How To Clean Up When Its Time To Sell Your Car

Written by David M. Grice    Friday, 13 February 2009

Sure, you can put a "For Sale" sign in the window of your car and hope for the best, but why not take advantage of the resource sitting on your desk? Your PC can easily help you determine the real value of your car and connect with potential buyers. Determine the value: Today, the Internet provides you more information than ever before to help determine the value of your vehicle. A good place to start is with the electronic versions of those old reliables, the Kelley Blue Book (kbb.com) and the National Automobile Dealers Association Guides (nadaguides.com). It also helps to check classified advertising listings for cars of the same make and model as yours to see how much they are selling for in your area. Things like location, season, and gas prices can affect an automobile's value just as the vehicle's upkeep does. This price information can also be found online at sites such as Cars.com and Carmax.com. Sell or trade? The old wisdom still applies here: You'll probably get more for your car if you sell it yourself, but that will also take more of your time and energy. Internet classified ads can make it easier to get your message out there. A free Web ad posted on Craigslist.com, for which there are regional sites for major American cities, could draw as many potential shoppers as a classified ad in a local newspaper. And be sure your ad's language indicates your willingness to negotiate. A "firm" price means no wiggle room, "starting" or "asking" means you'll haggle, and "or best offer" (OBO) means you'll entertain all options. When trading a car, don't forget to consider an advantage this option offers: Trading the car to a dealership will lower your new car's purchase price and thus also lower the tax you'll have to pay on that car. Fix it up: A good wash and shine certainly won't hurt the sale price of your car. But also consider whether it's worthwhile to fix up those dings, replace that chipped windshield, or buy a new set of tires. While any such investment would obviously reduce your profit, it could speed the sale of the car, particularly if you're selling it yourself. Having a copy of your car's Carfax.com report and a recent mechanic's tuneup can also expedite the process. Sign on the dotted line: Paperwork is important, as it reduces your potential liability for what happens with the vehicle after you and its new owner swap keys and cash. Check the website of your state's department of motor vehicles to make sure that you have properly transferred all of the appropriate papers, such as the title.

Last Updated ( Friday, 13 February 2009 )