Why sell instead of trading it in?
You will get more value for your vehicle when you sell it yourself than when a dealer accepts it as a trade. Why? The dealer’s job is to make money, not give you a fair deal on your trade-in. Did you know that banks won’t finance cars that are 4 years old or older? So if your vehicle is 4 years old or older, it is basically worthless to the dealer. You will not be getting much in trade for an old vehicle. You will be lucky to receive 25% of market value.
If the dealer does offer you full market value, you can be sure that they will be making up the loss by taking what they give you in trade and tacking it to the back end of your loan or tacking it on as dealer extras to your loan. So you just “think” that you are getting a good deal on your trade, but you may actually end up paying for your trade-in.
You have more control over what happens to your vehicle because you select what happens to your vehicle.
What comes to mind when you contemplate selling your used vehicle? Most people will probably say, that putting the vehicle out on the front lawn with a “for sale” sign on it comes to mind, or putting a classified ad in the local newspaper. These would be pretty typical responses to the question. Here are some great tips that really get responses from qualified buyers.
The Internet is becoming a part of everyday life and more and more people are searching the Internet looking on car sites for used vehicles. If you do not have your vehicle listed with a few of these sites, you are missing out on a lot of potential buyers. Where should you list your vehicle? I would suggest listing your vehicle on all the possible sites. Three popular used car classified sites are cars.com and carsdirect.com and carsoup.com
One word of caution though, when you are using ebay motors or other used vehicle classified sites online, be aware that there are scammers who will ask you to agree to escrow during the transaction. It would be wise to read up on scam reports concerning selling vehicles before listing yours.
The obvious, is to clean your car inside and out. Make any repairs that you can so that it is in good working order. Correct any cosmetic boo boos that you can, like scratches, dents, and rust spots. Use wax to buff up the finish of your vehicle. Repair any cracks in the windshield. Check all lights bulbs and fuses to be sure they are in good order, replace if necessary.
If you have a record of your maintenance that you have done, like oil changes, tire rotation, and any work that has been done on your vehicle that shows you have taken really good care of your vehicle will put buyers at ease. Repair invoices usually show mileage too, so you will have a history of your mileage and they can compare it to the current mileage on your odometer, so they know you have not rolled back your mileage.
Set up a budget for selling your car. An average budget is between $75 and $100. You will need money to pay for ads and other selling supplies, like yard signs and cleaning tools.
Beware of parking your car on your front lawn, or in a parking lot. You will be inviting your vehicle to be vandalized or you may even get a ticket or towed for parking illegally.
Believe me two of my neighbors were ticketed recently for this.
Consider putting up your own Web page advertising your vehicle. Make sure you put lots of pictures. Take pictures from all angles, interior and exterior pictures. If you have any imperfections like dents or dings, be sure to get a good picture so that buyers cannot accuse you of trying to hide anything; doing this will show that you are an honest seller and will put your buyers at ease.
Create up a flyer that details the facts about your vehicle; look in your vehicle manual for these details. Having this flyer will help answer a lot of the questions the potential buyers may have and will save you from having to repeat your answers over and over again.