If you want to earn some extra cash, selling an old car is a great way to do that. That said, getting the best deal requires some planning. Whether you’re just getting rid of your current vehicle or upgrading to a brand-new one, understanding how to maximize your car value will help you get every dollar you can.
The first thing you should do is explore multiple ways of selling your vehicle. Visit Pick-n-Pull online to learn how you can quickly and easily turn your vehicle into cash.
Table of Contents
- Assess Your Car’s Value
- Prepare Your Car for Sale
- Choose the Best-Selling Method
- Negotiate for the Best Price
- Finalize the Sale Legally and Securely
- Final Thoughts
Assess Your Car’s Value
Determining the current market value of your car helps you set a realistic asking price. At the same time, you get to maximize your potential earnings. Here are a few things you can do.
Use Online Valuation Tools
The Canadian Black Book and Kelley Blue Book offer free online valuation tools so that you can estimate your car’s value based on the make, model, year and condition.
Compare Similar Listings
You can search all over the Internet for classified ads and other online marketplaces where similar cars are selling in your area to see what the prices are. This will tell you whether or not you’re pricing your vehicle competitively.
Prepare Your Car for Sale
Once you’ve put some thought into how to price your car, you can get it ready for sale. Taking a few simple steps can help you further define how much a buyer is willing to pay.
Clean and Detail Your Car
Thoroughly cleaning your car both inside and outside can increase the appeal of the vehicle. Getting it professionally detailed makes the presentation even better.
Fix Minor Repairs
Top up fluids, fix minor dents, and deal with minor scratches. Do everything you can to make your car more attractive to buyers.
Choose the Best-Selling Method
There are many ways to sell your car, and choosing the right one depends on how quickly you want to sell it and how much effort you want to put into the process.
Selling Privately
Handling the sale yourself and posting ads online privately through social media or online classifieds is often your best option. That said, this method requires more time and effort because you have to meet with buyers and negotiate potential deals.
Selling to a Dealership
Selling your car to a dealership gets you paid faster than conducting a private sale. You might not get the highest price, but you do get added convenience.
Selling to a Junk Car Buyer
If you want an instant quote and would prefer somebody to come and pick up your car for you, sending your vehicle to a junk car buyer is the best way to get rid of the car simply.
Negotiate for the Best Price
Once you find a buyer for your vehicle, you’re going to want to use your negotiation skills to get the best possible return. Here are a few things to consider when negotiating.
Know Your Bottom Line
Understanding the minimum price you’re willing to take helps you set boundaries before the negotiation even starts.
Highlight Your Car’s Best Features
Can you offer the buyer low mileage? Did you repair any issues before putting the car up for sale? What are the premium features of your vehicle? Define these when you sell your car, and you’ll probably get yourself a better deal.
Finalize the Sale Legally and Securely
Make sure you follow the law when completing the sale of your car.
Prepare the Necessary Paperwork
Depending on where you live, you might need a bill of sale, and you definitely have to handle vehicle registration and safety certification.
Accept Secure Payment Methods
Use e-transfers or cash to sell your car instead of accepting wire transfers or personal checks. This helps you avoid anything that can go wrong with payment.
Final Thoughts
By taking the above steps, you can get the most money possible for your old car. Whether you sell it privately or go to a junk car buyer, knowing the value of your car will take you a long way in terms of getting what you want out of the deal.
