How To Sell Your Car Online
January 7, 2011
If you are looking to make some cash by selling your car to either pad your bank account or get together down payment money for a new car, you may want to consider selling your car online to see if you can make more than what a vehicle trade in would offer. However, in order to do this correctly, you need to know the best methods for selling your car online so it doesn't become a long and drawn out process.
First, before you make a posting on a car for sale website, research how much your car could potentially be worth so you know where to start the sales process and also where you are willing to negotiate to. It is important that you consider the condition of the car, the year, the mileage, and how long you have owned it. You must be open and honest about any repairs or damage the car has experienced in its lifetime. Furthermore, now is the ideal time to grab all vehicle maintenance records and receipts that you might have in your possession, chances are, an interested buyer is going to want to see this information.
Look at a trusted source for pricing information. Kelly Blue Book is the industry leader in used car conditions and pricing and while this source can offer values a little higher than average, it is a good place to start. Also consider NADA, as this is the reference material most dealership and financing providers use when researching vehicle value.
Next, consider where you are going to post your advertisement. Look for a reliable and noteworthy website that many buyers use. Consider cars.com and also think about Craig's List. While the former has a stringent listing process, the latter has more flexibility. If you are thinking about using Craig's List, make sure you only work locally and verify all payment before turning your car over. You don't want to get scammed.
When you write your ad make sure you are as descriptive as possible. Add pictures to your posting and make sure you position your car in the most flattering light as possible, i.e. don't post pictures of a dirty or messy car. Remember, no one wants to buy someone else's junk.
After you post the ad, know that you may have to enter into a negotiation process with a potential buyer. The economy is not fantastic right now and people are trying to make their money stretch. Make sure you know the lowest that you are willing to go in sales price, so you can feel confident about making a decision. Finally, once you have sold the car, get the vehicle ready to be turned over. Provide the new buyer with a clean and washed car and transfer all paperwork and maintenance records to the buyer for future reference. Make sure you keep copies of all items for your records and report to the state and insurance companies that the car is no longer in your possession.
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