Is Selling A Car Easy?

Why is It So Hard To Sell A Car?

Once you put your vehicle up for sale buyers will be knocking on your door to be first in line. A few test drives and before you know it you’ll make a deal and walk away with cash in hand. Then you wake up.

If you prefer selling your car or truck privately. Here are a few things and more you should know about the process. It may seem to sell a car privately sounds like a good idea. But often it comes with more hassles than you initially bargained for. People call on the phone and ask you what your best price is even though you have a price listed. They don't want to make an offer and if your best price isn't low enough you won't hear back from them anyway. Some don’t have the funds to buy the car without making payments or they're waiting for an insurance settlement. You definitely have to think about what your time is worth. No wonder most people prefer to sell their vehicles to a dealer.

Get Ready To Show Your Car

When selling your car “as is” the offers you receive will be reflective of its condition. It always pays to spend some time getting your vehicle ready for public viewing. You can wash and detail your car yourself or have it done professionally. The benefit of having your car detailed professionally is that it can be done quickly with little to no effort on your part by a professional auto detailer. You can have the car detailed at your home or in the parking lot at work. If you can, remove small scrapes, scratches, and dings. Replace burnt-out bulbs and fuses, and ensure that all items, including audio and navigation systems, are in working order. At this time have all overdue maintenance work done. The most important is, oil, battery, and air filters. Check that the battery, hoses, belts, brakes, suspension, and other components are in top order. Provide copies of your repair invoices if available. Offer a comparable vehicle history report to show to buyers that your car is in good condition.

How Much Is Your Car Worth?

Have you been thinking "what is my car worth?" There are several online tools to help you decide the value of your vehicle. You can try websites like Kelley Blue Book or Edmunds that will give you guidance on what your car is worth. You’ll get three prices, including a trade-in, private party, and retail value. Services like CARFAX Vehicle History Reports take your vehicle’s history into account. Not only will Carfax show your vehicle's history but also give you a value based on it.  It's also a good idea to go on Craigslist and look for vehicles similar in make, model, year, miles, and condition to get an idea of what other owners are asking for the same vehicle.

Now that you have an idea of your car's true value, you need to decide the lowest number you would sell it for. You will not display or share this number — it is the lowest price you’re willing to accept for your vehicle. Pricing your car or truck isn't easy but with the tools we mentioned above, you should be able to get a pretty good idea. When you decide upon a price, avoid round numbers like $8,000. Choose $7,995 instead because it sounds better to car buyers. Most automotive retailers use this pricing strategy for one reason, it gives the impression of a lower price. Most of the time you get paid the five-dollar difference anyway.

Marketing Your Car

Craigslist and eBay are popular places 

to market a vehicle. You might consider newspapers, but more buyers can be found online.  It is important to follow the terms of use for any online site, including any fees or commissions that will be charged.

When creating an advertisement, offer complete details about your car. The more details you supply, the better. You should include the make, model, and year of the vehicle. Also include its mileage, trim level, and special options. Make sure to include features such as navigation, rearview camera, and parking sensors as they will help you get more money for your car.

Include as many photos as allowed, including interior, exterior, under the hood, trunk, and cargo area. Make sure to include your terms of sale and forms of payment accepted upfront. Review your competitor's ads for additional ideas on how to create yours. Make sure to include your phone number and or email address.

Displaying Your Vehicle

Only negotiate with buyers who express a real interest in your vehicle. Ask them if they are financially ready to make a deal that day. There is nothing worse than having to show your vehicle over and over again to potential buyers who aren't ready to purchase your vehicle that day. It's pretty standard that if the person doesn't buy your car that day you will most likely never see them again.

When showing your vehicle negotiating will start immediately. A buyer’s offer will most likely be far lower than your asking price. If you feel that you’re being lowballed, don't be afraid to say so. When they make an offer that is within your selling range, counter with a higher price. If both parties are flexible, then a deal may be reached. Remember "A bird in the hand is worth two in the bush."

The buyer may want to have a mechanic inspect the vehicle before making their decision. This usually doesn't work in your favor. The mechanic may find a problem('s) leading to the buyer expecting a lower purchase price. If you do decide to let their mechanic inspect the vehicle make sure it's at their cost.  If not OK with the inspection then show copies of the repair records and a CARFAX Report. Explain that the vehicle is being sold “as is” without warranties of any kind.

After you receive payment, clean out the car including personal documents and insurance cards.

Last But Not Least

After you've been paid. Make sure to cancel any ads about the sold vehicle to keep from getting any further phone calls.

You may need to file certain Department of Motor Vehicles (DMV) documents, depending on your location. Also, you may be required to turn in your vehicle’s license plates to the State DMV. Make sure to transfer the vehicle's title into the new owner's name. This should release your liability in the vehicle at the same time. Releasing your liability in the vehicle is very important. Doing so will keep you from having to pay for any parking tickets that the new owner may get before registering the vehicle in their name. Also if the new owner doesn't assume liability by registering the car in their name, then get into a hit ad run accident. You will be held liable for any damages or injuries resulting from the accident.

Lastly, contact your insurance company to ensure coverage is discontinued after the new owner leaves with the vehicle. At the same time review your policy to ensure it meets your current needs.