When you have a car to sell, it’s important to find the best possible deal in order to maximize the value of your car. When arranging a sale, you want to find a buyer that offers the most money and can be counted on to pay the full agreed-upon amount.
The great news as a seller is that there are many different ways to sell your car so there are several options to choose from to find your best route. The bad news is with so many choices it can be hard to know how to find the best deal for your sale. Fortunately, we’re here to explain the different ways you can sell your used car including the benefits of each, and to provide a how-to guide to sell your car for as much money as possible.
Selling to a Private Buyer
One option for selling your car is to find a private buyer and sell to them directly. Making private sales is easier now than it has been in the past due to the increase in options for advertising. In addition to more traditional methods of advertising a car for sale, such as parking your car near a busy road with a sign or running an ad in print media, selling online provides options with public message boards and social media marketplaces.
The primary appeal of selling to a private buyer is that modern methods allow you to advertise and discuss prices with minimal effort. By posting some pictures on an ad you can open a dialogue with potential buyers to negotiate a price and location for the sale.
Selling to a Dealership
For convenience, it’s hard to beat the traditional approach of selling your vehicle to a dealership when you are done with it. The professionals at a car dealership are experts and best positioned to understand the value of your vehicle and can offer a fair price. Because dealerships are not as restricted in their finances as some private buyers may be, selling to a dealership can help to raise the value of your sale.
Trading Your Used Car In When Making a Purchase
When you aren’t just looking to sell, but also to buy, there’s no better way to sell your old car than by doing so as part of a trade-in when purchasing a new or used car from a dealership. In addition to the benefits that come with selling to a dealership, opting for a trade-in arrangement makes your new or used car purchase easier as well.
Selling your car to a dealership as a trade-in allows you to take the money you receive for your vehicle sale and apply it as a down payment on the car you purchase. This lowers your remaining balance, allowing you to pay less out of pocket or take on more favorable loan terms to lower your monthly payments.
How to Get the Most For Your Used Car
If you’re ready to sell or trade-in your used car, here’s what you need to do to ensure you get as much as possible for your car:
- Know your value: In order to effectively negotiate and ensure you are making fair value in the trade, it’s important to know the value of your vehicle. Online resources now make it easy to find an estimated value by entering in your make, model, mileage, and any relevant mechanical concerns in order to get a base value you.
- Check your remaining loan amount: If you have an outstanding balance on your car loan, it’s important to know how much is remaining as that can greatly affect your financial considerations when deciding if a deal is acceptable or not. Check with your lender about how much you owe and that you are in a position to sell the car.
- Gather papers of ownership: After making a sale, you need to transfer ownership over to the new owner in the form of your vehicle’s title. Your state may require additional paperwork in the sale, as well, so check to make sure you have all the necessary paperwork.
- Visit your local dealership: Once you have your estimated value and paperwork sorted, you’re ready to visit a dealership. Choose a local dealer with a strong reputation to ensure that you can trust the sales representatives you speak with to provide a fair offer and good advice if you are also shopping to buy.
- Shop for a new vehicle: If you are in the market for a replacement for the vehicle you are selling, it can be helpful to know what car you are looking to purchase when negotiating your trade-in. Take your time to check out the cars on the lot and find the car that best matches your wants and needs. Make sure to take a test drive in order to see how the car handles on the road to make sure you’ll love it.
- Negotiate a price: Once you’ve found the car you like and want to buy, it’s time to negotiate the exact value of your trade-in and how that trade-in value is applied to the new purchase. Using all the information you gathered about the value of your current vehicle, the cost of your replacement if you are making a purchase, and the status of any outstanding auto loan, speak with your dealer to find the best possible price for your trade-in so you can ride off the lot in your new vehicle happily.
Here at New Jersey State Auto Used Cars, we are proud to be a reliable dealership with customers who trust us to provide the best deals on the best cars every time. If you have a car to sell or trade-in, New Jersey State Auto Used Cars is here to offer the best trade-in values and an outstanding selection of cars to buy with your trade-in cash. What are you waiting for? Go ahead and get in touch with us to see how we can help you sell your car today.