So you have decided to get rid of your old car. Maybe you want to upgrade, or maybe you just don’t need it anymore. Whatever your reason for selling a used car, there are several factors you will want to consider before deciding on the best person or company to sell your car to.
Here are some tips to help you get started:
Do You Need a Vehicle Inspection Report?
Vehicle inspection reports are a little like the survey you would commission before buying a house, except that they look at the health of your car instead. Unlike a house survey, however, these reports are usually paid for by the seller rather than by the potential buyer. While you might resent the idea of having to pay for a vehicle inspection report, it could prove an invaluable tool in helping you price your car correctly.
Being able to prove to a potential buyer that your car is in the best possible condition for its age and mileage will enable you to put the price up by several hundred dollars, so paying for a vehicle inspection report may well turn out to be a worthwhile investment.
Taking Your Car to a Dealership
Taking your used car to a dealership is probably the quickest and easiest way of selling it. Car dealerships have team of experts who can guide you through the process and make sure that all the necessary paperwork is completed—and, by the way, you should expect a lot of paperwork! As this article on how to sell car points out, however, a dealership may not offer you the best price for your car, especially if you are selling a high-market vehicle such as a sports car.
If the dealership think that your car might depreciate between the time they purchase it from you and the time they are likely to be able to resell it, they might make you a low offer. This is one reason why it pays to know exactly how much your car is worth. Don’t be afraid to haggle with a dealership for a higher price, and if they refuse to budge just walk away and try your luck elsewhere.
Given the points above, you might be tempted to seek out a private buyer instead. This can be a very lucrative option, but it does require some additional legwork on your part. This checklist for private car buyers can give you an idea of the paperwork and other requests that a potential buyer is likely to make of you. They will most likely want to test drive the car, which is absolutely understandable—but how do you know that you can trust them to bring it back? This article about test drives suggests riding along with the potential buyer on a pre-agreed route and hanging on to the potential buyer’s own car keys as collateral.
Take your time and do your homework! It will all pay off in the long run. Good luck!