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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 decisions by providing you with interactive tools and financial calculators, publishing original and objective content. We also allow users to conduct research and compare information at no cost to help you make sound financial decisions. Bankrate has partnerships with issuers including, 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 site, including such things as the order in which they be listed within the categories of listing, except where prohibited by law. This applies to our mortgage or home equity products, as well as other home lending products. This compensation, however, does not influence the information we provide, or the reviews appear on this website. We do not include the universe of companies or financial offers that may be open to you.



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5 min 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 media strategist, and she's since been featured in a variety of top 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 passionate about helping readers feel confident to take control of their finances through providing precise, well-studied information that break down complex subjects into bite-sized pieces.









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The demand for used cars is high due to a . While the shortage is diminishing and could even close in the coming year, many auto producers continue to produce less vehicles than they normally would. This means that dealers have less inventory. It's good news, however should you be selling a used car, as you're still likely to attract more than a few potential buyers. Before you place an ad on the internet you must follow a few basic steps you should follow to make sure you receive the highest price for your car. 8 steps to selling your old car something as valuable as a car, you'll want to get the highest price you can. Invest in cleaning your vehicle prior to putting it up for sale. Take the time to find the right sales price and know how to negotiate effectively. 1. Pick the method you prefer for selling your automobile. There are three ways to sell your vehicle: Trade it in will work if you're planning to purchase a car from a dealer . It's convenient, as you don't need to promote the car to prospective buyers. However, the downside is that you will not get as much value for it as you would at an auction. Private sale: You'll generally be able to get more when you sell it on your own. But you'll have to do the legwork to find the right buyer and agree on a specific price for the sale. Dealership: A lot of dealerships will give you a free, no-obligation cash offer for your vehicle. It's simple and quick and you'll get an agreed-upon time frame to decide whether to redeem it. Websites for buying cars: such as Shift and AutoNation will make an offer on your vehicle in a matter of minutes. You'll provide some required information regarding the car's model, name, model, color and mileage. It is also necessary to upload photos. These companies will pay you cash fast for your car, however they usually charge service fees which can eat into your earnings. 2. Gather the necessary documents You cannot sell your car to a private or dealer 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 lacking any of these documents, make sure you have them in your possession to be able to sell your car. In the event that you do not, you may encounter issues when trying to finalize the transaction. It's also recommended to have the documentation for emissions tests available if you live in a state where these tests are required. In addition, if there are warranties that apply to vehicles, having the paperwork in your possession is crucial. You could even get more money for a car that is still covered by warranties. 3. Get your car ready for auction When you've made a decision on how you want to market your vehicle and gathered the necessary documentation, now is the time to get it ready for market. It is ideal to improve the appearance of the exterior and interior of the car to make it shine for potential buyers. Make sure your vehicle is professionally cleaned or spend some time vacuuming and shampooing your carpets, cleaning the mirrors, washing the exterior, applying wax if necessary and making your tires shine. Also, bring your car in for an oil change. If your brakes or tires are coming to the end of their useful life it is time to have them replaced. It is recommended that the mechanic swap out any burned-out lights and windshield wipers that do not function properly. Also, plan to repair cracked windshields, scratches, or scratch marks. Bankrate tip
Detailing your used car and making the necessary cosmetic changes is like staging a home for sale. The way your car looks is crucial and can result in more money. Most people do not want to buy a car peppered with scrapes or dents or an unclean interior.


4. Set the right sales price If you plan to sell your used vehicle to a private buyer , . A price that is too high can make potential buyers turn away, and selling for too low can mean you'll get lower than you're worth. You must be sure that you set the right price for your car with a bit of flexibility for negotiations. You can use several tools to figure out . Use your " " feature of Kelley Blue Book or refer to Edmunds to get an idea of the value of your car. You can also use Autotrader or browse classified ads to find similar listings in your local area. 5. Get the word out Tell everyone you know that you're selling your vehicle. Ask to share the news. You can also share your news on social media sites or advertise on websites with an online marketplace for used carsfor example, Autotrader, Kelley Blue Book or Cars.com -- or in your local newspaper. When creating your advertisement, include photos that capture different angles of the car's exterior, interior and what it appears under the under the hood. The advertisement should also include the year, make and model of the vehicle as well as its current condition as well as the price it is asking for and acceptable forms of payment. Include things that help it stand out, like an extended warranty, fuel-efficiency rating, heated seats, and why you want to sell the vehicle. 6. Prepare to negotiate. To make sure you are prepared to negotiate, no matter if selling privately or through a dealership you can take your car to some dealers and ask for offers. Use this information and what you found looking up the value of your car on websites such as Kelley Blue Book or Edmunds to guide your negotiations with potential buyers. It is important to arrive at an agreement with cheapest price that you can accept in the back of your mind, and be ready to respond. Begin with letting the prospective buyer give you the number. If the number is acceptable then you have to decide if you want to seek out more or move forward with the sale. If the price isn't sufficient, try to counter with a slightly higher price point above the price you're willing to pay. The most important thing is to be ready to leave when you can't reach a fair deal with the other party. 7. Be cautious and secure when selling your vehicle. Security is of paramount importance when it comes to arranging an auction for your vehicle through a private gathering. The seller may want to pay cash. S uggest that they use the contactless payment processor like PayPal instead. A cashier's cheque is an alternative. The check is guaranteed to clear because the funds are immediately withdrawn from the buyer's bank account when the check is issued. 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 area and agree to the route before it starts. It is also possible to have someone else accompany you to ensure your safety. 8. The sale is official final, you've found the perfect buyer and you're eager to close the deal. However, before you can conclude the deal, you need to visit the local DMV (Department of Motor Vehicles) with the buyer to transfer the title of the car on to the buyer. Be aware that this procedure is different in each state. Some may require you to provide proof of a passed inspection or you should contact the tax assessor's office in your county. You can find the rules applicable to your state at . The next steps are based on whether you want to earn some extra cash or swap your vehicle for a new one, these tips will help you get top dollars for your car. However, a private party sale is the most likely way to maximize your profits. Be sure to get several valuations prior to selling your vehicle to make sure that it's priced correctly and is sold in a short amount of time.


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Written by

Allison Martin's work began over 10 years ago as a digital media strategist. She's been featured in numerous prestigious 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 since the end of 2021. They are passionate about helping readers gain confidence to take control of their finances through providing clear, well-researched information that breaks down otherwise complex topics into digestible chunks.






Auto loans editor




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