10 Things to Do Before Selling Your Car

Even if you love your car like one of your own children, there's going to come a time when you need a new vehicle. While it's hard to let a member of the family go, you have to decide what you're going to do with the old one. If you decide to trade your car in at a dealership, you may not be happy with the money you get. Selling it yourself may seem overwhelming, but you're much more likely to get a price that lines up with your expectations if you take on the challenge. Here are 10 things you need to do before making a deal and handing the keys over to a new owner.

1. Get it detailed

   Just like you would dress up for a job interview, it's important that your car looks clean and taken care of when a potential buyer looks at it. A car wash and waxing is essential, along with removing any trash or clutter inside the vehicle. It's a smart idea to get the car detailed, whether you do it yourself or get a professional to do it quickly. If you do it on your own, it may be a dirty, time-consuming job, but you'll save yourself a chunk of money. A professional detailing can range from $60 to a couple hundred dollars, depending on the services you request. You should also remove any window or bumper stickers you have, because the personalization makes it harder for the buyer to picture the car as their own. The benefit of spending the time or money, though, is that you could get hundreds of dollars more from the sale just by making your vehicle look good.
   

2. Get a tuneup

   A car tuneup ensures that all the systems in your car, like the ignition, fuel, and computer systems, are working together properly. If any belts or filters are old or worn, these will also be replaced during a tuneup. It's a positive thing to be able to tell any potential buyers that you've recently had the car serviced, since they'll know that there aren't any problems they'll have to take care of right away. If the mechanic finds any problems, you can choose to get them fixed or factor them into your negotiations with buyers. Informing a buyer of a small problem makes you look credible and lets you keep the power in the negotiation. A professional tuneup can cost as little as $50, but goes up if you need new parts or extra labor. If you're handy, you could tune the car up yourself, but make sure you know what you're looking for.
   

3. Find out how much your car is worth

   Obviously you want to make a lot of money off of your car, and you might think it's worth a pretty penny since you've made so many fond memories in it. But if you ask an outrageously high amount, buyers aren't going to bite and you'll be stuck with your car of memories for a long time. Do a little research before setting your expectations so that your asking price is reasonable for both you and potential buyers. Many websites, like Kelley Blue Book, can help you determine the market value of your vehicle. If you trade your car in at a dealership, be prepared to accept less than the market value, since the dealer wants to make a profit when they sell your used car. If you're negotiating with buyers yourself, keep in mind any cosmetic damage to your car, as well as needed repairs. And don't expect to get away with exaggerating the price; buyers can also use these sites to find out the fair resale value of your vehicle.
   

4. Make an advertisement

   There are several options for advertising your used vehicle, the easiest of which is to write "For Sale" and your phone number on your back windshield with shoe polish. But you'll also probably want to put your advertisement in a place where people search when looking to buy a vehicle. This guarantees that your car will be seen by at least some of the right people. Put an ad in your local newspaper's classified section or on an online car-buying site, which will cost you a little bit but will help you reach a much wider customer pool. Keep in mind some basic guidelines when writing your ad: use several good photos, be honest, and follow the format traditionally used in ads. You should also research what times of the week are best to get more attention, such as the weekend when more people buy newspapers.
   

5. Settle the finance

   It's illegal to sell a car that is still on finance. If you have outstanding car payments, your car can be repossessed, and if you've sold the car, it can be repossessed from the new owner and you will end up in court. In order to settle the finance on your car, contact the finance company and discuss your options. They may give you permission to transfer the outstanding finance to the buyer or they may tell you that you have to settle it. If you don't have the funds available and you feel like you have to sell the car now, you can try to take out a personal loan to cover the balance and then repay the loan when you are paid by the buyer for the car.
   

1. Get a vehicle history report

   You've probably seen the commercials for CarFax or AutoCheck vehicle history reports and thought they were only useful for buyers, but getting one as a seller can be just as valuable. Getting a vehicle history report and providing a copy to any potential buyers will assure them that you're not hiding anything and that the car is in good condition. It also gives you the opportunity to prepare for any less-than-stellar news that shows up on it since many potential buyers will probably get their own report and ask you questions about it. If you know ahead of time about your car's history, you can anticipate the concerns a buyer will have and come up with an answer. Most vehicle history reports include whether the car's been in an accident and what kind of damage was caused, whether there are problems with the odometer, whether the vehicle's been branded as a lemon, and more.
   

2. Prepare to meet potential buyers

   Not only will you want to be able to answer any questions a buyer might ask you, but you'll also want to make sure the buyer is someone you want to do business with. This starts with the first phone call. You may be eager to get the car off your hands, but if you're willing to meet anyone who calls, you could be risking your safety. When talking to a potential taker on the phone, make sure you listen for any warning signs, like someone who isn't willing to tell you who will be coming along on the test drive or who doesn't want to bring their driver's license. Trust your gut and hang up on anyone who raises any red flags. Even if you feel good about a buyer, choose a meeting location that's in a public place and at a time of day that you'll both be comfortable with.
   

3. Have a safe test drive

   Before letting someone drive your car, call up your insurance provider and make sure they cover test drives, just to be safe. You don't want to wreck the car you're trying to get rid of. When you do meet up with the prospective buyer for a test drive, bring someone else along. If the buyer was thinking of trying to scam you or harm you, he'll be less likely to do it if there's someone else present. Ask to see the person's driver's license before you let him drive your car, copy down the information, and keep it until your business with him is done. Always accompany the person on the test drive, have them drive you through populated areas, and never leave the key in the car, even if you're just switching seats.
   

4. Learn to negotiate

   You'll definitely want to know some negotiation tricks before facing a potential buyer. When you set your asking price, you should build in a little room for haggling, since it's highly unlikely that you'll get the full price you wanted. By having some wiggle room, you and the buyer can both walk away happy. But even though you're prepared to go lower, never quote your lowest price to a potential buyer. They may use this as the starting point for negotiations rather than your bottom price. There are all kinds of negotiating tips on the Internet, but the best thing to keep in mind is to stay calm and not to rush into any deals that you may not be comfortable with. There will always be other buyers, so don't sell yourself short.
   

5. Know how to finalize the sale

   Once you've settled on a price and the buyer is prepared to pay you, you'll probably want to hand the car over as soon as possible. Knowing your state's rules on the sale of motor vehicles ahead of time will limit the complications when you're in the middle of closing the deal. Check out your state's DMV website for details. You should also consider getting a release-of-liability form so that the liability transfers to the buyer as soon as you sign the papers (in case they get in a wreck as they drive away from you) and a sellers contract so you both have proof of the sale.
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