You and your car have been through a lot together: shopping, emergencies, vacations and just coming to and from work. However, lately, she hasn’t been running very well. There is a puddle of liquid waiting for you every time you go out to the parking lot and she is hesitant to start. As much as you love your car it may be time for a new one. You will need to sell your old car and there are a few options for how to do it.
Let Insurance Pay for It
Almost all states require drivers to carry collision insurance. There are two kinds of insurance rules in the United States; fault and no-fault. In a fault state, the insurance company of the driver who caused the accident is responsible for paying its related bills. In a no-fault state, your insurance company pays the bills no matter who was at fault. Hence, if you caused an accident in a fault state, you may not be able to collect insurance money for your automobile.
When you have an accident, an insurance adjuster will determine if your claim is valid. If they feel your claim is legitimate they will offer you a certain amount of money for repairs. If the amount of money it cost to fix the car is more than the car is worth, your car will be considered totaled. If your car is totaled they will offer you the amount of money that they believe your vehicle is worth.
If your car merely needs to be repaired, remember to take the cost of the deductible into consideration before accepting their offer. If your deductible is too high, you may want to consider selling the car. If your car is totaled, it is a good idea to talk to a personal injury attorney to make sure you are getting a fair deal. Insurance companies are known for trying to keep their money inhouse and offer people less money then the vehicle is actually worth. It may be a better idea to sell your car on your own.
Use the Car as a Trade-In
When you go to buy a new car, there is a very good chance that the car salesperson will offer you a trade-in amount for your old car. Trading in a car is considerably easier and more convenient than selling it yourself. However, you are unlikely to get what your car is really worth if you do it this way.
A dealership knows that you want to get rid of your old car, buy your new car and get back on the road. They are likely to offer you a price that is too low for your old car.
Depending on what state you are in, you may be able to save money on taxes when you trade in a vehicle.
Some states only require you to pay taxes on the trade difference. For example, if a dealer gives you $5000 for your car and your state tax rate is 7% you would save $350 because you traded in your car rather than selling it on your own. Then again, you may get a lot more money if you sell the car on your own.
There are a few things a dealership might do to make it look as though they are giving you a better deal than they actually are.
The money they offer you may seem fair or even too generous. However, remember to examine the total cost of your new car carefully, dealerships are famous for tacking the cost of the trade-in right back onto the final cost of the new car.
It is a good idea to keep your cards close to your chest when you go to buy a new vehicle. Before you even go in, remember to check the Kelly Blue Book Value to see what your car is actually worth.You should not let them know that you have a car for a trade-in at first. Make sure they give you a price for your new car in writing. After you get the price, you can then tell them that you have a vehicle to trade-in. They will have to honor the price they gave you.
Technically, the dealership doesn’t have to give you a trade-in at this point, or they may try to give you too little money for your trade-in. You can let them know that you will need to sell your old car before you buy a new one.
Putting together an offer on a car is a lot of hard work for a salesperson. Just as you are anxious to get your new car, they will be anxious to get a deal. A salesperson on the verge of closing a deal is likely to be more pliable then they would be when you first walked in the door. You might be able to get more money for your trade-in if you are a wily and informed consumer.
Sell Your Car Online
There are a lot of different websites that give you the opportunity to sell your car. Each of these sites has its own advantages and disadvantages.
Craigslist has long been a go-to website for selling items large and small. It will cost you a mear $5.00 to list a car with this popular site. However, you will find that you have a lot of competition. Remember to get as much information as you can about a buyer before meeting them. There have been more than a few robberies and other altercations that have resulted from Craigslist meetings.
Facebook Market place is a viable alternative to Craigslist. Anyone who has a Facebook account can sell their car this way. Just go to https://www.facebook.com/marketplace, select the option to sell, and then select vehicles. It will ask you a series of questions about your car and then it will allow you to upload some pictures. It will suggest a price and allow you to post your listing on certain Facebook Groups. People prefer it to Craigslist because you can see a potential buyer’s Facebook profile before they come to your house to look at your car.
People who have listed their cars on Facebook Marketplace like the convenience of it, but they say that low ball offers are common. Facebook will charge you a 5% fee if you sell your car and you will not see the money for a couple of weeks.
There are still a lot of fake profiles on Facebook. It is a good idea to meet potential buyers in a public place if they want to look at the car.
This is one of the most well-established websites for car sales. If you list with this company, your ad will be syndicated to many newspaper’s websites around the country. They have a free option for the first 30 days. There is a $20 package that includes a sixty-day run and 10 photos. The deluxe package is $49 and includes a run of 150 days, 15 photos, and a Carfax report. The site provides an option for you to sell your car to a dealer and it provides a tool to determine the value of your auto.
Although all that exposure sounds good, Carfax is a national site, so there are an awful lot of people listing their rides. It also may be hard to find a buyer for your car who lives in your area. Therefore, it can take a very long time to sell your car via Cars.com.
You can now sell your car on eBay. It costs $100 to list your car on this site, but vehicles are sold faster than they are on cars.com. Remember that bids on eBay are not binding and a person can withdraw their offer at any time.
AutoTrader started out in print many years ago and it is one of the most established ways to sell a car independently. They charge anywhere from $12 to $45 for a listing. For an additional fee, they will allow you to post extra pictures of your car. You can also buy a spotlight ad that will feature your vehicle in a prominent position.
The site’s long history means that they are less prone to scams and looky-loos. As with any advertisement, you will have to pay, but you will not necessarily sell the car. You may want to consider how long moving the car will take you and if you can afford it. If you are buying a new car, you should think about where you will park the old one while you are trying to sell it.
Shoppers and Community Boards
You can always try to sell your own car by putting advertisements in shoppers around town. Prices for the ads very, but you are sure to reach a local crowd this way. It is not considered the best way to sell or buy a car. You generally won’t be able to put a photograph of your car in the ad and there is no real vetting process for buyers and sellers.
You can also put up flyers at laundromats, coffee houses, and on community corkboards. You will get people who are right in the neighborhood, but you may get people who are not taking car buying very seriously.
If you use this method, you are likely to get multiple phone calls inquiring about your vehicle and you may have to show the car many times before selling it. In addition to the inconvenience of having to make the time to show the car to multiple people, safety is also a concern. Never meet anyone at your house and always make sure a friend or family member knows where you are going to be.
People who purchase their cars this way may not have the best credit, so get cash and not a check. They may also try to haggle with you to get you down to a lower price.
Donate Your Car
In addition to making you feel good about yourself, donating your car may sometimes be the best option financially. The charity to which you donate your vehicle will be able to provide you with a receipt that you can use for a tax write off. Depending on your financial circumstances, this may be the best option.
There are trade schools that can use your car to help train future mechanics that may be interested in donations. KarsforKids is an affiliate of the Make a Wish organization. Cars may be used for transportation within the organization or they may be sold to help fund their works.
The organization will tow away your car for free and you will receive a vacation voucher for a three-day, two-night getaway.
Sell Your Car to Us
Cash Cars Buyers can give you a great price for your used vehicle. We are primarily interested in cars that were manufactured between 2002 and 2018. Our process is very simple and our employees are friendly and knowledgeable.
How it Works
When you are ready to sell your car, simply fill out our online form, it only takes a few minutes. We will ask you for your name, email address, and phone number. We will ask you for the make model, year, and VIN number of your car. We will also ask about the car’s general condition. You will get a call back from us right away and we will make you an offer. If you accept the offer we will make an appointment to come and pick up the car.
When our employee comes to your house, they will perform a quick inspection of the vehicle, pay you in cash, and tow the car away. Click below to get started today.