If you’re thinking about buying a new car, then consider selling your old one to a private party instead of trading it in.  Dealers typically only give you 25% of fair market value for your used vehicle, so if you’re trying to make the most of your money, here are a few tips for getting rid of it yourself.

1. Provide Buyers with a Car History Report

Paying for the Carfax or AutoCheck report will be well worth the money.  This report lets buyers see the odometer readings, when the car has transferred ownership and if it’s ever been in an accident. Visit  Carfax.com or Autocheck.com to search by VIN number.

2. Cut Costs by Listing Your Car Online

Often times, it’s much cheaper to place an online ad instead of buying space in your local newspaper.  You can even list it free at sites like Craigslist or Carsonlinefree.com. Not only are you saving yourself money, but you’re reaching more potential buyers by using the net.

3. Fix It Up with a Little Bit of Elbow Grease

You’d be surprised at how much more appealing a vehicle is when it’s looking as nice as possible.  Make sure you wash and wax it, clean the tires, wheels and interior.  These are simple and inexpensive ways to show potential buyers a car’s true beauty.  Don’t forget to check minor things like bulbs, fuses, locks and mirrors.  

4. Enhance the Sale

If you have the extra money, you may want to consider putting on a new set of tires, having it detailed by a professional or getting a tune up.  Keep all documentation of any maintenance or repairs you’ve had performed on the car.  Most buyers will probably have a mechanic look the car over to avoid buying a money pit that will cause them a lot of potential problems in the future.

5. Act Smart; Be Safe

When meeting a potential buyer, it’s always wise to meet in public, during daylight hours and even better if you can bring someone with you.  When you find a seller who’s ready to purchase your car, make sure you’re paid with certified funds, a money order or cash.  Never accept a personal check and although it may sound silly, with all the scams flying around these days, make sure the cash isn’t counterfeit.

6. Get It In Writing

Once you’ve worked out a deal, make sure you document everything.  You may need a bill of sale for title work or your bank, which you can find ready-made at CarBuyingTips.com. 

7. A Word to the Wise

According to CarBuyingTips.com, the number one rule of selling your car is to NEVER put “or best offer” in your ad because it makes you look desperate to get rid of your ride!  You can always negotiate in person when you find an interested buyer.

Tags: Advice, Car Selling, Car Shopping, General, Guides // Add Comment »