As people upgrade, trade in, sell to a dealer, or donate their used vehicles, getting rid of their used car can be challenging.
Statistics show that more than 33 million used cars are sold annually. In 2011, research showed that 33 percent of these cars were sold directly by the owner.
“Sellers need to be extra savvy as there are many ways to buy and sell older vehicles,” says Cynthia Harris, AAA Northern California spokesperson. “Pricing your vehicle, and preparing it for sale, is the key to a quick sale at the price you want.”
AAA recommends the following tips when preparing to sell your own vehicle:
- Prepare your vehicle for sale. Prepare your vehicle by having it professionally detailed. Remove any personal items from your vehicle, including any stickers you have placed on the exterior. Have your vehicle inspected by a repair shop prior to the sale and ask for a detailed report, which can be shared with perspective buyers. AAA Approved Auto Repair shops can complete this task and can be located by searching online at www.AAA.com/Repair .
- Determine a price. Determining the appropriate selling price is a critical step to selling your vehicle independently. Be realistic about the condition of your vehicle, very few vehicles are in “excellent” condition. Do your homework and keep a list of comparable prices from various vehicle pricing sources for any potential buyers to take with them.
- Spread the word. Marketing your vehicle for sale is another important step to successfully selling your vehicle independently. Use today’s social media technology and online websites to let others know you are selling your vehicle. Colorful photos and diverse images can help support the description and features of the vehicle. Be sure to include important details pertaining to the sale.
- Showing perspective buyers the vehicle. Use common sense and caution when showing your vehicle. Meet potential buyers in a public location and do not let them test drive the vehicle by themselves. Be ready for questions, have detailed information readily available, include a CARFAX vehicle history report and keep repair and maintenance documents compiled and organized.
- Securing a payment. Once you have found a buyer for your vehicle, AAA recommends creating a bill of sale that both parties can sign and have it notarized. Notaries can be located at a bank or any AAA office. Always secure payment before you transfer ownership. Options for payment include certified checks, cash or money order. AAA suggests completing a transaction at a bank to verify the payment is legitimate. If a buyer is uncomfortable with any part of the agreement, be cautious and use good judgment to avoid the possibility of being scammed.
AAA’s tips for selling your vehicle independently are provided by AAA Auto Buying experts who test drive and evaluate hundreds of vehicles each year. AAA provides free vehicle reviews, localized pricing information and more for consumers online at www.AAA.com/AutoMaker .
Additional information on AAA Auto Buying is available at www.AAA.com/AutoBuying .