You might not know where to begin the selling process if you are ready to sell your car. This step-by–step guide is ideal for first-time sellers. It walks you through every detail.
Step 1: Organize Your Paperwork.
Before you even consider selling your car, you will need to have all the necessary documents.
Vehicle title: Make sure to have your vehicle’s registration in hand. You can’t sell your vehicle to anyone without it. Call your lender if your vehicle is still covered by an auto loan. They will be able to help you transfer the title to the right owner.
Vehicle history report Your vehicle identification number (VIN), which gives you access to your vehicle’s history report, which includes the title status, owners and most recent odometer reading, and service records.
Service records It’s a good idea to have the most recent service records so that you can prove that your vehicle has been well maintained.
Documentation specific to your state: Check the website of your local Department of Motor Vehicle for any important papers such as a bill of sales, that you may need in order to sell your car.
Step 2: Find out how much your car is worth.
Next, you need to determine how much your vehicle is worth. You can find the Kelley Blue Book value for your vehicle by entering your VIN, license plate number, or just your make/model. Look up similar cars in your area to get a better idea of the local market value. To get an accurate estimate of the value, make sure you find the exact car model, year, features, and condition.
Consider the fees that you will incur when selling your car. These fees vary from one state to the next.
Step 3: Decide how to sell your car
There are many options for sell my car in auckland. Let’s look at each of these options and their pros and cons.
Private Party Sale
The best for:Sellers that can use their time to make more money elsewhere
Pro: The most profit
Con:More effort and time
A private party sale is where you list your car and find a buyer. A private party sale will likely result in the highest possible price for your vehicle.
It can take longer to find potential buyers and ultimately sell your car. It can take some time for the lien holder, if you still owe money on your loan, to release the title in the hands of the new owner. You could also be subject to legal action if you sell a car that is inoperable immediately.
Private party sales are not without risks. Accepting cashier’s checks and other forms of transfer outside of cash at the sale is a possibility. Before you hand over the title or release the vehicle, make sure that the funds are clear.
For: Sellers looking for a new car
Pro: Easier transfer of ownership
A dealership trade-in is a good option if your car is being sold because you have a need for a new vehicle. The transaction closes your existing loan quickly and credits any remaining credit to your new vehicle. All you have to do is get rid of your car and buy a new one. The new car’s purchase price is determined by the trade-in value.
A dealership trade-in will almost always get you a lower price than private sales. Dealerships have to pay for maintenance, repairs and advertising costs so the offer price they offer is usually lower than with private parties.
Instant Cash Offer
For: Sellers looking for a quick cash flow and security.
Instant cash offers are available online for used cars. Simply fill in the details about your vehicle and you will receive an instant guarantee price. The next step is to contact you to arrange payment and transfer of your car. Your guaranteed price is valid as long as the vehicle passes inspection and meets your claims.
Rocket Auto’s dealer partners can offer you an immediate cash offer. You can also use the cash offer to get a comparison of other offers from dealers in person and peer-to-peer sales.
If time is short, an instant cash offer can be a great option. Instantly find out how much you will receive. You don’t need to negotiate and can get your money fast.
A cash offer will likely result in a lower price than a private sale, and a higher amount than a dealer. The convenience of selling your car quickly and receiving the cash fast is what you’re paying for.
Step 4: Advertise Your Car.
If you are going to the dealer trade-in or instant cash offer route, you can skip this step. A private sale, however, requires advertising. This is what it might look like:
Post your car on multiple websites. This will ensure you have the greatest success. Craigslist and Autotrader are some of the most popular sites.
You can expect to receive many questions about your car from people who visit all of the sites. You might be approached by some who want to lower your offer or make an offer right away. As potential buyers may be messaging multiple car owners simultaneously, you should quickly respond to any reasonable message.
Schedule a test drive. To allow potential buyers to test drive the vehicle, you will need to make time in your busy schedule. You spend money on gas and mileage, and you risk getting into an accident. Therefore, we only allow test drives for people who are serious about buying the car.
Safety can be a concern when you agree to test drive with a stranger. It is a good idea to bring a friend or relative along to the test drive. You should meet in public places during the day to get to know the person and record their information before you set out.
Step 5: Get paid
Private parties are required to take additional steps to ensure that funds are transferred securely if you sell a vehicle. Your buyer should know that you will only accept cashier’s checks, bank drafts or cashier’s cheques. You should make it clear that the funds must clear before you release the vehicle or title. Avoid wire transfers and personal checks as they are more vulnerable to fraud.
The dealership will apply the credit earned from the sale to the price of your new vehicle when you trade in. While you won’t walk away with much, your new car will be less expensive.
Instant cash offers allow you to trade in your car for a check often the same day.