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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 aim is to assist you make better financial choices by offering interactive tools and financial calculators that provide objective and original content, by enabling you to conduct your own research and compare information for free and help you make sound financial decisions. Bankrate has agreements with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this site are from companies who pay us. This compensation could affect how and when products are featured on this site, including, for example, the sequence in which they be listed within the categories of listing in the event that they are not permitted by law for our mortgage or home equity products, as well as other products for home loans. But this compensation does have no impact on the content we publish or the reviews you see on this site. We do not cover the vast array of companies or financial offers that may be available to you.



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JGI/Jamie Grill/Getty Images
5 minutes read. Published February 27, 2023
Written by Allison Martin Written by

Allison Martin's work started over 10 years ago as a digital media strategist. She's been published in several leading financial publications such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are committed to helping readers gain the confidence to control their finances by providing clear, well-researched information that breaks down complicated subjects into bite-sized pieces.









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The demand for second-hand cars is high due to a . While the shortage is diminishing and could close this year, many auto manufacturers continue to produce fewer vehicles than they normally produce. So, dealers are still facing smaller amounts of inventory. This is good news should you sell a car that is used since you're likely to have plenty of potential buyers. Before you place an advertisement on the internet, there are some steps you should follow to make sure you receive the highest price for your vehicle. 8 steps to sell your old car something as significant as a car you'll want to get the most competitive price. Invest in cleaning your vehicle prior to putting it up for sale. Also, you should take the time to find the right price for selling and understand how to bargain efficiently. 1. Select the best method for selling your automobile.. There are three ways to sell your vehicle: Trade it in will work if you're planning to buy a car from a dealer . It's convenient, as you don't need to promote your car to buyers. However, the downside is that you will not get as much value for your vehicle like you'd from private sales. Privat sales: you'll generally receive more when you sell it yourself. However, you will have to work hard to find the ideal buyer and negotiate a fair sale price. Dealership: Many dealerships offer a no-cost, no-obligation cash offer for your car. It's fast and simple and you'll be given an agreed-upon time frame to decide whether you want to redeem the offer. Car buying websites: like Shift and AutoNation will make an offer on your car within minutes. You'll need to provide certain details regarding the car's colour, model, make and mileage. You'll also need to upload pictures. These companies provide cash quickly for your vehicle, but they typically charge service charges which eat away at your profit. 2. Take the required documents cannot sell your car to a dealer or private party unless you have 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. In the event that you do not, you may encounter issues when trying to finalize the transaction. It's also a good idea to have the documentation for emissions tests accessible if you reside in a state where emissions tests are mandatory. Additionally, if there are warranties that still apply to the vehicle, having the paperwork on hand is also important. It is possible to get more for a vehicle that is still protected by warranty. 3. Prepare your car for sale After you've determined how to market your vehicle and gathered the necessary documents, you're now ready to get it ready for market. It is ideal to clean up the exterior and interior of the vehicle to shine in the eyes of prospective buyers. Make sure your vehicle is professionally cleaned or spend time cleaning and shampooing the carpets, washing the mirrors and exteriors, applying wax if necessary and making the tires shine. Also, bring your car in for an oil change. If your tires or brakes are nearing the end of their useful life, now is the time to have them replaced. It is recommended that the mechanic change out any lights that are burned out or windshield wipers that don't work correctly. And plan to fix cracked windshields, scratches, or dents. Bankrate tip
Cleaning your car's exterior and making the necessary cosmetic changes is like staging a home to sell. The appearance of your vehicle is crucial and can result in an increase in price. Few people want to purchase cars that are splattered with scratches or dents, or with a dirty interior.


4. Determine the best price for your sale. If you plan to sell your old vehicle to a private buyer , . An amount that is too high may make potential buyers turn away, and selling for too low can mean you'll get less than you're entitled to. So, you want to be sure that you set the right price for your car, while leaving a little some room for negotiation. There are a variety of tools to figure out . Make use of the " " feature from Kelley Blue Book or refer to Edmunds to determine the value of your vehicle. Or you can use Autotrader or look up classified ads to look for similar listings within your area. 5. Make sure to inform 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 sites or advertise on sites with an online marketplace for used cars- such as Autotrader, Kelley Blue Book or Cars.com -- or in the local newspaper. When creating your advertisement make sure to include images that show various angles of the vehicle's exterior, interior and how it appears like under the hood. The ad should also mention the year, make and model of the car as well as its current condition as well as the price it is asking for and acceptable payment options. Include features that make it stick out, such as an extended warranty, a high fuel efficiency rating, heated seats, and why you want to sell your car. 6. Prepare to negotiate. To be prepared for negotiation, regardless of whether you're selling privately or to a dealer you can take your car to a few dealers and obtain offers. Use this information and what you found in your research of the value of your car's on sites like Kelley Blue Book or Edmunds to help you negotiate with prospective buyers. You'll want to come to your table with most affordable price in your mind, and then be ready to respond. Start the conversation off by letting the potential buyer throw out a number. If the number is acceptable, it's up to you to decide whether to seek out more or move ahead with the purchase. But if the number isn't enough, you can offer a slightly higher price that is higher than the amount you're willing to pay. Most importantly, be prepared to walk away if you cannot come to a fair agreement with the other party. 7. Be smart and safe about the sale Security is of paramount importance when you arrange an auction for your car with a private party. The seller may prefer to pay in cash. S suggest that they utilize the contactless payment processor like PayPal, instead. A cashier's cheque is another option. 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 test drive the car before agreeing to purchase your car, call your insurer to ensure that you will be protected in the event that you are involved in an accident. Additionally, choose a well-populated region and agree on a route before it begins. It is also possible to bring someone else with you to ensure your safety. 8. Make the sale official At last, you found the perfect buyer and you're eager to complete the transaction. However, before you can officially close the deal, you need to visit the local DMV (Department of Motor Vehicles) with the buyer in order to transfer the vehicle's title over to the next owner. Keep in mind that this process looks different in each state. Some states might need proof of a passed inspection or you should contact the tax assessor's office in your county. You can check out the regulations applicable to your state at . Next steps Whether you're looking to earn some extra cash or swap your car for a brand new one, these guidelines will allow you to get the best value for your vehicle. But, a private sale is the most likely method to make the most of your profits. Be sure to obtain some valuations prior to selling your vehicle to make sure that it's priced correctly and sells in record 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 a variety of top financial publications such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.



The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are committed to helping readers gain confidence to manage their finances with clear, well-researched information that breaks down complicated topics into manageable bites.






Auto loans editor




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