Car sales is a pretty big business, regardless of whether the vehicles are new or used. If you’ve decided that it’s time to sell your car, you may be trying to figure out your next steps. There are several ways to go about selling a vehicle. Some are easier than others and some are more profitable than others. There are three popular options for selling, trade-in, private sale and junk dealer. Let’s look at these three options.
Trade-In
You’re probably wondering, “Who can buy my car,” right about now, so here’s the short answer: Anybody can buy your car. But that’s probably not the kind of answer you’re looking for. One of the more common options for selling a car is to trade it in for a new vehicle. To leverage your old car’s trade-in value, you’ll need to go to a car dealership. Some dealerships will buy your car whether or not you purchase one of their vehicles, while others require you to buy one of their cars in order to make a trade. The value of your car will vary according to its age, its make and model, its mileage and its overall visual condition.
Private Sale
A private sale is when a vehicle owner sells a car directly to a buyer. There are usually no contracts, just an exchange of the vehicle title, a bill of sale and the buyer is responsible for retrieving the car. One of the most reliable places to find the value of your car for a private sale is Kelley Blue Book. As long as you’re truthful about the condition of your vehicle, it will give you the current going rate for your make, model, mileage, etc. As far as your legal protections go, you should be upfront about any issues that the car may have and whether it’s been in any accidents. Many states have lemon laws which govern used car sales that you need to be aware of. It is also advisable that you write up a bill of sale. It should include the names of both buyer and seller, the sale price, the date of sale, and the car’s VIN, year, make, model and mileage. Both parties should sign and date this as well.
Junker
In almost every city or town there’s a junker. You’ve probably seen their ads posted on telephone poles and bulletin boards. They typically offer up to $1000 for an unwanted vehicle. They’ll usually come to you, put cash in your hand, then take both the assigned title and the vehicle away. Usually people go with this option when their vehicle is in pretty bad shape and not worth trying to sell or when they’re in dire straits and need the car gone quickly.
Before you sell your car, it’s a good idea to get it detailed and washed. Just how we eat with our eyes, we also buy with our eyes before we consider opening our wallets. If something looks beat up and run down, we’re less likely to see a whole lot of value in it. A thorough cleaning can also help to reveal any hidden issues you may want to consider taking care of, to increase the sale value of your car.
