Selling a Used Car

Posted by ross | E-Mail

We always talk about buying used cars, but what about getting rid of them?  What are your options for selling or trading?  

Before doing anything, you need to determine the Kelly Blue Book value of your vehicle.  You will see there are three different values for each vehicle: retail, trade-in, and private party.  You are going to get the most money for private party, and least for trade-in.  At the same time, trade-in takes the least amount of work, while private party car sales can be a soul sucking misadventure if things don't go well. Knowing the blue book value will help you set your expectations for the journey ahead. 

With that in mind, here are some options for you:

  1. Trade-in at a dealership - if you have a car you don't want, then why not trade it in at the dealership towards another vehicle? Yes I know you still have a used car on your hands, but its a NEW used car, and that will at least give the illusion of happiness until your kid pukes in the back seat and breaks it in.  Beware though, dealerships are notorious for not giving you top dollar on your trade-in.  Afterall they are trying to sell just like you are.  
  2. Sell at CarMax - CarMax boasts that they will "buy your car even if you don't buy ours."  I can dig that.  Its basically a convenience issue.  From the website, "Setting up an appointment isn't necessary, and we'll appraise your car for free in as little as 30 minutes. Each appraisal is backed with a written offer that stays the same, even if you don't buy a car from us." This is nice indeed.  See how their appraisal process works.  All of this is nice, but like the trade-in option above, don't expect to get full value for your vehicle.  My buddy visited CarMax and was offered 2k less than what he sold it for privately. 
  3. Craigslist - Craigslist is great because it is free and there is tons of exposure, which means potentially more buyers at YOUR price. The problem is that its free and there is tons of exposure, which means potentially more work for you. Selling anything of value on Craigslist is a jailbreak, and a car is no different. People come out of the woodwork wanting to come by (or say they are coming by and not show up), test drive the vehicle, ask questions that you don't have the answers to, possibly scam you, and haggle like nobody's business. This can all get pretty exhausting, and after a few no shows, insulting offers, frustrating questions, and strange text messages from people who don't speak English, one wonders whether or not its worth the extra cash to put up with all of this. This largely depends on what kind of person you are. My wife loves the adventure, but frankly it makes me want to take a nap.
Selling a car is an adventure. There is a spectrum that features convenience and less money on one end and hard work and more money on the other.  You will have decide which one fits your personality. 
Digg It!DZone It!StumbleUponTechnoratiRedditDel.icio.usNewsVineFurlBlinkList

Currently rated 5.0 by 1 people

  • Currently 5/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Posted on: 6/27/2010 at 3:13 PM
Categories: Car Selling | used cars
Post Information: Permalink | Comments (0) | Post RSSRSS comment feed

Black Friday Deals

Posted by ross | E-Mail
Black Friday is the time of year for amazing deals in the area of electronics and other consumer goods.  But did you know that this was also true of automobiles?  Check out this article.  I realize that black Friday has passed, but you still might find some great deals out there. 
Digg It!DZone It!StumbleUponTechnoratiRedditDel.icio.usNewsVineFurlBlinkList

Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Posted on: 12/1/2009 at 9:47 AM
Categories: Car Buying | Car Selling | The Smart Consumer
Post Information: Permalink | Comments (0) | Post RSSRSS comment feed

Transferring a Title

Posted by ross | E-Mail

 Having just been through the title transfer process myself, I wish I would have seen this.  There is so much confusion about the entire process, that many people end up with the responsibility of paying for tickets that aren't theirs, simply because the title of the car is still somehow in their name.  Don't get caught in this and lose hundreds of dollars.  

Digg It!DZone It!StumbleUponTechnoratiRedditDel.icio.usNewsVineFurlBlinkList

Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Posted on: 8/26/2009 at 2:12 AM
Categories: Car Buying | Car Selling
Post Information: Permalink | Comments (0) | Post RSSRSS comment feed