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How to sell your used car in 8 steps Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by offering you interactive tools and financial calculators as well as publishing objective and unique content. We also allow users to conduct research and compare information for free - so that you can make informed financial decisions. Bankrate has partnerships with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that are advertised on this site are from companies that compensate us. This compensation could affect how and when products are featured on the site, such as, for example, the order in which they may be listed within the categories of listing and other categories, unless prohibited by law for our mortgage home equity, mortgage and other home lending products. However, this compensation will not influence the information we publish, or the reviews that you see on this site. We do not cover the universe of companies or financial offerings that could be accessible to you.



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JGI/Jamie Grill/Getty Images
5 minutes read. Published 27 February 2023
Written by Allison Martin Written by

Allison Martin's career began more than 10 years prior to that as a digital content strategist. She's been published in several leading financial media outlets such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are dedicated to helping their readers feel confident to take control of their finances with clear, well-researched information that breaks down complicated subjects into digestible chunks.









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The demand for used cars is high due to a . Though that shortage is easing and may even close this year, many auto makers continue to make fewer cars than they typically produce. This means that dealers have less inventory. It's good news, however in the event that you happen to be selling your used car since you're likely to be able to find plenty of potential buyers. Before you place an ad on the internet, there are some steps to take to make sure you receive the highest price for your car. 8 steps to sell your used car When selling an asset that is as important as a car, you'll want to get the best price possible. Clean your vehicle prior to listing it for sale. Also, you should take time to find the right sales price and know how to bargain efficiently. 1. Pick the method you prefer to sell your car There are three ways to sell your vehicle: Trade it in: only is it possible to buy a car from the dealership . It's convenient since it doesn't require you to advertise the vehicle to potential buyers. The downside is you probably will not receive as much from it as you would at an auction. A private sale will generally receive more when you sell it yourself. But you'll have to do the legwork to find the perfect buyer and negotiate a fair selling price. Dealership: A lot of dealerships offer a no-cost and no-obligation cash deal for your vehicle. It's fast and simple and you'll get an agreed-upon time frame to decide whether to redeem it. Car buying websites: like Shift and AutoNation will make an offer on your car in just a few minutes. You'll provide some required information about the vehicle's make, model, color and mileage. It is also necessary to upload pictures. These companies provide cash quickly for your car, however they usually charge service fees which eat away at your profit. 2. Get the required documents aren't able to sell your vehicle to a private or dealer party unless you've got these documents on hand: Paperwork from the original purchase of your vehicle. The title to the vehicle. Any service records available. If you're not able to find any of these documents wait until you have them on hand to be able to sell your car. Otherwise, you could have issues trying to close the deal. It's also recommended to have documentation from the emissions test accessible if you reside in a state where these tests are mandatory. If there are warranties that still remain on vehicles, having the paperwork in your possession is crucial. You could even get more for a vehicle that is insured by the warranty. 3. Get your car ready for auction When you've made a decision on how you want you'll sell your car and have gathered all the documentation, now is the time to prepare it for the market. In the ideal scenario, you'll want to clean up the exterior and interior of your vehicle to give it a shine potential buyers. Make sure your vehicle is professionally cleaned or spend time vacuuming and shampooing your carpets, washing the mirrors as well as washing the exterior. applying wax if necessary and making your tires shine. Also, take your vehicle to the shop for an oil change. If your brakes or tires are coming to the final stage of their service It's the right time to have them replaced. It is recommended that the mechanic change out any lights that are burned out and windshield wipers that don't perform as they should. Plan to fix damaged windshields, scratches, or scratches. Bankrate tip
Cleaning your car's exterior and making important cosmetic repairs is like staging a house to sell. The appearance of your car is crucial and can result in more money. Many people don't want to purchase a car peppered with scrapes or dents or an unclean interior.


4. Choose the appropriate price for the sale If you are planning to sell your car to a private event , . A figure that's too high may make potential buyers turn away, and selling for a low price could result in you receiving less than you should. So, you want to be sure you price the car right and leave a bit of wiggle room for negotiations. There are a variety of tools to determine . Make use of to use the " " feature in Kelley Blue Book or refer to Edmunds to get an idea of the value of your car. Also, you can utilize Autotrader or refer to classified ads to look for similar ads in your neighborhood. 5. Get the word out Tell everyone in your network that you're selling your vehicle and ask for them to spread the word. You can also make a post on social media sites or advertise on websites with an online marketplace for used carslike Autotrader, Kelley Blue Book or Cars.com or in the local newspaper. When creating your advertisement, include photos that capture different angles of the car's exterior, interior, and what it looks like underneath the under the hood. The ad should also mention the year, year of manufacture and model of the vehicle and its condition at the time of writing as well as the price it is asking for and acceptable payment options. Additionally, you should include any things that help it stand out, like an extended warranty, fuel-efficiency rating or heated seats and the reason you wish to sell the vehicle. 6. Come ready to negotiate To be prepared for negotiation, regardless of whether you're selling privately or to a dealership, take your car to a few dealers and obtain offers. Make use of the information you found researching your car's value through websites like Kelley Blue Book or Edmunds to guide your negotiations with potential buyers. You'll need to go to an agreement with lowest price that you can accept in your mind and be prepared to make a counter offer. Begin the conversation by letting the potential buyer give you an amount. If it's a good number then you have to decide whether you'd like to ask for more or move ahead with the purchase. If the price isn't enough, you can try to counter with a price that is higher than the amount you're willing to accept. Be prepared to leave if you cannot reach a fair deal with the other side. 7. Be smart and safe when selling your vehicle. Security is of paramount importance when it comes to arranging selling your vehicle with a private party. The seller might want to pay cash. S suggest they use a contactless payment processor, like PayPal instead. A cashier's check is another viable option. The check will clear because the funds are immediately withdrawn out of the purchaser's bank account when the check is issued. If the potential buyer wants to test drive the vehicle before agreeing to purchase your car, call your insurer to ensure that you will be protected in the event that you are involved in an accident. Additionally, choose a well-populated location and agree to a route before it begins. It is also possible to bring someone else with you for extra safety. 8. Make the sale official At finally, you have discovered the ideal buyer and are now eager to complete the transaction. However, before you can officially close the deal, you must visit the DMV office in the area (Department of Motor Vehicles) together with the buyer to transfer the title of the vehicle over to the next owner. Remember that this procedure is different in every state. Some may require evidence of passing the inspection or to contact the tax assessor's office in your county. The rules applicable to your state at . The next steps are based on whether you want to earn some extra cash or swap your car to buy a new one, these suggestions can help you earn top dollar for your ride. But, a private sale is probably the best way to maximize your profits. Make sure you get several valuations prior to listing your ride in order to ensure that it's priced correctly and sells in record time.


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Written by

Allison Martin's career started over 10 years ago as a digital media strategist. Since then, she's been published in several leading financial publications including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.



Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are committed to helping readers gain confidence to manage their finances by providing precise, well-researched and well-researched content that break down complex topics into manageable bites.






Auto loans editor




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