If you have a car sitting in your driveway, it’s a great opportunity to clear out some space and earn some cash. That being said, though, it takes some planning to ensure you’re getting the best out of selling your car without getting ripped off. No matter if your car is operational or doesn’t even function anymore, you can effectively sell it off.
1. Assess the car’s condition
Before you put your car for sale, determine whether the vehicle is operational or needs to be repaired. This will dictate the price at which you will sell it as well as whether or not you should auction it.
2. Gather necessary documentation
Gather all of the necessary documents, including titles for the car, maintenance logbooks, and registers. The proper paperwork is instrumental in facilitating a much smoother transaction, as well as giving assurance to buyers that it is a vehicle above suspicion.
3. Set a fair price
For you to be able to sell off your vehicle at a fair price, you need to use online valuation tools to check the current market value. You can visit websites like Kelley Blue Book and Edmunds which can help you estimate a reasonable price based on your car’s make, model, mileage, and condition. Pricing your car competitively will attract more buyers.
4. Choose the best selling method
There are several ways to sell your car, and each method has its pros and cons:
- Private sale: This has the potential to garner the maximum return. List with detailed descriptions and good photos on sites like Craigslist, Facebook Marketplace, and AutoTrader.
- Dealership trade-in: Trading in your old vehicle at a dealership is convenient if you’re buying a new car, but you may receive less than you would from a private sale.
- Online car buying services: CarMax, Carvana, and Peddle are some of the companies that offer instant quotes and might buy cars in any condition, including non-running vehicles.
5. Prepare the vehicle for sale
A well-groomed, clean car is more appealing to buyers. Wash and detail the interior and exterior, repair minor cosmetic problems, and get the vehicle in the best condition possible before bringing it out to show to potential buyers.
6. Handle the sale securely
To ensure a safe and legal transaction:
- Draft a Bill of Sale: This document should include the car’s details, sale price, and both parties’ signatures as proof of purchase.
- Transfer the Title and Registration: Complete all necessary paperwork to transfer ownership and avoid future liabilities.
7. Remove personal belongings and license plates
Unless it’s been arranged otherwise, before you hand them the keys, search the vehicle for personal items and remove them. Your state may require you to remove the license plates and return them to the motor vehicle department.
8. Notify the relevant authorities
Notify your state’s Department of Motor Vehicles (DMV) or other equivalent agency once the sale has been made so they can note the transfer of ownership. Doing so protects you against future issues with the car.
Moreover, it is quite an easy thing to sell a non-used car if done properly. With these steps, you will be able to get the best out of your car and complete the deal smoothly. Regardless of the method you chose to sell your car, whether privately, at a dealership, or online, preparation and research will help you get the best price.
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