly in a folder.
Be a Step Ahead
?
Being smart on the actual transaction will help you sell the car with confidence. Prepare the sale contract and other legal documents. Also include phrases like “car sold as-is” or “warranties not expressed or implied” in the car description. Failure to disclose the real condition of the car may lead to a dissatisfied buyer and money back demand. As cars are regarded with commercial importance, make sure to execute the proper legal transactions surrounding the sale.
You can also get creative once your sell your car, just like this eBay seller on this video.