Every year in the U.S., roughly 40 million used cars change hands.
As a car owner, there are a number of reasons you might want to sell your car. Perhaps you’re in a cash crunch, or maybe you’ve had your car for a while and it’s time to upgrade to something newer.
Regardless of your reason, selling a car isn’t as simple as firing up the engine. Many processes and paperwork are involved.
Read on for an easy guide on how to sell your car.
1. Sort Out the Paperwork
You need a clear title to sell your vehicle; otherwise, you have to involve and get the authorization of any other party with whom you have joint ownership.
So if you bought the car with an auto loan and you haven’t cleared it, do so. The lender will transfer full ownership to you, giving you the right to sell it.
A car can also be loan-free, but still have other types of liens, such as a mechanic’s lien. Iron out such issues with the party that placed the lien and ensure your title is clean before moving to the next step.
2. Appraise the Car
An appraisal is a process of determining the current market value of an asset. You can hire a professional car appraiser to determine the value of your vehicle, but there are free digital car valuation tools you can use as well.
If you want to improve your chances of making the most money from the sale, there are some steps you can take to increase the car’s value. For example, giving it a new coat of paint and making cosmetic repairs can make it look newer and more attractive. Even a proper scrub and some polishing can make a big difference.
3. Advertise Your Car for Sale
Your ride is ready to go on sale. How do you find a buyer?
The good old method of sticking a “For Sale” sign with a contact number on the car window can yield some calls, but in the digital age, there are more effective ways to sell your car quickly.
Your social media is a good place to start. Take high-quality photos and short clips and post them there, together with detailed descriptions of the car’s specs.
There are also specialized car trading websites, such as one run by this company, where you can post your car and get an offer in minutes.
4. Close the Deal
Once you’ve received an acceptable offer, set up a test drive, and if the buyer likes it, close the deal. Ensure the buyer transfers the full amount to your account before you sign over the title to them. You can use an escrow service to do the transaction.
That’s How to Sell Your Car the Easy Way
Selling a car today isn’t as difficult as it was decades ago, but it’s still a multi-step process that can take days. With this guide on how to sell your car, you now have a good idea of what to expect.
Good luck and keep reading the blog for more handy tips.
Alison Lurie is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.