Things You Should Know When Selling Your Car

Posted on : February 28, 2018

Selling your car can be a painless and rewarding experience, if you do your research and market your car the right way. Use this step-by-step guide to help you along the way.

Determine the Vehicle’s Worth

There are sources such as AutoTrader and Kelly Bluebook that will estimate your vehicle’s current value. Sometimes the decision to sell a car privately comes down to the amount of profit you will gain through the transaction.

(If you find out your car is not worth as much as you thought, you may want to consider trading your car in at the dealership)

Gather the Necessary Paperwork

Each state has it’s own requirements for paperwork when selling a car; in general, these are paper works you need.

  • The Title
  • Maintenance Records
  • Bill of Sale
  • Release of Liability
  • Warranty Documents
  • As is Documentation

Get the Car Ready

A clean car will be more will attractive to potential buyers. Before you photograph your vehicle make sure the exterior and interior look as good as possible.

Take Pictures

High-quality pictures, taken from multiple angles will make your car more appealing to customers. They don’t want to be surprised when they go to see what you are selling them. The main take away for this is the less you leave to the imagination the better. Here is a list you can follow to make sure all of your boxes are checked.

  • Exterior- Front, Rear, and Side
  • Interior- Seating, Carpet, and Trunk
  • Wheels and Engine

Screen Potential Buyers

Once you’ve put your ad out on Offer up or Craigslist, you will probably be getting inquiries. This is where you’ll need to be answering e-mails and telephone calls. Giving Serious inquiries a chance to test drive your car is a great way to let the potential buyer really get a feel for the car.

Give Your Sales Pitch

If a buyer makes the effort to come over and look at the car, use the opportunity to make a sales pitch. The best time to inform the buyer of why your vehicle would be a better purchase than others on the market is during the test drive.

Negotiate the Sale Price

When you negotiate, it’s a good idea to have a starting price that’s higher than what you’re willing to accept. Also, have a dollar amount in mind that’s your lowest acceptable price and stick to it.

Finalize the Sale

Once a sale has been agreed upon, you’ll need to finalize all the paperwork. If you accept a cashier’s check, go with the buyer to his or her bank to get your money. When payment has been completed, you’ll need to:

  • Complete the bill of sale.
  • Sign the title over.
  • Fill out the Release of Liability.
  • Provide warranty documents, if applicable.
  • Provide copies of maintenance records.
  • Include any additional transfer paperwork your state may require.
  • Hand over the keys!

Don’t forget to remove your vehicle from your insurance policy!

 

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