Ready for a new vehicle and not interested in trading in your old one? Follow these steps to sell your car:
- Determine what the car is worth. Use Kelley Blue Book, NADA Guides, or Autotrader.com to establish the value of your car. If the value is lower than you thought you may want to consider trading it in.
- Gather your paperwork– this includes the title, maintenance records, warranty documents (document that the car is being sold as-is if there are no warranties), bill of sale, and release of liability.
- Clean the car and take pictures. Make sure the car looks good inside and out before you take the pictures. Exterior shots should include the front, rear, and both sides of the vehicle. For interior photos make sure you include front and back seats, the truck, dashboard, and floors. You should also include pictures of the wheels and the engine.
- Create an ad and post on sites such as Autotrader.com, Cars.com, and Craigslist to name a few. The ad should include details such as the make and model of car, asking price, mileage, condition of the vehicle, any damage or history of damage, and why you’re selling the car.
- When you start receiving inquiries from potential buyers always answer via email or phone and only set up meetings/test drives with serious buyers. Get the person’s full name and make sure you’re clear on forms of payment, – keeping in mind that checks and money orders are risky.
- Make the sale. When you meet with the buyer pitch the benefits of your car (such as fuel economy, affordability, performance, etc.) and negotiate the price. Go into negotiations knowing the lowest offer you would accept. Then ask for a price that’s a bit higher than you’d accept, as they will likely counter with a lesser amount.
- Finalize the sale by completing the bill of sale, signing over the title, and ensuring the funds clear your financial institution.
If you have any questions about selling your car we’re happy to help and if you’re in the market for a new car don’t forget to ask us about our budget-friendly loans! Happy selling!