Last Updated on January 22, 2021 by Amir Arif
Selling a used car requires a bit of patience. Prospective buyers are going to need to make sure they are not buying your nightmare, and so will insist on taking your car for a test drive before deciding whether they want to purchase it or not. You also will need to renew your ads online so as to reach potential buyers. This is obviously stressful and may take a while, and sometimes you don’t have all of that time to wait. The good news is that there are a few ways to get rid of that car without waiting so long. The bad news, however, is that you may not get as much your car is worth. But if you’re certain you really need to sell that car quickly, and then here are a few ways to go about it and without having to wait so long.
1. Reduce Your Valuation
One of the reasons people take forever to sell their used cars is their unrealistic valuation of the car. Of course, we understand that you are trying to get the best possible deal but overpricing your car will scare off possible buyers. It will certainly impede your ability to sell quickly. Reducing your valuation then is probably one of the quickest ways to get that car sold. Everyone loves a good bargain. So, if you’re really desperate to get rid of that car, then you should consider lowering your valuation. This may not be ideal, especially if you’re selling the car because you’re in dire need of some cash. However, its effectiveness is a reason to consider this option. Also, it is important to note that you don’t have to sell at a ridiculously low price just because you want to sell it quickly. Anything a little below its value would do. You may want to check for your car’s market value on Blue Book Value before settling for a price.
2. Go for a Trade-In
If what you need is a new car, then there may be no need to sell off your used car first. Almost all dealership offers a trade-in option. Your car’s value is pitted against the new car you wish to buy. This lowers the money you have to pay for the new car. The good news is that you will be killing two birds with one stone as you sell off your old car and get a new one in return. However, the price the dealership offers may likely not be fair. You will certainly need to be at your negotiating best to “beat the hand of the dealer” while trying to trade in your old car for a new one. This may not be as fun as playing blackjack though, keeping in mind that they also will be trying to sell off your car with the chance of a good profit. So, the value of your car may suffer from their valuation. To get the best possible deal, it is wise to try a few dealerships as there is a good chance you will be getting a better deal elsewhere.
3. Sell it at an Auction
Another good way to sell your used car is to trade it at an auction. An auction means you have a lot of prospective buyers who are willing to buy as soon as possible. They may even buy for way more than you originally intended to sell if there’s a bidding war. The downside to this option is that you will have to pay to get your car auctioned. There is also a chance that there may be no bids at all for your car which means you would have wasted the money you paid to get it auctioned. So if you’re confident that people would love to buy your car, then do online research on the auctions in your area.
4. Sell to Outside Dealers
There are lots of dealers out there who specialize in buying used cars from people. You can sell your car to them and reduce the amount of time and stress it will originally take you if you’re looking to sell to individuals. As you may have guessed, this is quite similar to a trade-in, with the only difference being that you’re not getting a new car. You sell to a dealer who will also look to sell to another buyer, meaning your car will be valued at a much lower price. You should also look to try a good number of them to get the best possible deal.
Before you decide to get your car sold, there are a few things you need to do to make sure you get a hitch-free sale.
The first thing to do is to collect your paperwork. You will need the pink slip or car’s title which gives you the rights to sell the car. You should also check with your DMV to know the paperwork that will be required for a change or transfer of ownership.
It will also be wise to check for your car’s value at Kelly Bluebook or Edmunds to be sure of the exact value of your car. So, you can properly negotiate while selling with any of the options above.
Another very important thing to do is to give your car a good look. Seriously, this will help you sell the car as quickly as possible. You do not expect to get many buyers or get your car sold for the right price if the car looks like crap. Make sure it’s in perfect condition. Give it a thorough washing and get rid of whatever accumulated trash there is to make it attractive for prospective buyers.
If you’re looking to sell to a private owner, then get good ads to showcase your car. Take a really good picture from different angles, and put up the ads on any of Autotrader, Craig list or eBay motors. While doing all of this, it is important to note that not all callers will be legit. Some are simply scammed hoping to rip you off. So, it is necessary to screen every potential buyer to be sure you’re dealing with a legit buyer.
However, you look at it, selling your car is not an easy process. Find whichever of the above options work for you, and increase your chances of selling quickly, and all of these, with ease.