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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 tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. Bankrate has agreements with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that are advertised on this site come 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 listed within the categories of listing, except where prohibited by law for our mortgage or home equity products, as well as other products for home loans. But this compensation does affect the content we publish or the reviews you see on this site. We do not contain the universe of companies or financial offerings that could be available to you.



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5 min read published February 27, 2023
Written by Allison Martin Written by

Allison Martin's work started over 10 years ago as a digital content strategist. Since then, she's been published in several leading financial outlets 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 from late 2021. They are passionate about helping readers to control their finances with concise, well-studied and well-researched content that breaks down complicated subjects into digestible chunks.









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The demand for used vehicles is high due to a . Although the shortage is decreasing and could even close this year, many auto producers continue to produce less vehicles than they normally do. So, dealers are still facing less inventory. It's good news, however, if you happen to be selling a used car, as you're still likely to have plenty of potential buyers. However, before you put up an ad on the internet there are a few steps to take to make sure you receive the highest price for your ride. 8 steps to sell your old car an asset that is as significant as a car you'll want to get the highest price you can. Clean your vehicle prior to listing it for sale, take time to determine the best price for sale and learn how to bargain efficiently. 1. Choose which way you'd like to market your vehicle. There are three ways to sell your vehicle: Trade it in will work if you're planning to purchase a vehicle from a dealership . It's convenient because you won't have to market the vehicle to potential buyers. However, you won't get as much for it as you would with an auction. A private sale will usually get more for your ride if you sell it yourself. But, you'll need to research to find the ideal buyer and negotiate a fair price for the sale. Dealership: Many dealerships will offer you a no-cost unconditional cash offer for your car. It's quick and easy, and you'll have the time to consider whether you want to redeem the offer. Car buying websites like Shift and AutoNation will make an offer on your vehicle in a matter of minutes. You'll need to provide certain details about the vehicle's make, model, color and mileage. You'll also need to upload images. These companies provide cash quickly for the vehicle you own, but they usually charge service fees that eat into your profits. 2. Take the required documents aren't able to sell your vehicle to a dealer or private party unless you've got these documents in your possession The original paperwork from the sale of the vehicle. The title to the vehicle. Any service records available. If you're not able to find any of these documents, make sure you have them on hand in order to sell your vehicle. Otherwise, you could encounter issues when trying to finalize the transaction. It's also a good idea to have emissions test documentation at hand if you are in a state where these tests are mandatory. If warranties still are in effect for vehicles, having the paperwork available is essential. You may even fetch more for a vehicle that is protected by warranty. 3. Make sure your car is ready for sale After you've determined how you'll sell your car and collected the required paperwork, it's time to get it ready for the market. In the ideal scenario, you'll want to improve the appearance of the interior and exterior of the car to make it shine for prospective buyers. Have your car professionally cleaned or spend time vacuuming and shampooing carpets, washing the mirrors as well as washing the exterior. applying wax as needed and making your tires shine. Also, take your vehicle to the mechanic for an oil replacement. If your brakes or tires are getting close to the final stage of their service It's the right time to get them replaced. It is recommended that the mechanic swap out any burned-out lights and windshield wipers that do not perform as they should. Plan to fix damaged windshields, scratches or dents. Bankrate tip
Detailing your used car and making key cosmetic fixes is like staging a home to sell. The appearance of your car is crucial and can result in a better price. Few people want to purchase cars that are splattered with scratches or dents or an unclean interior.


4. Set the right sales price If you plan to sell your used car to a private party , . An amount that is too high can cause buyers to be turned off, and selling at a price that is too low could result in you receiving less than you're entitled to. Therefore, it is important to do your research to ensure you price the car right with a bit of some room for negotiation. There are a variety of tools to determine . Make use of your " " feature from Kelley Blue Book or refer to Edmunds to determine the value of your car. Or you can use Autotrader or look up classified ads to find similar ads in your neighborhood. 5. Spread the word to everyone in your network that you are selling your vehicle and ask to share the news. You can also share your news on social media, or post ads on websites that have an auction for used carsfor example, Autotrader, Kelley Blue Book or Cars.com or in the local newspaper. When you create your ad make sure to include images that show multiple angles of the car's exterior, interior, and what it appears like underneath the under the hood. The ad should also state the year, year of manufacture and model of the car and its condition at the time of writing as well as the price it is asking for and acceptable forms of payment. Additionally, you should include any features that make it stick out, such as an extended warranty, fuel-efficiency rating, heated seats, and why you want to sell your car. 6. Prepare to negotiate. To make sure you are prepared to negotiate, no matter if selling privately or through a dealership bring your vehicle to a few dealers and obtain offers. Utilize this information along with what you've found when looking up the value of your car on sites like Kelley Blue Book or Edmunds to inform your negotiations with prospective buyers. It is important to arrive at your table with most affordable price that you can accept in the back of your mind, and then be ready to counteroffer. Begin by letting the potential buyer give you the number. If the number is acceptable for you, it's your responsibility to decide whether to seek out more or move forward with the deal. But if the number is too low, counter with a slightly higher amount that is greater than the amount you're willing to accept. Be prepared to leave when you can't agree on a fair price with the other side. 7. Be cautious and secure about the sale Security is of paramount importance when it comes to arranging an auction for your vehicle through a private gathering. The seller may prefer to pay in cash. S suggest that they utilize an online payment processor that is not contactless, such as PayPal, instead. A cashier's cheque is an alternative. The check will clear since the funds are immediately taken out of the purchaser's bank account when the check is made. If the buyer is interested to drive the car before committing to purchase the car, make contact with your insurer to ensure that you will be protected in case in the event of an accident. Make sure you choose a safe region and agree on 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 last, you found the perfect buyer and are now eager to close the deal. However, before you can officially close the deal, you must visit the local DMV (Department of Motor Vehicles) with the buyer to transfer the title of the car over to the next owner. Remember that this procedure is different in every state. Certain states may require proof of a passed inspection or that you call the tax assessor's office in your county. You can find the rules for your respective state at . The next steps are based on whether you want to make an extra amount of cash or swap your car out for a new one, these guidelines can help you earn top value for your vehicle. A private sale is probably the best way to maximize your profits. Be sure to obtain a few valuations before listing your ride in order to ensure the price is right and that it sells quickly.


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Written by

Allison Martin's career began more than 10 years prior to that 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 writing and editing for Bankrate since the end of 2021. They are committed to helping readers gain the confidence to manage their finances through providing clear, well-researched information that break down complex topics into manageable bites.






Auto loans editor




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