Car Buying Tips & Advice: How to Sell a Car | Edmunds

Car Buying Tips & Advice: How to Sell a Car | Edmunds


SPEAKER 1: In today’s
world of social media and online commerce,
selling your car has never been
easier, even if it seems like a drawn-out process. Here are five easy steps to make
sure you’re getting the most out of selling your car. Number one, research
and price your car. If you want to appeal
to buyers, you first need to set a competitive price. Use automotive
sites, like Edmunds, to appraise your vehicle. Be realistic about your
vehicle’s condition, mileage, and options. Then research similar cars
listed on online classified sites. This will help you refine
your price before you list it. You can also go to a retailer
dealership location that offers a no obligation appraisal. If you’re comfortable
with their offer, you can even sell it to
them right on the spot. Number two, advertise your car. You can list your vehicle
on many of the same sites you used to research
the vehicle in step one. Increase your chances by listing
the vehicle on multiple sites. No matter what site
you use, make sure you include accurate
information about your vehicle that show both the interior
and exterior of the car from multiple angles. Number three, show
your car and yourself. When you’re selling
a vehicle, buyers will not only evaluate
the car, but also the person who owns it. Buyers will feel
more comfortable if they know you took
good care of the car and answer their
questions openly. Make sure the car
has been washed, and that you’ve removed
all your belongings. It’s also a good idea
to have any maintenance records available to show. Any smart buyer will also
want to test drive the car. Ride along with them, so you
can answer any questions. It’s also reasonable for them to
take the car to their mechanic for an independent inspection. Number four, negotiate
your best price. Give the negotiation process
some thought ahead of time, so you won’t be caught
unprepared when the time comes. If the buyer’s offer is well
below your asking price, you’ll have two choices, hold
firm with your asking price or make a counteroffer. An easy counteroffer, of course,
is to meet the buyer halfway. A lot of the time, this
will get the deal done. In some cases, the
buyer might want to have an agreement contingent
on you performing repair work. This can lead to
misunderstandings down the line, so avoid these
type of deals if you can. The best thing to do
is discount the car, so the buyer can handle
any repairs on their own. Number five, finalize the deal. The laws regulating
a private party sale can vary from state
to state, so make sure you’re aware of all
the legal requirements. You can usually find this info
on your local government or DMV website. For payment, insist on a
cashier’s check or cash to close the deal. Once the money is in hand, sign
the title over to the buyer and provide them
with a bill of sale. Finally, remember to contact– [PHONE RINGING] –your insurance agent– SPEAKER 2: Hello. SPEAKER 1: –to cancel
the vehicle’s policy. You can learn more tips about
selling your car by visiting Edmunds.com/sell-car.

About the Author: Michael Flood

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