There are several options when you want to sell you car – some you may already know about, as well as some new options that are available to you. However, it’s safe to say that the days of papering the neighborhood with homemade fliers is pretty much over.
But before you even begin the process, you need to know something about the value of your car. Go to the Blue Book, one of the best known names in car value guides. The Blue Book will give you a target for your price, but you’ll need to know the make, model, year and mileage of your car. It’s important to find out the fair market value of your car so that you don’t under-value it, and so that you can set a price that will be attractive to a potential buyer. Once you’ve determined a fair value for your car, you can move on to the next step.
First, consider whether you’re replacing your car with another one, or if you’re just getting rid of an old one. If you are replacing your car, make any trade-in deal part of your consideration. Different dealers will offer different trade-in rates, so it’s important to check them out as you look at their new car options. Make the trade-in amount a dealer is offering as much a part of your decision as the other factors that go into buying a new car.
If you’re simply trying to get rid of an old car, there’s always the old and venerable method of listing it in the newspaper; but today, look for a newspaper that offers a parallel listing on their online site. Most of the larger news outlets will give you both a print and an online listing for the same price. In either case, be firm on your price and the times you’re available to show the car., as these advertisements can open the door to the public and set you up for calls at all hours of the day and night.
If you want to be a bit more involved, there’s also the auction route. The auction yard is a time-honored way to sell cars, but be warned – you need to know the rules not only of your state, but of the auction house itself. There will be a fee associated with selling this way – usually a percentage of the sale – and you can find that out before you go to the auction. If you’re a novice in these matters, be sure you use a well-known and well-established auction house. If you approach a house that doesn’t want to talk to you and answer your questions, walk away. There are sharks out there that will try to take advantage of you, so if you don’t feel comfortable, go elsewhere.
A big problem with auctions like this is that you have to take the highest bid, even if it’s under the Blue Book Value. Now, it could also be over, but that’s a risk you’ll have to take. One way to lower that risk is try an online auction. There, you can set a minimum price, and if it’s not met, the car isn’t sold. Again, the auction hosting organization or company will take a percentage of the total sale price, but you’ll have much more control over the bidding process. In addition, you’ll find that the customer service on the larger sites is a world away from what you’ll get at a brick and mortar auction house.
