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How to sell your used car in 8 steps Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering you interactive tools and financial calculators that provide objective and original content, by enabling users to conduct research and compare data for free to help you make financial decisions with confidence. Bankrate has partnerships with issuers such as, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this site come from companies that compensate us. This compensation could affect how and when products are featured on the site, such as such things as the sequence in which they be listed within the categories of listing, except where prohibited by law for our mortgage or home equity products, as well as other products for home loans. But this compensation does have no impact on the content we publish or the reviews that you see on this site. We do not cover the entire universe of businesses or financial offerings that could be accessible to you.



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5 minutes read. Published on February 27, 2023.
Written by Allison Martin Written by

Allison Martin's work began over 10 years prior to that as a digital content strategist. Since then, she's been published in numerous prestigious financial publications including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are dedicated to helping their readers to take control of their finances by providing precise, well-studied information that breaks down complicated subjects into digestible chunks.









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The demand for second-hand cars is high due to the . Although the shortage is decreasing and could even be over by the end of this year, many automobile producers continue to produce less vehicles than they usually do. So, dealers are still facing less inventory. However, it's a good thing should you be selling your used car because you're likely to have many potential buyers. Before you place an ad on the internet, there are some steps you should follow to make sure you receive the highest price for your vehicle. 8 steps to selling your car used an asset that is as valuable as a car, you'll want to negotiate the best price possible. Clean your vehicle prior to listing it for sale. Take the time to determine the best price for selling and understand how to negotiate effectively. 1. Select the best method you'd like to market your vehicle.. There are three options to sell your car: Sell it to a third party: only is it possible to purchase a vehicle from a dealership . It's convenient because you don't need to promote the vehicle to potential buyers. However, the downside is that you will not get as much value for your vehicle like you'd at an auction. Private sale: You'll typically be able to get more when you sell it yourself. But you'll have to do the legwork to find the ideal buyer and agree on a specific selling price. Dealership: A lot of dealerships offer a no-cost, no-obligation cash offer for your vehicle. It's quick and easy and you'll be given a set period to decide whether or not to accept it. Websites for buying cars: such as Shift and AutoNation guarantee to offer you a price for your vehicle in a matter of minutes. You'll provide some required information regarding the car's name, model, color and mileage. You'll also need to upload photos. These companies offer cash in a short time for your car, however they usually charge service fees that eat into your profits. 2. Take the required documents cannot sell your car to a dealer or private party unless you have these documents on hand The original paperwork from the purchase of your vehicle. The title to the vehicle. Any service records available. If you're missing any of these documents, ensure you have them on hand in order to sell your vehicle. Otherwise, you could face complications when trying to close the deal. It's also recommended to have documentation from the emissions test available if you live in a state where these tests are required. Additionally, if warranties still apply to the vehicle, having this paperwork on hand is also important. It is possible to get more for a vehicle that is covered by warranties. 3. Make sure your car is ready for sale After you've determined how you'll sell your car and gathered the necessary documents, you're now ready to get it ready for the market. It is ideal to clean up the interior and exterior of the car to shine in the eyes of prospective buyers. Get your car professionally detailed or spend some time vacuuming and shampooing the carpets, cleaning the mirrors, washing the exterior, applying wax, if needed, and making the tires shine. Also, bring your car to the mechanic for an oil replacement. If your brakes or tires are getting close to the final stage of their service It's the right time to get them replaced. The mechanic should change out any lights that are burned out and windshield wipers that don't work correctly. Plan to fix damaged windshields, scratches, or scratch marks. Bankrate tip
The process of cleaning your car and making key cosmetic fixes is like staging a home for sale. The appearance of your vehicle matters and will help fetch more money. Many people don't want to purchase cars that are splattered with scratches or dents or an unclean interior.


4. Determine the best price for your sale. If you are planning to sell your used vehicle to a private buyer , . An amount that is too high could make potential buyers turn away, and selling at a price that is too low could result in you receiving lower than you're worth. You must do your research to ensure you price the car right with a bit of flexibility for negotiations. There are a variety of tools to determine . Use your " " feature in Kelley Blue Book or refer to Edmunds to determine the value of your vehicle. Also, you can utilize Autotrader or look up classified ads to search for similar ads within your area. 5. Spread the word to everyone on your list that you are selling your vehicle and ask them to spread the word. You can also post on social media, or post ads on sites with an auction for used carslike Autotrader, Kelley Blue Book or Cars.com -- or in your local newspaper. When you create your ad include photos that showcase various angles of the vehicle's exterior, interior, and what it looks under the car's hood. The ad should also state the year, model and year of the car and its condition at the time of writing, the asking price and acceptable payment methods. Additionally, you should include any the features that stick out, such as an extended warranty, a high fuel efficiency rating, heated seats, and why you want to sell the vehicle. 6. Be prepared to negotiate. prepare for negotiations, whether selling privately or to a dealership, take your car to some dealers and ask for offers. Make use of the information you've found when researching your car's value on sites like Kelley Blue Book or Edmunds to help you negotiate with potential buyers. It is important to arrive at an agreement with lowest price with a clear mind, and be ready to make a counter offer. Begin by letting the potential buyer give you an amount. If the figure works then you have to decide whether you'd like to seek out more or move ahead with the purchase. If the price isn't sufficient, try to offer a slightly higher amount that is greater than the amount you're willing to accept. Most importantly, be prepared to walk away if you cannot agree on a fair price with the other side. 7. Make sure you are safe and knowledgeable regarding the sale. It is essential to be safe importance when you arrange the sale of your car by a private party. The seller may prefer to make payment in cash. S uggest that they use an online payment processor that is not contactless, such as PayPal, instead. A cashier's check is another viable option. The check will clear because the funds are immediately taken from the buyer's bank account when the check is issued. If a potential buyer wishes to test drive the vehicle before agreeing to purchase your car, call your to ensure you will be protected in the event of an accident. Make sure you choose a safe location and agree to the route before it starts. You might also wish to take a companion with you to ensure your safety. 8. Get the deal signed off at final, you've found the perfect buyer and you're eager to close the deal. However, before you can officially close the deal, you have to go to the DMV in your area (Department of Motor Vehicles) with the buyer in order to transfer the title of the vehicle on to the buyer. Remember that this process looks different in each state. Certain states may need evidence of passing the inspection or to make contact with the tax assessor's department in your county. You can check out the regulations applicable to your state at . The next steps are based on whether you want to make some extra cash or swap your car for a brand new one, these guidelines will help you get top dollars for your car. But, a private sale is likely your best method to make the most of your profits. Be sure to get several valuations prior to selling your vehicle to make sure it is priced right and is sold in a short amount of time.


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Written by

Allison Martin's work began over 10 years prior to that as a digital content strategist. Since then, she's been featured in a variety of top financial outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.



Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are passionate about helping readers gain the confidence to control their finances with precise, well-researched and well-researched content that breaks down complicated topics into manageable bites.






Auto loans editor




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