1.Selling it privately
Selling your car privately, meaning directly to the buyer, ensures the highest profit. Since you can avoid paying a middleman, you get to keep the full asking price. However, it takes a lot of time and effort.
The process:
First, you need to check your car’s market value. (We recommend using Edmunds or Kelley Blue Book)
Next, you need to get all the paperwork in order, including a vehicle history report and maintenance records.
Then, you need to create a listing. You can use websites like Craigslist, eBay Motors, or even Facebook Marketplace. Make sure to write a detailed description and include nice pictures of your car!
After that, you need to wait for potential buyers to contact you. Serious buyers will likely want to meet and test the car. Be careful to avoid scammers though.
Finally, if you and the buyer agree on the price, you need to provide the buyer with a bill of sale. Lastly, you need to go to the department of motor vehicles (DMV) and get all the transfer paperwork done.
Payment is where most scams happen. The safest way is to wait for a bank transfer. If you cannot wait, you can also ask for cash and go to a bank right away. Checks are also an option, although it may be harder to verify their validity.
You can also sell your car privately through word of mouth. The chances of getting scammed are much lower, however, they might want to haggle the price and hold you responsible if anything goes wrong with the car.
Another albeit old-fashioned way is to park your car in a public place with a big sign in the window and your contact information. This is basically an offline listing. Fewer people will see your car, but those who do live nearby and will be able to see it in person before contacting you.
You can even combine all of these!
2.Online car dealer
Car selling websites are the easiest way to sell your car. All you have to do is write your license plate number and answer a few questions. The website will offer a price, so you don’t need to deal with people trying to haggle the price. Once you’re done registering, they will come and pick up your car and make the payment within a few business days.
However, online dealers also need to make a profit, so they take a percentage of the final offer. Different dealers might offer different prices, so it’s best to check multiple and compare the price.
Some of our recommendations are CarGurus, CarMax, CarBrain, Wheelzy, or Carvana.
If you are trying to sell a classic car, regular methods will likely not reach the intended audience. Car enthusiasts use their own websites, such as ClassicCars.com.
3.Local car dealer
If you’re really unsure about how to sell your car, a local dealer might be the safest option. You can call different dealers and see what price they will offer for your car. You can also visit them directly with your car.
However, similarly to online car dealers, they also need to make a profit, so you won’t get the highest price possible. Car dealers also generally prefer vehicles that are still relatively new and in good condition.
Key takeaways:
The best way for you to sell your car depends on how much time you are willing to invest vs how much money you want to make.Selling your car privately takes a lot of time and effort, but you will get more money. On the other hand, using a car dealer (online or local), while being less profitable, is more efficient and potentially safer.