Simple Steps to Selling a Car

Privately selling a vehicle you wish to get rid of can seem like a complicated and difficult task to take on. And although selling a vehicle to a dealer is much easier than doing so privately, trading in at a dealership almost always forces the seller to take a hit on the transaction price. On the other hand, private vehicle sales usually end in a win-win situation, since the seller gets more for the vehicle, and the buyer often pays less than they would for the same used car at a dealership.

Here are 10 steps to make the process of privately selling a vehicle a little less intimidating:

1. Know the market. It will save a lot of time and make the selling process much easier if you are aware of whether or not your car is in demand, and how quickly it should sell. Also be aware of the time of year, since some cars (like convertibles) will sell better during the summer months, while others (vehicles with 4WD) will do better in winter.

2. Assess the vehicles condition and price competitively. There are many tools available online to help with this process. You should also price the vehicle slightly above what you are willing to settle for to allow for negotiations.

3. Prepare the vehicle to be sold. Have any work done that needs to be taken care of and clean the car, inside and out.

4. Know state laws and regulations for selling cars.

5. Advertise.

6. Evaluate prospective buyers. Use your best judgment when talking to people who are interested, and avoid those who seem pushy, unreasonable, or shady. Agree to a meeting time and place with buyers you are interested in.

7. Conduct a test drive, but make sure it is safe and well-planned. It is not a bad idea to bring someone with you, and do not let the prospective buyer take the car alone. It is also a good idea to drive the car for them first, so you can explain the controls.

8. Get to know the buyer and learn why they are interested in the vehicle. Doing so can help you relieve their doubts, and also judge how interested they really are.

9. Negotiate the price and handle any complications. If the buyer discovers something that needs to be fixed, you may want to lower the price of the vehicle for them.

10. Finalize the sale.