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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 decisions by offering interactive financial calculators and tools as well as publishing objective and unique content. This allows users to conduct research and compare data for free to help you make sound financial decisions. Bankrate has agreements with issuers such as, but not limited 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 pay us. This compensation may impact how and where products appear on this website, for example, for example, the order in which they may appear within the listing categories, except where prohibited by law. This applies to our mortgage, home equity and other home lending products. However, this compensation will affect the information we provide, or the reviews that you see on this site. We do not cover the entire universe of businesses or financial deals that could be open to you.



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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 content strategist. Since then, she's been featured in a variety of top financial media outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Edited by 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 to control their finances through providing precise, well-studied information that break down complex subjects into digestible chunks.









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The demand for second-hand cars is high due to a . Though that shortage is easing and may even come to an end this year, many auto producers continue to produce less vehicles than they normally do. This means that dealers have smaller amounts of inventory. It's good news, however, if you happen to be selling your used car since you're likely to be able to find more than a few potential buyers. Before you place an advertisement on the internet there are a few steps to take to ensure you get the most money for your car. 8 steps to selling your car used an asset that is as valuable as a car, you'll want to get the highest price you can. Clean your car before listing it for sale. Take time to find the right price for selling and understand how to bargain effectively. 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 will work if you're planning to purchase a car from a dealership . It's convenient, as you don't need to promote the car to prospective buyers. The downside is you probably will not get as much value for the vehicle as with private sales. Privat sales: you'll typically receive more in the event that you decide to sell it yourself. But you'll have to do the legwork to find the right buyer and negotiate a concrete sale price. Dealership: Many dealerships offer a no-cost and no-obligation cash deal for your car. It's simple and quick, and you'll have a set period to decide whether you want to redeem the offer. Car buying websites like Shift and AutoNation promise to offer you a price for your vehicle in a matter of minutes. You'll need to provide certain details regarding the car's make, model, color and mileage. You'll also need to upload pictures. These companies provide cash quickly for the vehicle you own, but they usually charge service fees which eat away at your profit. 2. Take the required documents aren't able to sell your vehicle to a private or dealer party unless you have these documents in your possession Documents from the initial sale of the vehicle. The title of the vehicle. Any service records available. If you're lacking any of these documents wait until you have them on hand to sell your car. In the event that you do not, you may have issues trying to finalize the transaction. It's also a good idea to have documentation from the emissions test accessible if you reside in a state where emissions tests are required. In addition, if there are warranties that apply to your vehicle, keeping the documentation available is essential. You could even get more money for a car which is still covered by warranties. 3. Prepare your car for sale When you've made a decision on how you want you'll sell your car and have gathered all the paperwork, it's time to prepare it for the market. It is ideal to improve the appearance of the exterior and interior of your vehicle to shine in the eyes of potential buyers. Get your car professionally detailed or spend time vacuuming and shampooing carpets, cleaning the mirrors as well as washing the exterior. applying wax, if needed, and making your tires shine. Also, take your vehicle to the mechanic for an oil replacement. If your brakes or your tires are getting close to the final stage of their service It's the right time to have them replaced. It is recommended that the mechanic swap out any burned-out lights and windshield wipers that don't work correctly. And plan to fix cracked windshields, scratches or dents. Bankrate tip
Detailing your used car and making key cosmetic fixes is similar to staging your house for sale. The way your car looks is crucial and can result in an increase in price. Few people want to purchase an automobile that is adorned with scrapes or dents or a messy interior.


4. Set the right sales price If you intend to sell your used car to a private party , . A figure that's too high can turn potential buyers off and selling for too low means you will get lower than you're worth. Therefore, it is important to be sure you price the car right with a bit of flexibility for negotiations. There are many tools to figure out . Utilize to use the " " feature from Kelley Blue Book or refer to Edmunds to get an idea of the value of your car. You can also use Autotrader or refer to classified ads to search for similar listings in your local area. 5. Spread the word to everyone on your list that you're selling your car and ask them to spread the word. You can also post on social media or advertise on websites with a used car marketplace -for example, Autotrader, Kelley Blue Book or Cars.com or in the local newspaper. When you create your ad, include photos that capture multiple angles of the car's exterior, interior and how it appears under the hood. The advertisement should also include the year, year of manufacture and model of the vehicle, its current condition as well as the price it is asking for and acceptable forms of payment. Additionally, you should include any the features that distinct, such as the extended warranty, the fuel-efficiency rating or heated seats and the reason you wish to sell the vehicle. 6. Be prepared to negotiate. prepare for negotiations, whether selling privately or to a dealer bring your vehicle to a few dealers and obtain offers. Make use of the information you've learned by 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. It is important to arrive at your table with cheapest price that you can accept with a clear mind and be prepared to counteroffer. Start the conversation off with letting the prospective buyer throw out the number. If the figure works for you, it's your responsibility to decide if you want to seek out more or move forward with the sale. If the price isn't sufficient, try to try to counter with a price point above the minimum you are willing to pay. Be prepared to leave if you cannot come to a fair agreement with the other party. 7. Be cautious and secure regarding the sale. It is essential to be safe importance when arranging the sale of your vehicle with a private party. The seller may want to pay in cash. S suggest that they utilize the contactless payment processor such as PayPal instead. Cashier's checks are another option. The check is guaranteed to clear because the funds are immediately pulled out of the purchaser's bank account when the check is issued. If the buyer is interested to test drive the vehicle prior to committing to buy the vehicle, contact your insurer to ensure that you will be protected in case that you are involved in an accident. Make sure you choose a safe location and agree to the route prior to it beginning. You may also want to take a companion with for added security. 8. Make the sale official At final, you've found the perfect buyer and are now eager to close the deal. But before it's a done deal, you need to visit the DMV office in the area (Department of Motor Vehicles) with the buyer in order to transfer the vehicle's title on to the buyer. Keep in mind that this procedure is different in each state. Certain states may require evidence of an inspection that has been passed or to make contact with the tax assessor's department in the county you reside in. The rules for your respective state at . Next steps , whether you're trying to make some extra cash or swap your car for a new one, these suggestions will help you get top value for your vehicle. A private sale is probably the best way to maximize your profits. Make sure you get some 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 career started over 10 years ago as a digital content strategist. She's been featured in a variety of top financial media outlets, including 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 writing and editing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to control their finances through providing precise, well-researched and well-researched content that breaks down otherwise complex topics into digestible chunks.






Auto loans editor




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