Have you decided that it’s
time to part ways with your beloved (or not so beloved) used car?
Perhaps you are ready to get into something
better or maybe you’re moving and you just can’t take it with you. Whatever
your reason, there are a few things you’ll want to know as you’re getting ready
to sell your car.
Value and Specifics
The first thing that you’ll want to know about
your car is its value. To you, it might be worth a great deal, but finding
someone to pay that “great deal” might not be so easy. Various websites publish
objective, industry-standard values for used cars. Pricing your car
appropriately will help ensure you get fair value while avoiding excessive
haggling. The condition of and specifics about your vehicle will guide you to
get its value and you’ll need to gather some information before you start.
With regard to your car’s condition, consider
the following:
·
Does it have dents and scrapes?
·
Is the inside worn?
·
Are the tires and brakes in good condition?
·
Has it been in an accident?
·
Is there any rust?
This is not a comprehensive list, by any
means, but it should give you a good idea of the types of items you’ll want to
look at. Next, let’s get into some of your car’s specifics. Simply knowing make
and model is not enough.
·
What is the trim? (Mazda CX-3, CX-5, CX-9)
·
Does it have a sunroof or touch screen infotainment system?
·
Did you make after-factory modifications?
Again, this isn’t a comprehensive list, just a
good start.
Now that you have all the needed information
about your car do some research online and gather objective data about its
value. Different sites provide different values, so using the median is a
good solution.
Trade-In versus
Private Sale
There are a number of factors to consider when
deciding whether to trade your car in to a dealer or sell it to a private
party:
·
Ownership – Do you own your car outright? If you don’t, what do
you owe? Are you leasing?
·
Taxation – Selling to a private buyer might mean having to
raise the price to wrap the tax into it (check sales tax in your local area for
more info), while selling to a dealership might take care of the tax.
·
Time – Selling to a private party will invariably take more
time. You’ll have to spruce up your ride, get some nice pictures, find places
to post the car, and then go through the process of meeting buyers, having them
obsess over the condition of it, etc. Trading in your car typically means much
less hassle. But …
·
Price – Private sales often offer more flexibility for the
seller.
If you have a car that has good value (a model
that’s in demand, low mileage, good condition, etc.) and you have the time and
patience to handle buyers, selling to a private party might be the way to go.
If you have a car of lesser value and don’t want the hassle, you may want to
just trade it in to a dealer and be done with it.
Consider Increasing
the Value of the Car
If you’re going with a private buyer, you may
want to spend a bit of time and money to clean up some scrapes or dings on the
exterior, and get an interior/exterior detail so that the car looks its best.
Gather the
Paperwork
Again, if you’re choosing to sell to a private
party, you’ll want to make sure that you have all the necessary paperwork. This
includes warranty information, bill of sale, an “as is” statement, and a
release of liability form (check with your nearest DMV or you can also contact
AAA if you’re a member). Also, you might consider making available all of your
maintenance records.
If you want to forego the trek from dealership to dealership
trying to find the best price, or haggling with private sellers, try the What’s My Car Worth app. It’s available on both iPhone and Android
devices. After completing a short questionnaire, What’s My Car Worth lets area dealers bid on your car,
providing you with the highest offer and making it exceptionally easy to sell
your car!
Search Your Car. Take me to Pen Air Car Buying Service, powered by Truecar.
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