Some of these are a no brainer but you would be surprised how some people turn their cars in for a sale or trade and probably left money on the table because of it (even in today’s crazy market).
First thing’s first.
Find out what other like cars are selling for in your market.
Market = the same geographical area (If you live in N.Y. don’t compare to vehicles in California, etc.) Make sure you are basing your vehicle’s worth on like vehicles that have sold in your area as well as the asking price amounts. Just because you think your vehicle is worth something does not mean that is what they are bringing in the current market.
Of course if you have an exotic or classic vehicle this rule will be more lenient due to the less comps and higher demand.
#2 Comparables
Try to find vehicles as similar as possible to your current vehicle. They should be the same make, model, mileage, condition, options, number of owners, carafax reports ( accidents/no accidents) and even color can make a big difference in particular makes and models.
This is the best way to come to the most accurate value of your current vehicle so be sure to try to find comparables as close to these characteristics as possible.
#3 First Impression
Please, please, please clean your vehicle before you take photos, get in person quotes or park for sale. I would splurge and get a professional detail to make sure it is looking and smelling as good as possible. The better it looks and is cared for the more money you will get.
This is one of the easiest things to do and it doesn’t take that much work so be sure to have it as clean as possible before you show it.
#4 Overall
Be aware if your vehicle needs tires, paint work, maintenance or anything that may have been neglected during your ownership. This way you will know what to expect for credits the buyer may want. You can also put some decent used or new tires on if it reflects a higher price point.
Know what it costs to make the vehicle right if it has flaws so you can add and deduct from the price. Sometimes it’s worth getting things done and getting more money for the vehicle vs. selling it as-is and taking less.
Getting a clear picture with the research and comparables will help you make a decision on what will get you the most money and if it is worth your time.
#5 Paperwork
Have your service records, repairs, replacements, warranties and any other helpful paperwork in order for any potential buyer. This gives you an advantage and can help you get top dollar if you are organized and have done extensive work on your vehicle. It also helps to have a current carfax report with all the detailed information.
Print yourself out a For Sale Sign, Motor Vehicle Bill of Sale and As-Is document to release you from certain liabilities.
This will give you everything you need to have a successful top offer for your current vehicle.
Happy Selling!
Lori
CEO & Founder
TitleKeyCash.com & Girls Guide to Car Buying
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