Best Tips for Selling a Used Car
So, you’re finally ready to buy a new car. That’s great news! But, there’s just one tiny hitch…you’ve got to sell your old car, first.
Selling a used car probably isn’t as difficult as you may think, if you know a little about the process. Of course, you could always trade in your car at your dealership…but this likely won’t net you much of a profit.
If your used car is in decent condition, there’s no reason why you shouldn’t be able to sell it! It may take some time and research, but trust us: it’ll be worth it, in the end.
To help you out, here at PAACO, we’ve come up with some tips for you! Here are our 8 best tips for selling a used vehicle:
- Do some research into the current market. When you begin the process of selling your vehicle, it’s important to know the market! Start checking the online classifieds to see how much your specific vehicle is going for. This will help you determine how to effectively price your car, so that you sell it quickly and at a fair rate.
- Make sure your car is in tip-top condition. This probably goes without saying, but…when you’re selling your car, it’s important to make sure it’s in good condition! It doesn’t have to be perfect – it is a used car, after all. But, a little effort in this case goes a long way. Take the time to deep-clean both the exterior and interior of your vehicle. Replace old, gross floor mats; fill your tires; make sure everything is mechanically in order; wash and, yes, wax your car until it shines. Remember, aesthetics are a big part of the selling process!
- Put the right price tag on your vehicle. When it comes time to price your car, this is when your research into the market will pay off! And, if you’ve determined a fair price point for your car, it doesn’t hurt to ask for slightly more money. That way, you can be prepared to negotiate with the buyer (this WILL happen!) and come close to the price you deserve.
- Learn where to advertise. It’s well and good to put the correct price on your car, but do you know where to advertise? Scoping out the best places to advertise your vehicle will help ensure that you walk away happy! First, the more places you advertise, the better. When it comes to selling your car, you’ll want to get the word out! Advertise on Facebook, put a sign in your yard, check out Craigslist, go for the more traditional classified ads – whatever you need to do. If you advertise widely, get ready to be inundated with potential buyers! Which brings us to our next point…
- Start meeting with buyers. If you’re receiving cars about your vehicle, it’s time to think about the best ways to meet with potential buyers! First, you may want to screen incoming buyers, especially if you’re getting a ton of calls. For instance, you could opt to show your car to cash buyers, only (or whatever you feel comfortable with). In addition, it’s always best NOT to meet buyers at your home. Instead, plan to meet in a neutral, well-lit area. Parking lots during the day are always a great option.
- One word: negotiate. Negotiating is one of those skills that’s always nice to have, in life. Especially when you’re selling your vehicle! When you’re preparing to meet with potential buyers, get ready to negotiate price. Rarely will a buyer simply ask you what the price is, and be done. Take the time to learn some negotiation tricks of the trade, before you meet with a buyer. This way, you can be assured that you’ll reach an agreement that you’re comfortable with.
- Establish payment options. Once you’ve met with a buyer, you’ve agreed on a fair price, and you’re ready to begin the payment process…how will you enact the actual transaction? There are several ways for a buyer to transfer funds to you. Figure out what you’re most comfortable with, and establish this beforehand. Will you be accepting cash only? Using a wire transfer? Letting the person pay in installments? Regardless of how you decide to accept the funds, one thing is for sure: NEVER, EVER give up your car’s title without getting paid, first.
- Know the ins and outs of the post-sale process. There are a few vital things to know about the post-sale process; you’re not done quite yet! First, when selling a car, don’t forget to cancel your existing insurance. In addition, keep in mind that you’re not responsible for any repairs after the sale has gone through.
If you adhere to these tips, you can be sure that the car-selling process will go smoothly. Doing everything correctly will help give you peace of mind. You’ll also be assured to get the best, most fair price for your vehicle. And, the best part is: once you’re done, you’ll be ready to purchase your brand-new car!
About PAACO: A Mini Overview of Our History & Our Mission
For over 23 years, PAACO has been helping good people get the transportation they need and deserve. We feel that our customers deserve respect, regardless of past credit challenges. Our primary goal is to provide people with a superior customer service experience, and give them the royal treatment they deserve.
At PAACO, we aim to give you the car-buying experience you deserve! We’re here for you, every step of the way. We finance you directly, keeping your best interests in mind, regardless of your credit type or history. All our used car financing is in-house – we do not rely on banks or third parties to provide you with the loan you deserve. Contact us today at 877-810-4555! Here at PAACO, we’re always happy to offer our assistance, and help you get the car you’ve always wanted.