Understanding the fundamental processes of how to sell your car can be overwhelming, especially if this is your first time doing so, even more so if you’re aiming to get the most money out of the transaction. You need to know the tried-and-tested tricks out there to get the best deal on your car.
The good news is that selling your car and maximizing your returns is not rocket science. As long as you do your due diligence in following the simple tips listed below, you’ll set yourself up for a smooth, swift and satisfying sale.
How to Sell My Car: Determining A Vehicle’s Worth
Before you start any conversation with a potential buyer or dealer, it’s crucial that you know your car’s approximate worth. Fortunately, there are plenty of resources available online that you can use to do this.
Here are today’s most helpful industry-standard car value guides:
- Kelley Blue Book: Named after the blue velvet-covered books it once published, Kelley Blue Book is a vehicle valuation and automotive research company offering data-driven car valuations.
- NADAguides: The National Automobile Dealers Association’s website, NADAguides.com, offers piercing information on both new and used vehicles.
- Edmunds: While relatively younger than the first two guides, Edmunds’ appraisal tools include five car condition categories to provide accurate values.
These online car price guides usually ask for the following information to provide you with valuations:
- Your automobile’s make, model, year and trim
- Engine size and type
- VIN or license plate
Study Your Options For Where You Want To Sell To
Selling Your Car to a Local Dealer
There’s nothing wrong with choosing a local dealership, especially if you’re after convenience. After all, you can trade in your old car and avoid the tedious work of selling it yourself in just one trip. All you have to do is contact them, schedule an appointment with the appraiser and prepare the paperwork to sell your car.
There’s also the added benefit of saving on vehicle cleaning and detailing since used car managers look beyond the appearance. No matter how much you prep your vehicle, they’ll still consider all the reconditioning work needed to get it sales-ready.
That said, this might not be the route for you if you want to get the best value for your car. This is because car dealers buy low and sell high to earn from the used vehicles they take in trade. Local dealers could probably give you the lowest offer you’ll receive and buy your car with as little money as possible.
Selling to a Private Party
This option can put you in line to get the best price for your car. But here’s the catch: compared to transacting with local dealers, you’ll need to put time, money, and effort into getting your vehicle ready for sale. This includes enlisting the necessary repairs and detailing services, posting advertisements wherever possible, and even showing the car to strangers.
Finally, remember that closing the sale and taking payment from your buyer is also entirely up to you. Throughout the process, you’ll have to ensure all documents are correct and that you are getting your car’s true worth.
Selling to a National Dealer
Going with national dealerships and auto wholesalers is your best bet if you want a quick, hassle-free way to secure the best deal on your car.
Selling to these companies is a lot like selling to your local dealers – you won’t need to clean up your vehicle, spruce up its interior or spend some bucks on detailing. Instead, wholesale dealers like GivemetheVIN are ready to refurbish your car before selling them at major auto auctions.
The difference lies in their offers. These dealers offer competitive prices when buying used vehicles and even remain open for negotiations. The best part is this — they take away the stress and hassle of meeting with agents or buyers in person. National used car dealers often offer a completely online service, allowing you to get valuations and even proceed with the sale using their platform.
Tips for Getting the Best Deal on Your Car
Regardless of where you decide to sell your car, here are a few more tips on how to sell your car and get satisfying returns.
- If You Can’t Fix It, Disclose It
If you have decided to sell your old vehicle to a private party, you will need to fix its obvious problems before showcasing them. Even after you’ve managed a potential buyer’s expectations, they will still naturally want a car without significant issues.
The case is different with dealers, as they already expect used vehicles to have mechanical issues here and there. On top of that, they know they will always need to do some prep work before putting the car on sale. So to have a smooth deal, it’s best to point them out to your prospective buyer.
- Compare Quotes First
Another tip worth keeping in mind to maximize your returns is never accepting the first offer you receive. Unless you are given a price that you believe is close to your car’s worth, feel free to shop around for more offers.
Most of the time, the offers given to you by dealers will be good for a certain period of time. Take advantage of this window to browse through other quotes. Who knows, you just might come across another dealer that will beat your current offer.
- Keep Yourself Safe Throughout the Process
Truth be told, meeting potential buyers can be dangerous. You never know what can happen, so it’s always a good idea to meet at a busy public place. You’ll also want to schedule the meeting during the day to ensure your safety.
If you have any doubts or questions about the prospective buyer, it may be best to skip the meet-up. There are many other buyers out there.
- Find the Safest Way To Get Paid
To ensure you’ll enjoy the fruits of this sale, it’s a good idea to accept only cash or a cashier’s check for sales with an individual. These are the most secure ways to receive payment from a private sale. You can further protect yourself from fraud and bounced checks by closing the transaction at your buyer’s bank. In this way, you can immediately verify that the check is good.
When selling your car to a dealership, you’ll also want to pay attention to the kind of check you’re receiving. GivemetheVIN, for example, pays car owners checks that are cashable at the nearest Bank of America location for their convenience.
Sell Your Car With a Satisfying Offer in One Day
If you’re one of the many car owners plagued with worries like, “I need to learn how to sell my car right now!” we hope this blog helped you out. You can take the first steps toward a great deal today by understanding your vehicle’s worth and studying your options.
If you need to speed things up without losing out on satisfying offers, GivemetheVIN is the place to be. All you have to do is send us the VIN, add pictures of your car and wait for your quick, 60-second offer. Get a free estimate now and sell your vehicle for the best price – all in as fast as one day!