Selling a Used Car

Everybody knows you’ll make more money if you can bother pulling yourself together and selling your car yourself instead of taking the easy way out and driving it into the dealer and saying “whatever, take it and let’s get me a new, shiny one.”

We want you to muster a little effort here. Try. You won’t find anybody in the known universe who will dispute the monetary reward. So, before you do, this might get you in the mood; according to consumernet.com even if your car is less than 4 years old, the dealer will give you at least $3000 less than you can get selling it privately. If it’s over 4 years old, he’ll give you about a quarter of what you could sell it for yourself.

Thing No 1

Find out the market value.

Go to kbb.com and offer printed copies to buyers as well as printouts from car pricing sites edmunds.com or consumer reports. Take a look at similar cars being sold privately in the event that it supports your price but don’t rely on other sellers to know how to price the car.

Thing No 2

Even if the dealer says he’s giving you full market value…he isn’t.

He’s making it up somewhere else. This is more of that shell game that we have discussed in: www.5things.com/car/buy

Thing No 3

Preempt the fear.

Order your own CARFAX Vehicle History Report for $24.99 and provide a free copy with the car. If you have been so organized as to have saved all your maintenance records including regular oil changes (yeah, right) then by all means, put them in a nice little binder and offer it up. This will give buyers the illusion that a neat, upstanding citizen who keeps things in binders previously owned their new car. Instead of you.

Thing No 4

Give it one last dose of love.

This will make a huge difference in how the potential buyer feels about the car in the first impression. Get it detailed. And, get those niggling little things that you’ve overlooked for years – like the left turn signal that’s stuck – fixed. Make sure the tires are in decent shape and are properly inflated. People are going to picture themselves in that car and they want a nice picture. Body work is a big one. We guarantee that you will pay less to get it fixed than the amount that the buyer will negotiate off the price if you don’t. That is, if they buy it.

Thing No 5

Advertise on the web.

Forget about the newspaper. Nobody will call. Everybody goes online to type in what they’re looking for. Web sites for local newspapers are fine but make it electronic. It’s cheaper. It stays up longer. And more people use it. You can also use autotrader.com or recycler.com. Definitely post a photo of the vehicle and if possible, post the CARFAX report. Do not use the expression “Or Best Offer,” instead; refer to the price as “firm.” You can decide if you want to take the best offer you get on your own. You should plan to spend about $100 to advertise the car before it’s all over.