Car Buying Tips Blog: Find reliable car buying tips & information from the auto industry, and use them to your advantage. Also find car buying tools, reviews, insider advice articles, & research new car prices on BuyingAdvice.

Monday, July 15, 2024

How to Get the Most Out of Selling Your Old Car

Planning to get rid of your old vehicle? Some people make the decision of selling their old car instead of trading it at the dealership, while others prefer the more convenient way of handing over their old car keys to the car salesman.

In this post, we will teach you how to get the most out of selling your old car.

If you decide to trade the vehicle at the dealership:

1. Don’t talk about the trade-in value of your old car, unless you have already negotiated the price of the new car that you want to buy. The salesman will use the trade-in value of the old car as a weapon to confuse the buyer. If you want to avoid being scammed so you can get the most out of your trade-in, remember to talk about the price of the new vehicle and your financing options BEFORE negotiating the trade-in.

2. Be prepared. The dealership will most likely offer a lower price for your old clunker–probably lower than the perceived market value. How will you know if the dealership is offering an unfair price? You should conduct your research online. Asking for a used car quote is a free and easy way to find out the average price of used vehicles.

If you decide to sell the car yourself:

1. Similar to trading the vehicle at the dealership, you should also know the average market value of your old vehicle if you are planning to sell your old car.

2. Remember that low mileage vehicles can fetch a higher resale value depending on the make and model of the vehicle.

3. Clean the vehicle thoroughly. Wash the car with mild soap and water. Use a vacuum cleaner to remove dust and dirt from the seats and carpets. While you’re at it, it is also a good idea to wax or polish the finish before selling the car.

4. Fix all electrical and mechanical problems, especially if you are selling the car at a premium. Of course, if you are going to demand more dollars for your used car, you should show the buyer that the car is free from any problems. Buyers like a used car that they can simply sit in and drive, without worrying about hidden defects and other unnecessary repair costs.

The choice is entirely up to you. Trading your old car is more convenient because the dealer will take care of the rest, including cleaning and repairs. However, if you are looking to get top dollar for your old car, you should remember the tips mentioned above.