Tips & Trends

Are you looking to sell your car?  Are you close to trading it in to a dealership just to avoid the hassle and work of selling it yourself?  Before you make a decision that may cost you the opportunity to make up to an additional $2,000 on the sale of your car, consider these suggestions on how to get the most for your money and beat the frustration of selling your car with "old fashioned" newspaper classifieds.   

Why sell your car instead of trading it in?

It's simple - to boost your profit.  Sell it yourself, and you get a higher value out of your car.

Depending on the age and condition of your car, you can pocket an extra $1,000 to $2,000 or more.  If you have a late-model vehicle, you stand to make much more.  Just think of it as cutting out middleman. If you trade in your car, the dealer has to pay to clean it, advertise it and sell it…all while making a comfortable profit.  Your lower trade-in reflects that.

Besides, with today's online resources, sites such as AutoTrader.com make selling your car easier than ever. The site provides you with the tools and tips you need to price your car competitively, create an ad for your car and sell your car quickly.  It's all possible because the Internet allows you to reach more buyers in your area—and even across the country!

What do you need to do to prepare your vehicle for sale?

To ensure you get the most money for your vehicle make sure it looks its best.  It may seem obvious to wash and wax your car, but doing a complete detail both inside and out will really make your auto shine.   Would you buy a car that didn’t stand out when you drive up?  I wouldn’t.  So, don’t give the impression you didn’t take care of your car. Here is a list of things you can do to improve your car’s appearance to get it ready for selling:

• Wash, wax and vacuum your car.
• Wipe down the dashboard and other surfaces.
• Gloss up the tires and polish the wheels.
• Clean all glass inside and out, including mirrors.
• Clean out any junk from inside your car and the trunk.
• Replace any burnt lights or fuses.
• Top off the fluids.

Also, remember, as a seller, it is not only important to make sure your car looks good, it's also just as important to let your shoppers know how well your car was maintained.  Visit a mechanic to fix little items you've ignored, get the oil changed and have the belts and hoses checked.  Provide a maintenance log with all of your receipts and oil changes—you'll be surprised just how powerful a selling tool this can be for your automobile.  If there is a major repair job that needs to be done, and this is the reason for the sale, be honest and up front with prospective buyers and figure the cost in to your asking price.

One last thing, take all your personal items out of the car, not just the change in the center console, but all the junk in the trunk, papers in the glove box and center console.  The closer the car looks to new, the more you will convince potential buyers they are making the right decision by purchasing your car.

Get all your paperwork in order. 

As a seller, be certain you have the title to the car.  If there is a lien and you have the release, make sure to have that on hand as well.  And, just like a maintenance log, an ownership history document is another item that will help put buyers at ease.  Potential buyers are usually most concerned about whether or not the vehicle has been in an accident.   A vehicle report such as a CarFax History Report can be easily purchased online and service as an unbiased document substantiating the history of the vehicle.

List the Car Online 

Once you have done all the necessary vehicle preparation, you're ready to list your car for sale!  Gone are the days of small, hard-to-read, newspaper classifieds.  Instead, use a website like AutoTrader.com to quickly and easily list your vehicle for sale.  The site provides you an opportunity to reach prospective buyers beyond the confines of your local community and also provides an opportunity to really showcase your car with multiple pictures and enough space for descriptive copy points about your car.  In addition, AutoTrader.com has a variety of advertising packages to choose from—so you can select the one that's right for you! 

Once you've selected your advertising package, take good, clear pictures of the exterior and interior of the vehicle.  Write vivid and detailed copy about the car using phrases such as, "Like-new leather interior," "smooth shifting transition," "Only 50,000 miles, primarily highway."  And, be certain to set a fair price for the vehicle.  You can do this on AutoTrader.com also by simply searching the site for make and model vehicles for sale, like yours, in your surrounding area.

How do you conduct a test drive with a prospective buyer safely?

I've sold many cars from my driveway over the years, and even have let people take my cars for a test drive.  These days, however, the criminal mind is never at rest and you want to make sure you actually sell your car and that it is not just taken for a "joy ride."

Let's explore safety issues when selling a vehicle.  First, be sure to find a safe place to sell the car.  Don't meet the potential buyer at your house.  Instead, suggest a place where you can meet in public.  Bring a friend along with you.  Rather than listing your home phone number in the ad, provide your cell phone or office number.

We always assume we are dealing with honest people, but would you get in the car with a total stranger and go for a ride?  Well, you are doing just that if you let a stranger drive your car while you sit in the passenger or back seat.

The safest way to offer a test drive is first to meet them at work or the shop where you get your vehicle serviced.  This way if there is a question or the buyer wants to have the car checked out there is a technician that can offer advice. 

Ladies, we have to be aware that we aren’t just tossing the keys to a total stranger.  Make sure to have a friend help you and be a witness as well. 

There have been cases where potential buyers ask for a test drive and then take off and you never see your auto again.  Even worse, the car they came in was stolen.  Yes – this is rare, but safety and protecting yourself and your investment is paramount.

Remember, these tips also apply when you are the prospective buyer and it comes time for you to go test drive a private sale vehicle.  Bring a friend; they may even notice something about the vehicle you overlooked in your excitement to find the right ride.

Once you've agreed on a price…

Be sure to get a deposit and offer a receipt.  It's best to meet at your bank or credit union to complete the sale.  This will allow a financial institution to confirm the funds and notarize any necessary documents.  If you receive cash, this will be a safer place to make the exchange as well.

Be careful of cashier's checks, unless they are certified.  This is also true with money orders, because scam artists can cancel them after you give your car to them—yet another reason why making the transaction at a bank is the safest choice.

Details, details, details are the secret to getting the most for your car, but with just a little hard work, combined with the right advertising tools, it's easier now than ever before to sell your car on your own and reap the monetary reward for time well spent!

"Lauren's Guide to Loving Your Car!" with St. Martin Press will be available Spring 2008.