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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 goal is to help you make better financial decisions by offering you interactive tools and financial calculators that provide objective and original content. This allows you to conduct research and compare information at no cost to help you make financial decisions with confidence. Bankrate has partnerships with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this website are provided by companies that compensate us. This compensation could affect how and when products are featured on this website, for example for instance, the sequence in which they be displayed within the listing categories in the event that they are not permitted by law for our mortgage home equity, mortgage and other home loan products. However, this compensation will not influence the information we provide, or the reviews that you read on this site. We do not include the universe of companies or financial offers that may be available to you.



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

Allison Martin's work started over 10 years ago as a digital media strategist, and she's since been published in numerous prestigious financial media outlets, 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 passionate about helping readers feel confident to manage their finances by providing precise, well-studied information that break down complex topics into manageable bites.









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The demand for used vehicles is high due to the . Though that shortage is easing and could close this year, many automobile makers continue to make fewer vehicles than they usually would. That means dealers still have lower levels of inventory. It's good news, however in the event that you happen to be selling a used car, as you're still likely to be able to find more than a few potential buyers. However, before you put up an ad online, there are some guidelines to follow to make sure you receive the highest price for your car. 8 steps to selling your old car an asset that is as valuable as a car, you want to secure the most competitive price. Clean your vehicle prior to listing it for sale. Also, you should take time to determine the best price for selling and understand how to negotiate efficiently. 1. Select the best method you'd like to market your vehicle. There are three ways to sell your vehicle. Trade it in is it possible to purchase a vehicle from a dealership . It's convenient, as it doesn't require you to advertise your car to buyers. However, you will not get as much value for it as you would from private sales. Private sale: You'll usually be able to get more in the event that you decide to sell it on your own. But you'll have to work hard to find the right buyer and negotiate a concrete price for the sale. Dealership: Many dealerships offer a no-cost unconditional cash offer for your vehicle. It's fast and simple and you'll be given the time to consider whether you want to redeem the offer. Car buying websites: like Shift and AutoNation guarantee to offer you a price for your car in just a few minutes. You'll have to provide the necessary information regarding the car's model, make, model, color and mileage. It is also necessary to upload photos. These companies will pay you cash fast for your vehicle, but they typically charge service charges 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 have the following documents: Paperwork from the original sale of the vehicle. The title to the vehicle. Any service records available. If you're lacking any of these documents ensure you have them in your possession to be able to sell your car. In the event that you do not, you may face complications when trying to close the deal. It's also a good idea to have the documentation for emissions tests accessible if you reside in a state where emissions tests are required. If there are warranties that still remain on vehicles, having the paperwork available is essential. You may even fetch more for a vehicle that is still protected by warranty. 3. Make sure your car is ready for sale Once you've decided how to market your vehicle and collected the required documentation, now is the time to get it ready for the market. In the ideal scenario, you'll want to spruce up the interior and exterior of the car to give it a shine prospective buyers. Have your car professionally cleaned or spend time cleaning and shampooing the carpets, washing the mirrors, washing the exterior, applying wax if necessary and making the tires shine. Also, bring your car to the mechanic for an oil replacement. If your tires or brakes are nearing the end of their useful life It's the right time to have them replaced. The mechanic should change out any lights that are burned out and windshield wipers that don't perform as they should. Also, plan to repair cracked windshields, scratches, or dents. Bankrate tip
The process of cleaning your car and making key cosmetic fixes is like staging a house for sale. The way your car looks is important and can help you get a better price. Many people don't want to purchase an automobile that is adorned with scrapes or dents, or with a dirty interior.


4. Set the right sales price If you intend to sell your used car to a private party , . A price that is too high could make potential buyers turn away, and selling for a low price means you will get lower than you're worth. So, you want to conduct your own research to ensure you price the car right and leave a bit of flexibility for negotiations. There are many tools to figure out . Use your " " feature in Kelley Blue Book or refer to Edmunds to get an idea of the value of your vehicle. Also, you can utilize Autotrader or refer to classified ads to search for similar ads in your neighborhood. 5. Make sure to inform everyone in your network that you are selling your vehicle and ask to share the news. You can also share your news on social media sites or advertise on websites that have a used car marketplace -like Autotrader, Kelley Blue Book or Cars.com or in your local newspaper. When creating your advertisement, include photos that capture various angles of the vehicle's exterior, interior and how it appears like under the hood. The ad should also state the year, model and year of the car, its current condition, the asking price and acceptable forms of payment. Also, include things that help it distinct, such as an extended warranty, fuel-efficiency rating or heated seats and the reason you wish to sell the vehicle. 6. Prepare to negotiate. To prepare for negotiations, whether you're selling privately or to a dealer bring your vehicle to several dealers and get offers. Use this information and what you've found when looking up the value of your car on sites like Kelley Blue Book or Edmunds to guide your negotiations with potential buyers. You'll want to come to an agreement with cheapest price with a clear mind, and be ready to respond. Start the conversation off with letting the prospective buyer give you an amount. If it's a good number then you have to decide if you want to request more or go ahead with the purchase. If the price isn't sufficient, try to offer a slightly higher price that is higher than the amount you're willing to accept. Most importantly, be prepared to leave when you can't agree on a fair price with the other side. 7. Be smart and safe about the sale It is essential to be safe importance when it comes to arranging selling your vehicle with a private party. The seller may prefer to pay cash. S uggest that they use the contactless payment processor such as PayPal, instead. A cashier's cheque is another viable option. The check is guaranteed to be cleared since the money is immediately taken directly from the buyers bank account when the check is issued. If a potential buyer wishes to test drive the car before agreeing to purchase the vehicle, contact your insurance company to make sure you'll be covered in the event that you are involved in an accident. Additionally, choose a well-populated area and agree to a route before it begins. You may also want to have someone else accompany you to ensure your safety. 8. Get the deal signed off at final, you've discovered the ideal buyer and you're eager to finalize the sale. However, before you can conclude the deal, you must visit the DMV in your area (Department of Motor Vehicles) together with the buyer to transfer the vehicle's title on to the buyer. Remember that this process is different in every state. Some states might require you to provide evidence of an inspection that has been passed or that you contact the tax assessor's office in the county you reside in. You can find the rules applicable to your state at . The next steps are based on whether you want to make more cash or trade your car for a new one, these suggestions will allow you to get the best dollars for your car. But, a private sale is likely your best method to make the most of your profits. Be sure to get a few valuations before selling your vehicle to make sure that it's priced correctly and is sold in a short amount of time.


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Written by

Allison Martin's career started over 10 years ago as a digital content strategist, and she's since been published in several leading financial media outlets, including 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 committed to helping readers gain confidence to manage their finances by providing clear, well-researched information that break down complex topics into digestible chunks.






Auto loans editor




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