How to Sell a Car
TFC Title Loans has been helping customers with Car Title Loans since 1994. We assess the values of our customers cars in order to determine their car loan. While we don’t sell cars, we want our customers to get the best prices for their cars when they decide to sell them. Here are some guidelines to follow when selling your car.
Know the Market
Before you try to sell your car, figure out the type of market you are going into. It will depend on your car versus the demand.
- Family sedans are always in demand. They help get people from place to place, and shopping in a private market usually can get those people a great deal.
- Convertibles and sports cars tend to be seasonal. When it’s sunny and nice out, people are motivated to buy nice cars. During the winter and fall when it’s cold, they don’t want to buy a car they can’t drive for another season.
- Trucks and vans are a steady but competitive market. Don’t waiver too much on the price negotiations.
- Collector cars will be a harder market to sell. You will have to search for specific places to sell them like showcases or websites, but when you do find the right buyer it will be an unexpected price.
Check local classified ads and keep note of the year, condition, location, and mileage to how much they price it.
To price your car correctly and fair, try using an online appraisal took like Edmunds or Kelley Blue Book. This could give you a ballpark range of what your car is worth. Ultimately, you’ll have to go with your intuition because you know how it runs under the hood. When pricing, ask for slightly more than what you are willing to accept. It gives you wiggle room when offers try negotiating lower.
You want your car to look its best, so put a little more detail into your car than you normally do.
- Wash and vacuum, maybe get it detailed if there are any stains
- Make sure it’s mechanically sound and there aren’t any major dents or scrapes
- Consider low cost repairs that could make selling the car “as is” easier
- Clear out any junk that may “personalize” your car
- Wipe off brake dust and treat tires
- Clean windows and mirrored surfaces
- Wipe down the dashboard and cup holders/ashtrays
- Have all the maintenance records on hand
- Take care of routine servicing and oil changes
Post your car places that you’ll see the most traffic. Be ready to take calls and texts since this will be your main form of communication with buyers.
- Websites: AutoTrader.com, Craigslist.com, and eBay Classifieds
- Social media: Use social media to let your friends know you’re selling and to share it with their contacts
- Peer-to-peer sites: Beepi, Carvana, Tred, and Zipflip
- Message boards: car forums have classified sections to list cars
- Word of mouth: Tell your friends, family, and co-workers, and make them tell your friends
- The car itself: the old-fashioned way with a “For Sale” sign in the window
Include key words:
· Must Sell!
Indicates you want it gone and are in a rush to sell. This can attract others who are rushing to buy a car.
“Or best offer” tells them that you are willing to entertain offers below the price.
· Asking price
It’s a level lower on than the urgency of “OBO”, but still allows people to know you are willing to negotiate.
This means you are not about to negotiate and only want serious offers.
Showing Your Car
When taking calls and requests to see the car, go with your intuition. If you feel put off or they seem to act strange, then don’t take their offer. You will find someone that wants the car who you trust coming to your house.
There will be people that want to test drive your car. Make sure they have their license and ride along. If they don’t know the area, you might need to guide them.
Some people may also request a mechanic report. You can avoid this by getting one before you start selling your car. Even if you have one, some people might want their personal mechanic to look at it. If you’re concerned with them stealing the car, offer a time you can go with or decline.
If there are some bigger problems that may need repairing, you could come into a problem with offers. If you put “as is” on your ad, highlight that to the buyer so they know they are buying everything with the car: the positives and negatives.
Know when to draw the line. If a mechanic report keeps listing all these problems or near future problems, there has to be a point when you point out the specs of the car. Especially with older cars, they’re going to get problems no matter where they buy from. If the buyer doesn’t want to deal with issues, they could get a newer car. Know what kind of buyer you’re talking to.
Check with your local DMV to prepare any of the paperwork that you’ll need to transfer the title. If you don’t want to be liable for an accident after the sale, look into the release of liability wavers at your DMV. Finally, make sure you notify your insurance of the sale and release of car.
TFC Title Loans Can Help!
If it’s money that you need and you’re considering selling your car, come to TFC Title Loans! We base a loan on the value of your car with competitive rates. The best part is you get to continue driving your car as you pay it back. Give us a call to see if you qualify today!