Are you interested in selling your car? The process can seem confusing, but it’s usually far more accessible than many realize. Eight simple tips can help ensure you maximize the profit and minimize the hassle. Here’s how to turn your wheels into deals with ease.
Decide how you plan to sell
You have several different options for selling your car. Popular methods include selling it to someone you know, trading it in at a dealership, accepting an instant cash offer from Kelly Blue Book, placing an ad online, or selling it to a reliable pick-and-pull.
A pick-and-pull junkyard is a particular type of yard that focuses on vehicle parts. Because they’re more concerned with individual components, these yards will buy any kind of vehicle, even junk cars that don’t run. Salvage yards are one of the easiest ways to sell your car because you don’t have to clean or repair it beforehand.
Have your car inspected by a professional mechanic
Before selling your car, you want to know its precise condition. Take your vehicle to a professional mechanic or authorized service center for a bumper-to-bumper inspection.
The better shape your car is in, the more you can ask for it. It’s often in your best interest to pay for minor repairs yourself so that you can set your initial asking price higher.
Save the inspection report you receive from your mechanic. You can show it to potential buyers as proof your car is in the condition you’re claiming.
Assemble all the necessary paperwork
You’ll need to find and organize a variety of paperwork. Requirements vary by state and city, but you’ll likely need the vehicle’s title, odometer certification, any lienholder information, and more.
Make sure you consult with your local DMV for the specific rules. As a private seller, you’re responsible for accounting for all the correct paperwork. However, if you’re selling to a dealership or pick-and-pull lot, they’ll handle all the paperwork on your behalf.
Clean and detail your car
Nobody wants to buy a car that’s dirty or appears rundown. You’ll have a far easier time selling your vehicle if it looks clean, shiny, and new.
Wash and wax the exterior. Don’t forget the tires and rims, as prospective buyers often pay special attention to those areas. Clean the interior thoroughly, too. Consider professional detailing to give your vehicle that “new car” smell.
While not necessary in every case, you might consider having the exterior of your car painted. A new coat of paint will attract the eye of potential buyers, and you can potentially cover the costs with an increased sale price.
Transfer your “No Claim Bonus”
A No Claim Bonus is an official notification from your insurance company signifying that you’ve never filed a claim on your vehicle. If you’re selling your car, you’ll want to request an NCB retention letter.
Your No Claim Bonus helps reduce your insurance rates. By requesting retention, you can transfer the benefits of that bonus to another vehicle you own. The retention typically lasts for two years.
Determine a price
Look for the Insured Declared Value (IDV) of your car on your current insurance policy. The IDV is the value of your vehicle as determined by your insurance company. It’s the original price of the car minus depreciation.
Also, check sale prices online. Look for cars similar in type, age, and condition to the vehicle you want to sell. Focus on local ads, such as Facebook groups, for the most accurate information on sales in your area.
Craft an online ad
If you’re selling your car yourself, you’ll need to create an online ad. An enticing online auto ad includes these three elements:
- Clear headline with the make, model, year, and price
- Detailed descriptions of all significant features
- Many high-quality photos and a walk-around video
Aim for maximum transparency. Never hide any damage or downplay any potential problems. For example, if your car sustains hail damage or other bumps and bruises, let buyers know in the ad.
Transparency often works to the buyer’s benefit. Only serious buyers, who are okay with the negative aspects of the car, will contact you.
Remove your personal information
Before selling your car, you’ll need to remove all of your possessions from inside, including your registration and any other documents that contain personal information. However, physical items might not be the extent of what you need to get rid of.
Clear your car’s built-in navigation system, as it likely contains your home address and many other places you frequently visit. Also, cancel any subscriptions related to the vehicle, such as OnStar or satellite radio.
Wrap up
The key to selling your car is determining the best sale method and then preparing appropriately, whether that involves cleaning and repairing your vehicle for a private sale or simply taking it to a pick-and-pull junkyard for a fast cash offer.
You can sell your car quickly, easily, and for a tidy profit with the proper planning.
