Selling Your Used Car
There are three choices when deciding what to do with your used car. You may sell it outright, trade it in or keep it. If you choose to sell your used car outright, you may receive a higher price but it will require additional work on your part.
Establishing a price
First you must establish a value for your used car. To assist you, used car price guides are available at libraries or book stores. Also check your local newspaper's automotive advertising section for similar vehicles. It will help you set a fair price based on your local market. You may also want to take your car to a couple of used car lots and see how much they'll offer you.
Advertise your used car
Your used car ad should list the year, model and body style, and you might want to include the number of miles, engine size, or color. When writing your ad be honest. Skip the flowery phrases and stick to words that buyers will respond to such as super clean, low mileage, one owner, excellent fuel economy, regular service records, etc. If your used car has any special features such as a car alarm, let people know about them in your ad. The clearer and more honest your ad, the less hassle you'll have in selling.
Prepare your used car
Prepare your vehicle for resale by having the car cleaned and detailed by a professional detail shop. Having your car cleaned gives you an edge over other vehicles in the market. An attractive car can justify a higher selling price. Also do not make any major repairs. Any major mechanical repairs or body work will almost always cost more than the increase in price you'll get for the car. Instead of spending a lot of money, simply be honest and straightforward in your ad for the car.
Respond to inquiries
Once prospective buyers start calling be ready to answer questions. Prepare callers for what to expect when they see the car. Answer questions honestly over the phone. You will save yourself a lot of time and hassle making appoints that will not turn into a sale. Make an appointment with each caller for a specific time, rather than allowing them to come "sometime after work." Making an appointment will increase your chances of the buyers showing up, and if they're late, you don't have to feel obligated to wait for them. Make sure you ask for a phone number preferably a cell phone. Don't be surprised if some of the folks don't show it comes with the territory.
Check title transfer procedures
Consult your state Department of Motor Vehicles to determine what requirements you must follow to transfer the title to the new owner. This process usually consists of your signing and dating the title before you pass it on to the buyer and notifying the DMV of the transaction. Making sure that the title is correctly transferred and the DMV is properly notified will prevent you from being liable for any accidents once the transfer is complete.
Take cash only
Make sure that you always get either cash or a certified check. Do not take any personal checks. If you do not feel comfortable carrying cash you can always go to the bank with the new buyer and make an electronic transfer.