Community 1st Credit Union CUDL AutoSMART Magazine
Seven Smart Steps for Selling Your Car

Spring is the time for hitting the open road, feeling the sun on your face and the breeze in your hair. Maybe it’s time for that hot little convertible sports car you’ve always dreamed of. If so, for many people, the first step in buying a new car is selling their old one. You can trade it in at the dealership, but there’s no guarantee that you will get top dollar through this transaction. That’s why the popular choice for most is to sell the car yourself. Because this can be a daunting process, we’ve provided a handy guide for selling your car.

Evaluate Your Vehicle
Let’s face it, consumers can be fickle. What was once the rage goes quickly out of vogue. Be brutally honest with yourself about the popularity and desirability of the make and model car you want to sell. Take the time to find a fair price for your car by going to #autosmartURL# and looking in the Research section. Only then will you know where and how to market your vehicle, as well as gain realistic expectations of how much money you can get from the sale of your car.

Determine Your Asking Price
Doing a little homework is your first step in deciding your asking price. Spending a Sunday afternoon scouring the classifieds for comparable vehicles or clicking onto used car websites over several evenings are valuable tools to determine the going rate for your make and model of car. Once you have a range of prices for your particular model and year of car, you’ll need to factor in the mileage and condition as well as any special features. Also remember to boost your figure by a few hundred dollars. That cushion will provide a bit of negotiating room between you and potential buyers.

Decide Where to Sell
Tried-and-true methods for selling a used car include hanging a “for sale” sign in the vehicle, buying a classified ad in the local newspaper; posting a sign on neighborhood bulletin boards, and trading in the car at a nearby car dealership. All those traditional approaches will have varying degrees of success — all of those methods inherently include an investment of time and energy. There are also some non-traditional ways to sell a used car. With the popularity of the Internet, you can now find sites that will assist you in a variety of ways to sell your vehicle.

Detail Your Vehicle
Your investment in a little car maintenance and cleanup can reap big dividends when selling a car. Some cosmetic changes can make the difference in making a great first impression on potential car buyers, and can vastly improve your chances of getting your asking price. Remember to wash and wax the car, clean the carpet and upholstery, shine the tires and hubcaps, and hang up an air freshener. It is helpful if all the car’s service and parts records are in a folder in the glove compartment and consider taking your car in to your regular mechanic to have them provide a statement of condition or diagnostic results.

Be a Savvy Seller
Anticipating a potential buyer’s questions about your vehicle is one way to build confidence in your honesty. Buyers looking for a certain make or model will likely have done some research on the going price of similar cars. Because of that, you should do your homework too. Spend some time online or reading the local classified ads comparing the same year make and models. If, for example, your asking price is significantly higher than the price of like models, it makes sense to have ready reasons to support your higher asking price. Special features, perfect maintenance records, and newly upgraded or replaced major engine parts are all logical explanations of a higher price — just be sure that you can justify your answers with receipts.

Close the Deal
Only you can decide how payment will be made: by personal check, cash only, or cashier’s check. It is always good form to mention your payment preference while setting up an appointment to see the car. In that way, if the buyer simply falls in love with your car on the spot, you will be able to finalize the transaction quickly without any time lapse, confusion or embarrassment on the part of either party. Any negotiations should take place at this time. Know beforehand what your bottom line amount is and don’t panic and settle for a ridiculously low amount.

Sign on the Dotted Line
Before undertaking the sale of any vehicle, learn what your state’s requirements are for title transfer, smog certification, and possibly an odometer reading statement prior to advertising your car for sale. If there is any question as to the validity of any paperwork pertaining to your vehicle, a trip to the local Department of Motor Vehicles may be in order to have clear proof of ownership within arm’s reach. In many states, both the seller and the new buyer have responsibilities during and after the transfer of a vehicle.

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