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How to sell your used car in 8 steps Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by offering you interactive financial calculators and tools, publishing original and objective content. We also allow users to conduct research and compare information for free - so that you can make sound financial decisions. Bankrate has partnerships with issuers such as, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this site are from companies that compensate us. This compensation may impact how and where products appear on this website, for example such things as the order in which they be displayed within the listing categories and other categories, unless prohibited by law. Our mortgage or home equity products, as well as other products for home loans. This compensation, however, does affect the information we publish, or the reviews you read on this site. We do not cover the universe of companies or financial offers that may be available to you.



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5 minutes read. Published on February 27, 2023.
Written by Allison Martin Written by

Allison Martin's career began more than 10 years ago as a digital content strategist, and she's since been published in several leading financial outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are dedicated to helping their readers gain the confidence to control their finances by providing concise, well-studied and well-researched content that breaks down complicated topics into manageable bites.









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The demand for second-hand cars is very high because of a . Although the shortage is decreasing and may even close this year, many auto producers continue to produce less cars than they typically do. This means that dealers have smaller amounts of inventory. However, it's a good thing, if you happen to be selling a used car, as you're still likely to have plenty of potential buyers. Before you place an ad online you must follow a few basic steps you should follow to ensure you get the most money for your car. 8 steps to sell your used car When selling something as valuable as a car, you'll want to get the best price possible. Clean your vehicle prior to listing it for sale. Also, you should take time to determine the best price for sale and learn how to negotiate efficiently. 1. Choose which way you'd like to market your vehicle.. There are three options to sell your vehicle: Sell it to a third party: only is it possible to purchase a car from a dealer . It's convenient because you don't need to promote the car to prospective buyers. The downside is you probably will not receive as much from your vehicle like you'd from an auction. Private sale: You'll typically be able to get more in the event that you decide to sell it yourself. However, you will have to research to find the right buyer and negotiate a fair selling price. Dealership: Many dealerships offer a no-cost and no-obligation cash deal for your vehicle. It's fast and simple, and you'll have a set period to decide whether you want to redeem the offer. Car buying websites like Shift and AutoNation guarantee to make an offer on your car in just a few minutes. You'll have to provide the necessary information regarding the car's colour, model, make and mileage. It is also necessary to upload images. These companies provide cash quickly for your car, however they usually charge service fees which can eat into your earnings. 2. Gather the necessary documents You aren't able to sell your vehicle to a private or dealer party unless you have the following documents The original paperwork from the purchase of your vehicle. The title of the vehicle. Any service records available. If you're not able to find one of these documents, make sure you have them available in order to sell your vehicle. If you don't, you'll encounter issues when trying to close the deal. It's also a good idea to have emissions test documentation at hand if you are in a place where these tests are required. Additionally, if warranties still are in effect for your vehicle, keeping this paperwork available is essential. You may even fetch more money for a car that is still protected by warranty. 3. Prepare your car for sale After you've determined how to market your vehicle and collected the required documents, you're now ready to get it ready for market. In the ideal scenario, you'll want to clean up the exterior and interior of the car to make it shine for potential buyers. Have your car professionally cleaned or spend some time vacuuming and shampooing your carpets, washing the mirrors and exteriors, applying wax as needed and making the tires shine. Also, take your vehicle to the shop for an oil change. If your brakes or tires are getting close to the end of their useful life It's the right time to have them replaced. It is recommended that the mechanic replace any burnt-out light bulbs and windshield wipers that do not work correctly. Also, plan to repair cracked windshields, scratches or dents. Bankrate tip
The process of cleaning your car and making key cosmetic fixes is similar to staging your home to sell. The way your car looks is important and can help you get more money. Most people do not want to buy a car peppered with scrapes or dents, or with a dirty interior.


4. Choose the appropriate price for the sale If you are planning to sell your car to a private event , . A price that is too high could make potential buyers turn away, and selling at a price that is too low can mean you'll get less than you're entitled to. You must conduct your own research to ensure you price the car right and leave a bit of flexibility for negotiations. There are a variety of tools to calculate . Make use of to use the " " feature in Kelley Blue Book or refer to Edmunds to find out what the value of your car. Or you can use Autotrader or look up classified ads to find similar listings in your neighborhood. 5. Get the word out Tell everyone on your list that you're selling your car and ask to share the news. You can also make a post on social media, or post ads on sites with a used car marketplace -- such as Autotrader, Kelley Blue Book or Cars.com -- or in local newspapers. When you create your ad include photos that showcase multiple angles of the car's exterior, interior and how it looks like under the under the hood. The ad should also state the year, make and model of the car as well as its current condition along with the asking price and acceptable forms of payment. Include features that make it stick out, such as an extended warranty, a high fuel efficiency rating or heated seats and why you want to sell your car. 6. Prepare to negotiate. To be prepared for negotiation, regardless of whether selling privately or through a dealership, take your car to several dealers and get offers. Use this information and what you've learned by in your research of the value of your car's on websites such as Kelley Blue Book or Edmunds to help you negotiate with potential buyers. You'll want to come to an agreement with cheapest price that you can accept with a clear mind, and be ready to counteroffer. Begin the conversation by letting the buyer give you the number. If it's a good number for you, it's your responsibility to decide if you want to ask for more or move ahead with the purchase. But if the number is too low, try to counter with a amount that is greater than the price you're willing to accept. Be prepared to walk away if you cannot come to a fair agreement with the other side. 7. Make sure you are safe and knowledgeable regarding the sale. It is essential to be safe importance when you arrange an auction for your vehicle through a private gathering. The seller may want to pay in cash. S suggest they use an online payment processor that is not contactless, like PayPal, instead. Cashier's checks are another option. The check is guaranteed to be cleared since the money is immediately withdrawn out of the purchaser's bank account when the check is issued. If a potential buyer wishes to test drive the car before committing to purchase the car, make contact with your insurance company to make sure you'll be covered in the event in the event of an accident. Make sure you choose a safe location and agree to the route before it starts. You might also wish to have someone else accompany you for extra safety. 8. Get the deal signed off at final, you've found the perfect buyer and are now eager to close the deal. However, before you can officially close the deal, you have to go to the DMV in your area (Department of Motor Vehicles) together with the buyer to transfer the vehicle's title over to the next owner. Keep in mind that this procedure is different in each state. Some states might require evidence of an inspection that has been passed or that you contact the tax assessor's office in the county you reside in. You can check out the regulations for your respective state at . Next steps Whether you're looking to earn more cash or trade your car to buy a new one, these guidelines can help you earn top dollar for your ride. But, a private sale is the most likely method to make the most of your profits. Make sure you get several valuations prior to selling your vehicle to make sure it is priced right and that it sells quickly.


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Written by

Allison Martin's career started over 10 years ago as a digital media strategist, and she's since been featured in numerous prestigious financial publications such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.



Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are committed to helping readers gain confidence to manage their finances through providing concise, well-studied information that breaks down complicated topics into digestible chunks.






Auto loans editor




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