Parting with your car can be a difficult decision, but sometimes the need arises to get rid of that old car. Perhaps it’s past its prime and you are ready for something new. Maybe you just love getting a new car frequently, but you have to get rid of the old one first.
Regardless of your reasons, it is common knowledge that you are going to lose money when you try to trade in your car at the dealership. Selling your car on your own can provide a great sense of accomplishment, and it can also provide a little extra coin in your pocket since you can expect to get a higher price than you would if trading.
So, how exactly should you approach selling your vehicle and what are the best avenues to ensure you will get the best price for it? There are a few different ways to sell, and we’ll discuss those here as well as the pros and cons of each.
Online Classified Ads
This is becoming a popular choice among car sellers today. Simply take some pictures of your car, create an online ad, and boom! Your car is for sale and you just wait for the buyers to roll in! Well, not always.
Creating the online ad is the easy part. Getting buyers interested and finding those who will actually show up is a little tougher. You will often field phone calls and emails only to find that people don’t stick to what they tell you. However, in some cases, it’s worth the hassle! Many people sell their vehicles on these sites every day and get decent prices for them. So, this route may just be worth a try!
Sell to a Dealership
There are many dealerships out there who will buy your car even if you don’t buy a car from them. You can take your car to them, let them inspect it, and then they will make you an offer. In most cases, this offer will be good for somewhere between 3 to 7 days and 500 miles or less.
This can be a good option if you need quick cash, but don’t expect to receive top dollar for your vehicle. Remember that the dealership will want to turn around and resell your car, so they will probably offer you about the same amount that you could expect on a trade-in.
Car Buying Service
One of the more recent options is to sell your car to a local car buying service. There are nationwide car buyers who will give you an instant cash offer to purchase your car just by simply providing them the details about your vehicle. They will also come to you and pick up the car at no charge and pay you on the spot.
The great thing about these services is the fact that they will typically buy cars in any condition from junk vehicles to ones that are almost brand new. While you might not get as much money as selling to a private party, you can usually get more than at a dealership and you’ll get money quickly.
What Paperwork Do I Need to Sell My Car?
Most states require a bill of sale and a valid title or registration to sell your vehicle. You can find free bills of sale templates online and you can just fill in the blanks with information about the buyer, seller, and vehicle. If you don’t have a title, then you should contact your local DMV to obtain a replacement. If you have a loan on the car, then contact your bank before selling so that your buyer can obtain the title upon purchase.
If you have a car you need to sell, you can do it! There are several options available today for easily selling your car, so pick the one that works best for you and go for it!