Whether it’s an upgrade or a wheel change, how should you prepare to sell a car and sell your car to a dealership?
You might be wondering how to sell your car if you are moving to another city, need to raise funds, or want to replace it with a new and better car, possibly alongside a new car loan. Selling a car can take some effort, and you’ll want to get the best price possible.
Trading in or selling your car at a dealership with a car buying company, usually a division of a car dealership, can be the quickest and most convenient option. However, selling to a dealership can end up making you as little money as possible for your car if you trade it in. Dealers usually buy your car for a lower price and then sell it for a higher price, often after a thorough mechanical and visual inspection, and with a legal warranty.
While often practical, it may not be the best option if you are looking to maximize the value of your car. Alternatively, you can try to sell your car on your own.
How to prepare to sell your car?
Before you start selling, you need to be prepared to sell your car. The first step is to prepare all your documents. You should also prepare your vehicle to maximize its appeal before you put it on the market. Consider hiring an expert to help you with the process. Appearance is the number one way to attract customers to your car, so present a clean and shiny vehicle to potential buyers.
You can have your car cleaned by a professional. If you choose to clean it yourself, be sure to clean any hard-to-reach places, such as the door and trunk openings, as well as the engine compartment. Never leave anything strewn inside or in the trunk of your automobile that would make it appear messy to a potential buyer. Loose objects can shake and bang during a test drive, leaving a bad impression.
How to invoice your car?
Getting the right price is important in finding buyers and also getting a good amount of money from the sale. If you advertise your car for sale but mention too high a price expectation, you will waste precious time waiting for the phone to ring. On the other hand, if you set a price too low, your car may go quickly, but you will have less money than you could. Avoid these pitfalls by checking current listings of cars similar to yours in your area.
Do your research and highlight the best features of your car in the pictures and description when you list it. If your vehicle appears to be in similar condition to other listings, you may want to price it a bit lower to show up in searches.
How to find buyers?
There are different ways to find buyers. You can consider placing an ad in a newspaper or online. This way you can set your price and choose the buyer. However, you have to deal with no-shows, manage test drives for different prospects, etc. Many buyers can also negotiate the price.
Another effective method could be to participate in an auction. You will need to pay an entrance fee and also reimburse a fee if your sale is successful. This can work as a way to sell your call quickly and without negotiations, but may not get you the best price for your car. If you trade in your car at a dealership, you might not get the best price, but you won’t have to spend a lot of time on the sales process. You may need to pay the broker a service charge for this installation.
What Happens When You Sell a Car?
Once the transaction is complete and you receive a deposit, issue a receipt to the buyer. Make sure that you and the purchaser both fill out your information and sign the Transfer of Registration and Notice of Disposition on the back of the Certificate of Registration. You keep the notice of disposition slip and offer the transfer of registration to the purchaser. If the car is still covered by a manufacturer’s or dealer’s warranty, provide copies of the documents. Remember to give the spare keys, accessories, owner’s manual and logbook or service book to the new owner.