Guide: How to Sell Your Car
There comes a point in every American adult's life when their car, no matter how beloved, has simply grown too old and it’s time to upgrade to a newer and fresher ride. What happens to your old car though? It’s not as if you just throw it in the trash, after all.
In fact, though it’s less glamorous, selling your old car can be as important a financial decision as buying your new one. Just because it’s no longer the right fit for you doesn’t mean it won’t be for someone else, and cars are expensive and long-lived machines. Today we’re going to go through a few tips on how to get the best price on your old car.
The first step to selling your car is to know how much it’s worth so that you don’t over or underprice it. The fastest and easiest way to do this is simply with an online used car guide, Kelley Blue Book being the most popular and comprehensive. Simply input your car’s age, make, model, and how many miles it’s driven and Kelley Blue Book will show you what other similar cars in your area are selling for.
Before putting your car up for sale, you want to be sure that you have all the necessary paperwork for your car gathered and organized. Cars can have a surprisingly high amount of related paperwork, so it’s best to get started on this as soon as possible since some of it may take a while to scrounge together.
Prep Your Car
There’s nothing like a good first impression. To make sure that your car is as attractive to potential buyers as possible, take the time to clean the inside thoroughly and wash the outside till it shines. It’s also often worth it to have your car inspected by a mechanic, just to be sure that nothing is rattling under the hood during a prospective buyer’s test drive that might scare them off. A little work now can go a long way towards making money later.
Finally, it’s time to actually put your car on the market. In today’s internet age, the easiest way to do this is to list some combination of Craigslist, Auto Trader, and Cars.com. Each is popular enough that if you’ve priced your car correctly (see the point above about researching pricing) you should start generating interest quickly.
Even with the above tips though, it may take some time for your car to sell, with false starts and stutters before it does. And that can cascade into severe cash shortfalls and problems for the rest of your life. The best way to smooth over this rough period is with a flex loan. Tennessee flex loans are short term, fast cash loans designed to bridge the gap in emergencies, and are a perfect way of handling whatever cash flow problems you have before your car sells.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.