10 Tips for Selling Your Car

Monkey Boy is in the market for a new {to him} vehicle, which means he will need to sell his own car first. It’s his first time selling a vehicle, so I wanted to give him some tips to get the most out of the sale and avoid any scams. Here’s what I told him. Thought you might find it useful, too!

Know Your Car’s Worth: In order to prevent losing money or overpricing a car that will then never sell, check the accurate value of your car. The key word there is accurate. If your vehicle is trashed and dented and dinged, the year make and model might be the same as another vehicle, but the value will be less. Be honest about mileage, upgrades and damage. You can input all of that info online and get a fairly accurate price. I always check 3 sites: Kelley Blue Book, NADA Guides, and Edmunds. Then I average the 3 and get the price I think I should list the vehicle at.

Clean It Up: This one should be obvious, but to some it may not be. You will get more for your vehicle if it’s clean. Plain and simple. Of course, I’m always telling Monkey Boy to keep his car clean to begin with, which will make the deep clean before selling that much easier. Scrub, vacuum, polish and shine every inch. If you simply don’t have the time, there are many places that will detail your car for you. This might be totally worth the cost as you’ll more than likely recoup that cost in the sales price.

Get Your Paperwork in Order: This tip is pretty straightforward. You’ll need to gather the title, maintenance records and any warranty info the new owner might need. You can also print out a generic Bill of Sale to fill in, or you can type one up after negotiations.

Know Your Advertising Options: You can find some free advertising options on the internet on sites like Craig’s List, or you can pay to advertise online on sites like eBay, Cars.com, Autotrader.com, Kelley Blue Book or your local paper’s classifieds. Also, head to the store and buy a for sale sign at Home Depot and throw it in the window of the vehicle. Free advertising as you drive around town!

Pictures Sell: Regardless of where you choose to list your car, be prepared to take good quality photos of the vehicle. All angles, the more the better. And try to take it during the day in good lighting. People are visual so those pictures might make or break their decision to even look at your vehicle.

Make Your Pitch: Now that you know where you’re advertising and the pictures have been taken, it’s time to write the ad. You want to give all the information you can in a clear concise manner. I’d recommend including the asking price {and whether the price is firm or OBO if you’re willing to consider offers}, mileage, vehicle condition, vehicle history {has it been in any accidents?}, any modifications or upgrades, any recent repairs, the VIN number and all of the bells and whistles.

Screen Out the Wackos: First, I recommend a phone conversation before agreeing to meet in person. You can sniff out some fraud with this step alone. Ask about financing and vehicle needs. Beware of anyone who offers to buy your car sight unseen. It’s best to sell to someone in your area who you can meet in person. Don’t accept out-of-state checks. Don’t accept checks for over the amount. Period. Ever. Even if they give you some sob story and promise you thousands of dollars over asking price. Walk away. Cash or a cashier’s check is best. Also, tell the potential buyer that you’ll be holding onto his driver’s license before handing over your keys.

Use the Buddy System: Even if you’ve done a thorough job screening out the crazies, never ever ever agree to meet someone or take a test drive alone. Always bring someone with you and meet in a public place like a heavily trafficked grocery store a mall parking lot or my favorite, the police station. Many police stations have designated sales meeting areas in their parking lots.

Negotiate Like a Champ: Dmv.org has some great tips about negotiating. “After you’ve shown and discussed the vehicle, remind the buyer how firm the price is. If it’s up for negotiation, don’t be afraid to make a few counter offers if you aren’t happy with the buyer’s price. When you negotiate, it’s a good idea to have a starting price that’s higher than what you’re willing to accept. Also have a dollar amount in mind that’s your lowest acceptable price and stick to it.”

Transfer the Title the Right Way: Check with your state’s rules regarding title transfer. In many states the buyer needs to retitle the vehicle, register the car in his name and pay any transfer fees and taxes to complete the transfer of the vehicle. Those steps can be completed at your local DMV location. You’ll also need to have both the buyers and sellers complete a “bill of sale” along with a “release of liability” form to provide proof of the transfer and to protect the seller from any future tickets, violations or other problems with the vehicle.

And that’s all I’ve got. Any tips I missed?

Sell on,

~Mavis