Preparing to Sell a Car

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Selling a Car

A new car loses significant value the second you drive it off the lot—generally between 20 and 30 percent. So when it comes time to sell your car, you want to eke out every salvageable penny. The Internet makes it easy to show your car to a vast audience of prospective buyers. This Web guide will show you where and how, and will also teach you about some other viable options, such as trading in your car or donating it to charity.

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Preparing to Sell a Car

The Web is cluttered with used car ads at all times, and you need to find a way to differentiate yourself. At the same time, you must make sure you are following the proper procedure. But no need to worry: the Web abounds with important tips and caveats you need to know to make a successful transaction, including how you should estimate the value of your car, and where you can obtain a vehicle history report.

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The laws for transferring a car title are different from state to state. Before you finalize your sale, be sure to contact your state’s DMV or go to your DMV’s Web site. Take a look at this directory of DMV Web sites for the 50 states.

If you’d like to find a service to transport your car after you’ve sold it, visit TransportReviews.com for ratings and reviews of vehicle transport services.

When transferring money, some of the sites listed below suggest using an escrow service, where a third party handles your money. Make sure to avoid any potential scams and get advice on how to handle escrow payments the correct way.

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For an overview and tips …

Edmunds.com has an article that provides an introduction to car selling. If you only visit one site, this should be it. The information presented is clear, concise, and well organized.

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HowStuffWorks provides users a step-by-step guide to selling a car. Find easy-to-digest, credible explanations of the different issues involved in selling a car.

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ConsumerReports.org contains a forum for people to discuss the process of used car buying and selling. Look for numerous posts on selling a car, where people share their tips and warnings.

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For estimating the value of your car …

Kelley Blue Book can appraise the value of your used car for you. Insert information like year, make, mileage, and condition, and it will estimate the trade-in value, the private party value (what a consumer will pay when buying from a private party), or the suggested retail value.

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NADAguides.com , from the National Automobile Dealers Association, is another tool to help you calculate the selling price of new or used vehicles. Also find other resources for the car buying and selling process, such as the most popular used cars, free VIN checks, information on certified pre-owned cars (CPOs), and tips and advice for buying and selling.

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For obtaining a vehicle history report …

CARFAX allows you to obtain a vehicle history report. A vehicle history report summarizes your car’s service past in one document. Having one handy to show a prospective buyer is a useful way to prove your car’s value (assuming there’s nothing in your car’s past that you wouldn’t want a buyer to see). Just enter your VIN number into the search tool. You can order a single vehicle history report for $24.99, or unlimited vehicle history reports for $29.99.

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