Cash For Used Cars

Making a trade at a dealership will greatly simplify the procedure of selling your old car and acquiring a new one. I chose to go this route recently when selling my old SUV. I work full time and didn't have extra time during the day to show my car to potential buyers. My SUV had about 130K miles on it and needed maintenance. For me, it didn't make financial sense to fix the car and sell it. I made the choice to get as much cash as I could from a dealer for my used car and put it towards a newer model. It is common to see a seller get more money for a used car from a private buyer. In my case, I didn't lose much going the dealer route. There are a couple of ways to get a competitive offer from a dealer.

• Take your used car to a dealer who specializes in your cars make and model. If you are selling a Ford, trade it into a Ford dealership. They will be give you a better price for your car then a Honda dealership. You will get more cash from the Ford dealership because they will be able to fix up your used car for resale cost effectively.


• There are many factors that may make your car more appealing to a dealership. A car that is popular and sells quickly will be an enticing trade in. Make sure that you are selling your car during the appropriate season. A dealer will probably pay more for your convertible, if you sell it during the spring or summer. A SUV will sell better in the fall. Take this into consideration when selling an automobile.

Paying taxes is another big advantage to getting cash for your used car from a dealership. You will only have to pay taxes on the difference between the trade in amount and the new car sales price. Let's say you trade in your used car for $5,000 cash and put it towards a new $10,000 car. You will only have to pay taxes on the $5,000 dollar difference. The cash that you will save with the trade in will ultimately reduce the price of the new car. The biggest downfall of selling your used car to a dealer is money. Dealers are known for buying cars at cheaper prices but there are ways to get competitive deals. Getting cash to put towards a new car is the simplest way to navigate the selling and buying process.

Going the private buyer route when selling your car, can take a lot of effort. Finding a private buyer will potentially allow you to make hundreds or thousands more than a dealership trade in. In essence you will be rewarded for the extra work. Before you decide to find a private buyer ask yourself a couple of questions.

• Do you have time to sell your car?


• Is there a demand for your vehicle?


• Do you have access to a large population of buyers?


• Is your car in good enough shape to sell?


• Will you be able to handle a variety of characters or negotiations?

In case you are unable to do these things, it may be smarter to take your car into a dealer. If you said yes to these questions, then you will have a good chance of making a good amount of cash for your used car. Taking this route will mean a good amount of diligence on your end.

• Prepare your car for sale. When showing your car to a potential buyer, it is always better to make it look good. Clean the car inside and out in order to give your car the appearance that it is well maintained. You should also complete any minor fixes the car may need. Make sure the cars important safety features are all properly working. A car that takes thousands of dollars to fix up may not be worth trying to sell privately.


• Price your car accordingly. It will be worth your time to do a little research in order to get an accurate price for your car. Pricing your car too high will scare off potential buyers. Underpricing your car will attract every buyer out there. My girlfriend accidently left out a zero when making a sales add. Instead of $2,000, her car was advertised for $200. Within an hour she had literally hundreds of responses. Going to low may also make buyers wonder if there is something wrong with your car. Be sure to see what the prices for the same model of vehicle are in your area. Compare prices in different buyers guides like Kelly's Blue Book or NADA Used Car Guides.


• Advertise your car. The best way to find a private buyer, in my opinion, is online. If you live in an area with a good sized population, there will be buyers looking at your car. You do not have to pay money to list your car in many places online. Just beware of the people you will possibly be dealing with when making online advertisements. You will have to be ready to meet with all different types of people so always take precautions when meeting anybody in person. The best thing about online ads, besides being free, is that it will be seen by thousands of people.


• Be prepared to negotiate. Arm yourself will all the information you have about the car. If you have documents to back-up everything from maintenance to the cars history, it will limit a buyer's haggling power.


• Accept proper payment and be prepared for the sale. It is always good get cash for your used car. A bank certified check is the only other method of payment you should accept. It is proper to meet at your local bank to accept the check. You can immediately make sure the check isn't fraudulent. After the payment has been made only then should you hand over the keys and title. Make sure that you have checked with your local DMV and that you have all forms needed to sell your car. You will also be able to double check any obligations you will have to sell the car. It is recommended that you take the buyer to a DMV after the sale and complete the release of the vehicle on the spot.

When trying to get cash for used cars, going with a private buyer will be more effort and have more reward. It is a much longer process to sell your car to a private buyer. Trading your car in at a dealership is the simplest way to sell your car and walk away with a new one. Taking your car to the proper dealership will ensure you get a better deal.