A step-by-step guide on how to prepare, appraise, advertise, and successfully sell your car privately to get the best return.
If you are looking to get the most value out of your car, you may have noticed that you can earn more by selling it yourself. While this involves more effort than trading it in at a dealership, you will be rewarded with extra cash in your pocket. Here are a few suggestions for selling your old set of wheels:
- Preparation: Most of the work involved in selling a car happens before a buyer ever looks at your vehicle. It should be thoroughly washed, waxed, and cleaned, with all personal items removed. Keep your maintenance records throughout your ownership so you can demonstrate how well you have cared for the vehicle. The more records you have, the better. Buyers want to see regular oil changes and other basic maintenance. Receipts and service invoices prove that you have been a responsible owner. Keep these in a hanging file or similar folder to stay neat and organized.
Calculate the actual fuel economy your car gets, as this can be useful information for prospective buyers.
Many buyers will want to run a vehicle history report, such as a CARFAX report, before considering a purchase. This requires the Vehicle Identification Number (VIN), and a buyer may ask you for it before viewing the vehicle. Learn more about vehicle history reports online.
- Appraisal: Decide on an asking price by checking your car's market value using used car appraisal guides such as Edmunds, NADAguides, or Kelley Blue Book.
- Advertising: Decide how you want to market your car. You can place a classified ad in your local newspaper or use dedicated automotive websites such as AutoTrader and Cars.com. eBay Motors is also an excellent marketplace for selling vehicles.
- Making the sale: Once you attract a potential buyer, be on your best behavior. Park the car neatly in front of your house and expect the buyer to examine it briefly before knocking on your door. Make yourself available to answer questions, but avoid interrupting, which can seem pushy. If the buyer has a valid license, offer them the keys for a test drive.
If your car has minor issues, don't be afraid to mention them. Honesty goes a long way and builds trust. Never attempt to misrepresent the vehicle's condition.
Some buyers may ask for a warranty, but most private-party sales do not include one. Do not make guarantees about the car's reliability unless you are willing to pay for future repairs.
- Sold! Once you have negotiated an agreeable price, accept payment. It is usually best to insist on cash or a guaranteed payment method, such as a cashier's check.
- Get the paperwork right: Requirements vary by region, so check with your local Department of Motor Vehicles (DMV) to determine the exact documents needed for a private sale. Generally, this includes a state-issued bill of sale and a title transfer.
Remember to remove your license plates before the new owner drives away. Plates are typically non-transferable, and obtaining new ones is the buyer's responsibility. Check your state's DMV guidelines to confirm.
Finally, contact your insurance provider to remove the vehicle from your policy. If you purchased a replacement vehicle, you can add it to your policy at the same time.
How to Sell Your Car
A step-by-step guide on how to prepare, appraise, advertise, and successfully sell your car privately to get the best return.
If you are looking to get the most value out of your car, you may have noticed that you can earn more by selling it yourself. While this involves more effort than trading it in at a dealership, you will be rewarded with extra cash in your pocket. Here are a few suggestions for selling your old set of wheels:
- Preparation: Most of the work involved in selling a car happens before a buyer ever looks at your vehicle. It should be thoroughly washed, waxed, and cleaned, with all personal items removed. Keep your maintenance records throughout your ownership so you can demonstrate how well you have cared for the vehicle. The more records you have, the better. Buyers want to see regular oil changes and other basic maintenance. Receipts and service invoices prove that you have been a responsible owner. Keep these in a hanging file or similar folder to stay neat and organized.
Calculate the actual fuel economy your car gets, as this can be useful information for prospective buyers.
Many buyers will want to run a vehicle history report, such as a CARFAX report, before considering a purchase. This requires the Vehicle Identification Number (VIN), and a buyer may ask you for it before viewing the vehicle. Learn more about vehicle history reports online.
- Appraisal: Decide on an asking price by checking your car's market value using used car appraisal guides such as Edmunds, NADAguides, or Kelley Blue Book.
- Advertising: Decide how you want to market your car. You can place a classified ad in your local newspaper or use dedicated automotive websites such as AutoTrader and Cars.com. eBay Motors is also an excellent marketplace for selling vehicles.
- Making the sale: Once you attract a potential buyer, be on your best behavior. Park the car neatly in front of your house and expect the buyer to examine it briefly before knocking on your door. Make yourself available to answer questions, but avoid interrupting, which can seem pushy. If the buyer has a valid license, offer them the keys for a test drive.
If your car has minor issues, don't be afraid to mention them. Honesty goes a long way and builds trust. Never attempt to misrepresent the vehicle's condition.
Some buyers may ask for a warranty, but most private-party sales do not include one. Do not make guarantees about the car's reliability unless you are willing to pay for future repairs.
- Sold! Once you have negotiated an agreeable price, accept payment. It is usually best to insist on cash or a guaranteed payment method, such as a cashier's check.
- Get the paperwork right: Requirements vary by region, so check with your local Department of Motor Vehicles (DMV) to determine the exact documents needed for a private sale. Generally, this includes a state-issued bill of sale and a title transfer.
Remember to remove your license plates before the new owner drives away. Plates are typically non-transferable, and obtaining new ones is the buyer's responsibility. Check your state's DMV guidelines to confirm.
Finally, contact your insurance provider to remove the vehicle from your policy. If you purchased a replacement vehicle, you can add it to your policy at the same time.
How to Sell Your Car
By Howtodotips
A step-by-step guide on how to prepare, appraise, advertise, and successfully sell your car privately to get the best return.