Selling your used car is a great way to get some cash. Whether you are about to purchase a new car or you are moving to place where you don’t need one, selling your car is a great way to start off on the right foot. So it begs the question: how can you make the most out of your used car sale? After all, you might have spent good money on your car, and you want to get the best price for your investment. Here are four ways to make more money on your used car.
Know Your Vehicle’s Worth
You need to first know what your vehicle is actually worth. One of the most popular resources to determine the worth of your car is Kelley Blue Book. This site will show you whether or not your car is worth what you thought. If it turns out to be so low it isn’t worth the hassle, then you at least will know ahead of time. After you do so, you should compare prices of similar cars that are sold on sites like Craigslist or Cars.com.
Gather Paperwork
This is all preliminary, but it is still worth mentioning. Do not even start advertising your car for sale until you have all of your paperwork settled. This will secure you from any liability in the future. You will need: the title, which is to be signed to the new owner; records of maintenance to show reliability; a bill of sale to document the terms and conditions to prevent legal issues; release of liability, which is used to prevent you from liability for any damages that occur after you sell it to the new owner; warranty documents, which apply if your vehicle is still under extended warranty; and as-is documentation, used only if there are no warranties—be clear that the owner will have responsibility for all damages once the vehicle is sold. If you’re unsure about the legalities, consider consulting with a lawyer in your area.
Prepare the Car
Now that you have the necessary documents in order, it is time to groom the car for selling—nobody wants to pay high price for a dirty car. It is definitely worth spending around $100-$200 to make the car look as good as new. The investment can raise the resale value a few hundred dollars more than the detailing you invested in it. Wash and wax the vehicle, clean all of the rims and tires, replace mats, detail the interior, empty and clean the trunk, clean any ashtrays, and wash both sides of the windows.
It is also important to note that any modifications should be reconsidered. Although certain mods will look great to you, you will want to appeal to as many buyers as possible. The best way to appeal to a buyer is to play it safe—any over-the-top modifications can go either way. Some high end sports vehicles with edgy mods may appeal to the type buying a sports car, but your more domestic vehicles should be kept simple.
Advertise
Creating an ad is the most essential part of the process. Younger buyers almost exclusively look to the internet when in the market for a new vehicle. Make sure you take well-lit photographs of the car from the sides, the front, and the back. Take photos of the interior as well. Next, you will have lay out all of the details of the vehicle. A potential buyer probably won’t know everything about the make and model of your car. Include the asking price, mileage, history of damage, repairs, modifications, and VIN number. Be sure to use keywords when describing your vehicle in the title. Using all caps may catch the eye, for example, but it could also make the buyer feel like they’re being yelled at through the screen. Instead, try using key words like “runs like new” or “newly modified” to gain
attention. Something to keep in mind: selling a car can be a slow process. If you’re in a bind and strapped for time, you’ll likely need to pursue a more efficient option; selling to companies that buy cars can speed up the process. You may not get the same price when using a certified car buyer, but you will save yourself plenty in frustration.
