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.
Expand All Guide SectionsPreparing 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.
Dulcinea's Insight
- 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.
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.
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.
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.
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.
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.
Sell a Car Online
Now that you’re familiar with the intricacies of selling your car, it’s time to put yourself out there by placing your ad on the Web. There are a number of sites that allow you to list your car. They vary in many ways, including the services and features they offer, and the cost (some let you advertise your vehicle for free, others can cost more than $100). So the question now becomes, which service should you use?
Dulcinea's Insight
- Most sites charge sellers a fee for taking out a classified ad. Fees vary greatly in size and structure, with some coming as flat rates and others that must be paid weekly for as long as the listing is up.
- When using the sites listed below to sell your car, it’s always good to browse the cars that are already posted, especially those similar to yours. That way you can see what prices cars comparable to yours are selling at. But don’t feel forced into asking for a lower bid than someone else who has the same car and model, because if your car is in superior condition you should be compensated for it—just make that clear in your advertisement.
- An article from the FOX Business Network on selling your car lists the statistics for some of the most popular car sales sites to help you choose.
- When selling your car, also consider an online auction site, which allows prospective buyers to bid on it. eBay Motors is one such site.
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For selling a car online …
AutoTrader.com
is a used car marketplace with a massive listing of more than three million cars. Use the classified ads and value calculators to help you determine the proper asking price.
Cars.com
is a user-friendly site with an intuitive structure. Read the site’s “Seller’s Guide” to learn how to create a successful ad with tips on pricing and preparing your car for sale.
CarsDirect
is a car buying and research site with more than half a million listings for new and used cars, and the CarsDirect's interface is simple and easy to use.
AutoNetUSA
is a simple online used car classifieds hub. You pay $24.95 to have your ad remain on the site until your vehicle sells.
For selling classic and vintage cars …
Hemmings.com
is the online home of Hemmings Motor News, an automotive magazine. Classified listings of more than 30,000 classic cars, along with 10,000 car clubs and a dealer showroom with listings from more than 130 classic car dealers around the country, make Hemmings.com one of the most comprehensive collector car marketplaces on the Web. Subscribers to one of Hemmings’ publications are eligible for a discount on classified ads; use the “Place a Classified” link on the left sidebar to learn more.
duPontREGISTRY.com
is a classifieds marketplace for exotic, high-end new and used cars. Visit the “Sell Your Car” page to choose from a variety of ad packages.
OldRide.com
calls itself “your online classic car community.” Sell your classic car or car parts and accessories to an audience of classic car enthusiasts. Registered members can advertise their vehicle for $9.95 and renew the ad for free until the vehicle sells. Visit the “Sell” page for more information on placing car ads or learn more about free registration.
CollectorCarTrader.com
, part of the vast selling and buying network of TraderOnline.com, specializes in classic and collector cars. Use the “Sell” link on the top navigation bar to see the four different ad packages available; prices range from $50 to $104.
How to Trade In a Car
If you’re planning to sell your car, you’re not limited to posting an ad online. Trading in your vehicle is an alternative. Learn about this option and more in this section.
Dulcinea's Insight
- By trading in your car, the price of your new car is reduced. But keep in mind that selling a car yourself, though more time consuming, is bound to leave more money in your pocket, partly because the dealer seeks to make a profit as well by reselling the car.
- The benefit to trading in your car is convenience. You avoid all the hassle related to selling a car yourself.
- You may also want to speak with your local dealerships about auto consignment. With consignment, a third party sells your vehicle for you. Simply indicate the lowest acceptable price, and the third party takes the profit margin.
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Automotive.com
offers this quick overview of how to trade in a car. Find a heap of advice on trading in your car, and some important warnings you should heed.
MSN Autos
examines trading in versus selling your car. The site’s article acknowledges that trading in your car is a convenient option, whereas selling it is profitable. Also read about consignment and selling your car to charity.
DMV.org
also brings up some interesting and helpful points about trading in your used car. Scroll down to “What the Dealer Is Thinking” to gain insight into how a dealer arrives at a price offer.
Car Donation
If you don’t want to sell, trade in, or consign your car, there’s another potentially more rewarding option: donate it to charity. Organizations abound that ask for car donations; they usually sell the cars themselves and give money to charity. Not only will you feel good about yourself, but chances are you’ll receive a tax deduction.
Dulcinea's Insight
- Donating your car to charity is convenient—the organization usually handles all the transport, and sometimes even your paperwork and tax forms. However, as CarBuyingTips.com cautions, there may be a better way to transform your old car into a monetary donation. Scroll down near the bottom of the page to find “Warnings About Donating Your Car To Charity.” The article states that charities often have consultants who auction donated cars for them, and that these cars are usually sold at below market value. The article advises that it may make more sense to sell the car yourself, for the highest price possible, and then donate that money to charity.
- If you do decide to donate your car to charity, be careful: make sure you are dealing with a legitimate charity, and see that your donation is being spent wisely. You check check the trustworthiness of a charity on the Better Business Bureau Web site.
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For an explanation of the process …
eHow.com
provides a quick overview on how to donate your car to charity. Read the four easy steps, learn what to look out for, and get a few tips and words of caution.
For some charities that accept car donations …
Outreach Center
provides funding support to children’s programs around the country, including programs like the United Way, Ronald McDonald House, and the National Childhood Cancer Foundation. When you donate your vehicle to the Outreach Center, the money is donated to one of these worthy programs. Learn more about making a tax-deductible donation on the “Frequently Asked Questions” page.
Kidney Cars
, a program of the National Kidney Foundation, is a used car donation program that directs donations toward fighting kidney disease and boosting the number of organs obtainable for transplant. The site asserts that in 2006, the Foundation garnered more than $11 million from about 40,000 car donations.
1-800-Charity Cars
won the Walt Disney World Outstanding Community Service Award. This program works to give disadvantaged families free cars or car services. If your car isn’t suitable to be donated to a family, due to certain deficiencies in repair and mileage, for example, then the organization will auction off your car and the money will go to the charity.
© 2012 Dulcinea Media, Inc.
