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Automotive Repair and Review Articles
While driving your car for several years is a great way to save money, you'll eventually want to get rid of it. At some point, you'll want to replace it with another vehicle that is better-equipped, more reliable, or even more fuel efficient. You can either use it as a trade-in when buying another car from a dealer or sell it yourself. Trading it in is less effort, but you'll probably get a better price by selling it. Below, I'll take you through the basic steps of selling your used car.
Set A Realistic Price
You'll need to identify how much your car is worth on the market. First, ask a local dealership how much they'll offer you for the car. Once you know the figure, use it as your price floor. It's the least amount of money you should accept. Next, find out what dealers are charging other buyers for your make and model. Unless your car has extremely low mileage or an overhauled transmission, the dealer price will represent your ceiling.
Finally, check through your local paper (check online, too) to see how much your car is selling for in your area. Then, identify the lowest amount that you'd be willing to accept from a buyer and add a small markup. That way, you'll have a bit of room to negotiate.
Getting The Word Out
You may need to do little more than telling friends and family that you're selling your car. Often, someone you know will either want to buy it or they'll know someone else who will. Consider placing ads online, too. You can use eBay, Cars.com, and Yahoo Autos to attract prospective buyers in your area.
Plus, don't neglect the proven strategy of leaving your car parked near a busy intersection with a "For Sale" sign on the window. The key details that passersby want to know at a glance are your car's year, mileage, whether it has air conditioning, and the type of stereo system. And, of course, leave your phone number or email address so interested buyers can contact you.
Documentation
The type of documents you'll need in order to sell your car is largely dependent upon the state in which you live. Every state has their own way of handling private party vehicle sales. Some states require you to submit a "Transfer Of Title" document. Others allow you to write down the mileage and sign the owner's certificate. Also, most buyers will want you to provide a bill of sale that documents the transaction.
A lot of people consider the process of selling their used car to be too high-maintenance. For them, trading it in toward the purchase of another car is a better solution. However, if you're willing to spend the time and put in the effort, you'll be rewarded with a higher price for your car than a dealer will offer you. And that can provide a hefty boost to your budget.