A Fast And Furious Guide To Selling Your Car
The first instinct of most people who plan to change their old car is to go ahead and exchange it with a brand new model. This would then involve the dealer reviewing the car from top to bottom, taking it on a test spin, and checking the car’s Fair Market Value to get a reasonable price estimate. From that, they will give you a price that will be subtracted from the total cost of your new vehicle. But if you just need to unload an extra car in the driveway and plan to sell it privately, there are a few things that you will need to do before you pass the old jalopy onto its next owner.
Clean and Prep the Car
Before the first buyer walks up your driveway, it’s time to grab the portable vacuum, a bottle of spray cleaner, and a roll of paper towels. Take your time to go through the car to clean the windows, the dashboard, a drink holder and any other solid area. You can also open the windows after cleaning them to air out the car. You may not notice it anymore, but when cars loose that new car scent, they take on other odors.
To make sure there is no unwanted trash underneath the seats, or maybe some small trinket or even some coins, move the seats back and forth when you’re taking care of the inside. Examine the trunk afterwards. You might find some tools or other equipment in secret compartments. You never know what gets lost there over the years.
Wash your car completely, starting by hosing it down with water. A good shine can make an old car look like a classic. Many people overlook their car’s headlights and hubcaps while cleaning the car, so don’t make the same mistake. Hubcaps are like a magnet to grime. You don’t need any special equipment – just liquid soap and a soft brush. Also pay attention to the headlights. This is especially important when you’re discussing business with a buyer in the night time – he or she would want to see if the lights work.
Judge Your Car’s Value
Depending on your self-esteem and how you regard your car, it can either be worth a fortune or worth rubbish. But there are listings that will provide you with the actual fair market value of the make and model of your car. You can go online and do a search for ‘car value’, or ‘what’s my car worth.’
Again, this is a very simple process because you just need to know the car’s make, the model, as well as the year released or made. If it’s a special edition or has extra letters after the name, usually found in an emblem on the back of the car, you will need to know this too. Aside from “R/T” (road and track), there are others to be wary of, like the Judge (Pontiac GTO) or “SE” (multiple makes). Print out all the information once you have gathered all the data. When discussing the price of your car to be sold, you’ll need some form of tangible documentation.
Advertise Your Car
There are a number of places that you can advertise a car for sale. If you still have a local newspaper in your area, you can start there. Although rates have increased as newspapers are struggling financially, it can still be a good deal because you will attract more people from your general area.
Other places to consider are church bulletin boards, newsletters, or other associations to which you belong. They may charge a small fee to list the car on their website or newsletter but it will be much cheaper than a newspaper. You can also have your family, friends, and colleagues spread the word. In any case, be 100% honest and transparent when discussing the car’s quality. An unmentioned flaw could come back to haunt you and your relationships for years to come. There are also popular national sites and social networks that can help you spread the word.
Closing The Deal
Now that you have a buyer, you will need to negotiate the price. You can set an asking price slightly higher than what you expect to receive. Be upfront about the payment options. Unless the buyer is a good friend of yours or a family member, cash is king. If that’s not possible, another option is a money order. Don’t prioritize personal checks, due to their potential of bouncing. You will also need to transfer the title of the car. Check with your local auto tags office for details. They will have the papers and can file it with the state department of motor vehicles for a fee. Oh, we forgot – declare the car’s sale in your upcoming tax returns this coming April!
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