How to sell your car for the most money

How to make the most money when selling your car

When you’ve decided to part ways with your vehicle, there are a few different avenues that you can take to get rid of it. But before you decide how you’d like to go about selling it, you should understand your car’s value.

How much is your car worth?

Not all vehicles depreciate at the same rate, but no car is ever worth as much as you first paid for it, simply because you’ve added miles and wear and tear. There are a few tools that you can use, like Kelley Blue Book, to determine your car’s value. You’ll need to know certain information about your car, such as:

• Year
• Make and model
• Mileage
• Special features
• Overall condition of body and interior
• Whether or not it’s been in any accidents

You won’t be presented with a set value for what your car is worth, but you will get a range, based on the criteria you’ve defined, which can help you determine how you’d like to sell your car, and where to start with negotiation, and how much wiggle room you can afford. If you’re hoping to use your car sales profits to purchase a newer vehicle, knowing this range can help you save and budget appropriately.

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Also, if you’ve recently performed maintenance on your car—replaced tires, gotten a new battery, installed new brakes, or had any other pricey work done—you can use that to negotiate a higher price. Just make sure you have the paperwork to back it up.

Selling your car to a private buyer

Chances are you’ll get the most for your car if you sell it to a private buyer. An individual is likely to offer you a better price than a dealership. That said, there are a few steps you should take before listing your car anywhere or putting a “For Sale” sign in the window.

Curb appeal

Take time to make your car look its best. The better your vehicle looks in picture and in person, the easier it will be for you to justify its price to potential buyers. You’ll definitely want to clean your car. Use this checklist to make sure you don’t miss anything:

• Remove all personal items and any accumulated debris
• Clean dashboard, seats, mirrors, and all surfaces
• Vacuum carpets, floors, and seats
• Shampoo cloth floormats
• Remove stickers and magnets
• Replace windshield wipers
• Replace burned out lights
• Inspect tires and make sure they’re not worn down and are properly inflated
• Repair any dents or scratches

You may want to have it professionally detailed before taking any listing photos, so that the interior is spotless and any questionable smells from sports equipment or fishing trips are eliminated.

You may also want to consider handing minor repairs before you list your car. Get your oil changed and have your vehicle inspected so that you can disclose any potential issues to a prospective buyer. You’ll have the inspection report to back you up if a buyer balks at your price because of a faulty lock or window.

Gather documents

When you sell your car, you’ll need to exchange documents, so it’s a good idea to have them ready to go. Paperwork you’ll need can include:

• Title. This establishes you as the legal owner of the car and you’ll need to sign it over to the new owner. If you’re still paying off the car, your lender will have the title, and the remainder of the loan balance will need to be totally paid off before the title can be transferred.
• Bill of sale. Each state has different requirements for selling a car, but yours may require you to complete a bill of sale. You can probably download this document from your state’s department of motor vehicles website. From here, you can also learn if your state requires any additional documentation.
• Maintenance records. If you’ve held on to your car’s maintenance records or documentation of repairs, this can be information that’s useful for buyers. A car repair tracker can make it easy to keep this information in one place.

Selling your car to a dealership

If you’ve decided to trade cash for convenience and to sell your car to a dealership, there are a few options there as well. The most popular option is to trade in your car and get a newer vehicle, but you can also simply take your car to a dealership and ask what they’ll pay for it. Some national chains exclusively sell used vehicles and are constantly looking for inventory, so you may be able to shop your car around at different dealerships to see who is offers the best price.

Selling your car can be stressful, but if you take the time to get your vehicle looking its best, understand what it’s worth, and get all your necessary documents in order, you should be in good shape whether you sell to an individual or a dealership.