Tips for Selling Your Car

By Diane Tait

Image courtesy Geograph

If you own a car, you realize there comes a time when you either want to either sell it or trade it in.  As long as your car is still roadworthy, there’s no reason to trade it, since you’ll undoubtedly get more by selling it yourself.  That being said, some people are a little unsure as to how to go about getting their car ready for resale.  If that’s what’s bothering you, this week’s blog will show you what it takes to prep, price and sell your car privately.

Nobody wants to buy a dirty car

If you’ve eve been to a used car lot, you’ll notice how shiny their inventory is.  Whether you’re looking at last year’s model or a ten-year-old clunker, every car on the lot is clean enough to eat off.  While the same doesn’t always go for the moving parts under the hood or beneath the chassis, the one thing all used car dealers know is that nobody wants to buy a dirty car.

Unless you just pulled your car out of the St. John’s River, detailing a car isn’t all that difficult.  The first thing you need to do is clean your vehicle thoroughly inside and out.  This includes the exterior, the passenger compartment, the trunk and under the hood.  While you clean, note any dings, chips or scratches in the paint on the outside of the vehicle and any stains, rips or scuffs in the interior.  Believe it or not, there are products available in any auto parts store that are designed to remove stains, fill chips and cover up scratches.  The important thing is not to necessarily make your car shine like new, but to do everything you can to re mediate wear and tear.

If there are dings, dents, or tears, you should look at what it would cost to repair them.  A couple of years ago, I owned a 2015 Sonata that had minor damage from hail.  For $100, I was able to get the dings ironed out of the hood without affecting the paint.  As a result, the resale value of the car was $500 higher than it would have been had I not taken the time to correct this blemish.

How do you price your vehicle?

Image courtesy USAF

The beauty of the Internet is that you can find out just about anything if you know where to look.  The bad news is you have to know where to look.  When it comes to finding the fair market value for your used vehicle, there are a number of websites that try to trick you into signing up or revealing your name and address before they’ll process the data on your car.  That’s why I always sue Edmunds https://www.edmunds.com  This website will ask you all the particulars on your vehicle, without asking you to divulge any information about you.  What’s even better is they’ll also give you a range of prices that cover everything from the trade-in value to the recommended private sale price and the dealer price.

For instance, after running the particulars of my 2015 Sonata, Edmunds pegged the trade-in value as $11,616, the private sale price as $13,414 and the dealer price of $15,079.  How do I know if these prices are accurate?  Simple, all I had to do was search other websites such as craigslist, Auto Trader and Car Daddy to see comparable vehicle prices.  I don’t know about you, but even if I only sold my Sonata for $1,000 over the trade-in value, that’s a grand that I’d rather have rolling around in my pocket than in the dealers.  That’s why I never, ever  trade my cars in.

Where to sell you car?

While there are numerous websites that will let you post your car for sale, the one that I’ve always used is craigslist.  It’s user-friendly and priced right at $5 per vehicle listed.  It lets you include the full particulars and write the copy any way you see fit.  Plus, it lets you drag and drop up to 4 photos of your vehicle for no extra charge. 

The trick to generating responses is to price the vehicle right and make the copy compelling.  If your car has only ever been driven by you, mention it in the ad.  If it’s always kept in a garage and has been meticulously maintained, mention it in the ad.  Do you ever allow someone to smoke in your car?  If not, mention it in the ad.  These items are as important as the condition and mileage. 

      1.      If you don’t want dealers calling you, don’t click the box at the bottom of the ad that reads, “OK for others to contact you about other services, products or commercial interests.”

      2.      If you want legitimate responses instead of cranks, provide your local phone number.

      3.      If you don’t want to be spammed, enter your email address, then click on the box that reads, “CL mail relay

      4.      Instead of having interested parties meet you at your home, do what I do and have them meet you in the busy parking lot of a nearby strip mall.  This way they won’t know where you live, and you will feel more secure in dealing with strangers.  I only provide a general location for craigslist that excludes my home address. While many buyers only want to travel 5-10 miles to look at a car, there’s no reason to give them more than a major crossroad.

      5.      Always say thanks but no thanks to anyone who asks if you are willing to ship a car or anyone who wants to pay you via check, money order or bitcoin.  When it comes to selling a car, cash is king.  The last time I sold a car locally, I went with the buyer to their bank and walked out with an envelope containing $8,500.00.  If your car is worth substantially more than that, you can also have the bank do a wire transfer from the buyer’s account to yours.  The trick is to make sure you get paid before you hand over the keys and sign over the title.

How do I sell my car?

Image courtesy Pixabay

Once you’ve spoken to an interested buyer and they have agreed to meet you at a public place in broad daylight, feel free to give them a tour of the car followed by a test drive.  Never, ever let a buyer drive the car without you being in the passenger seat.  If the buyer comes with a family of six, some of them will have to wait in their car.  If you let anyone drive off in your car without you inside it, don’t be surprised if they don’t return.  Don’t let them talk you into holding onto the keys to their car while they test drive yours.  Their car could be stolen, or they could do irreparable damage to your vehicle.

Once you return from the test drive, now comes the haggling.  Since you own the vehicle, it’s up to you how low you’re willing to go.  If your price is fair and the wear and tear on your vehicle is minimal, don’t necessarily jump at the first offer, unless it’s at or extremely close to your asking price.  On the other hand, if your vehicle has a few noticeable blemishes or any mechanical problems, it may behoove you to make the buyer a counteroffer that you can live with.  Otherwise, simply tell them, thanks for stopping buy before climbing back in your car.  You’d be surprised at how often a buyer will knock on your window as you prepare to leave only to either agree to your asking price or make an even higher counteroffer.  Either way, as long as you make a sale that is at least $500 higher than the comparable trade-in, you’re ahead of the game.

Last but not least, make sure you remove your license plate along with your insurance card before you let the buyer drive away with your vehicle.  You may then either turn the plate into the DMV or have it transferred to the car you buy with the money from the sale of your car.  If you leave the plate on the vehicle and it’s involved in an accident, you could be held liable.

Diane Tait owns and operates A&B Insurance.  To find out more about how you can save money on auto insurance, go to her site or fill out the form at right.