If it’s time to sell your vehicle, then you might be considering selling it yourself. If you are, then you should be aware of a few best practices that will ensure that you get the best price and don’t get scammed. But there are other steps to selling a car in a private sale. So that you are certain that you’re doing everything to attract the right buyers, you’ll also want to find the best ways to advertise your vehicle and screen callers. So here are seven tips to selling a vehicle yourself.
1. Find out What the Car is Worth
One of the first things you’ll want to do is figure out how much your vehicle is worth. As a general guide, there are several resources. Kelley Blue Book is a very popular resource for finding the general value of a car for its age. So are Auto Trader and NADA guides. Also, take into consideration the demand for you type of vehicle. For instance, if its a collector’s car, you might have to wait for the right buyer, but a truck or commercial van is always in demand. You’ll also want to take into consideration the wear on the car and whether or not you’ve had any damage to the vehicle such as an accident.
2. Gather Paperwork
To ensure that you are not liable for any damage that the vehicle incurs after you make the sale, you need to gather As-Is Forms and a Release of Liability form. These will protect you from any misunderstandings. The title and a Bill of Sale form will also be necessary to finish the transaction legally.
3. Get the Vehicle Ready
You will want to make sure that the vehicle is as clean as it can be by washing the inside and out of it. Also, make sure that you don’t have any brake dust rust or other damage that can be easily remedied.
4. List the Vehicle
There are several places that you can list your vehicle online. eBay Motors, Craigslist, and Cars.com are all places that can help you get the word out on your vehicle. You will also want to put up pictures of the vehicle after you have cleaned it. Also, in the online listing, there are a few things that you will want to make sure that you include. Things like mileage, asking price, and recent repairs are all things that a potential buyer will want to know.
5. Clarify Any Questions With Potential Buyers
When you receive emails or text messages from potential buyers, they will likely have questions about the vehicle. Be open to telling them, to the best of your knowledge, any previous issues that you’ve had with the vehicle. You’ll also want to know if the buyer is in the area. Also, make sure that they know which forms of payment that you find acceptable, and don’t accept monthly payments; you’ll have difficulties tracking their payment down if they don’t pay.
6. Figure Out a Sale Price
The final sale price will be a combination of what you find acceptable and what they find acceptable. Many buyers will try to talk you down from your asking price, and this is common and acceptable practice when you’re selling a car. So you should start slightly higher that what you would like to get. But you should also have a price in mind that you’re not willing to go below, and you should stick with it.
7. Complete the Sale
Once you have made a deal, you’ll need to make sure that whatever form of payment that they’re using is good. Cash works fine, but if you accept it, have a counterfeit pen ready because counterfeit money is still made. Also, don’t accept a check because you don’t know that it won’t bounce. You’ll also need to sign over the title, give warranty documents, fill out the bill of sale, and any additional paperwork that might be required.
Selling a vehicle can be fairly simple if you find the right buyer and have your paperwork in order. If you’re ever feeling uncomfortable about a buyer, their method of payment, or a request that really is unreasonable, trust your intuition and check it out.