If you need to sell your car and get rid of it quickly, then you have a few options available to get this deal done. That said, you must keep in mind that the faster you try to sell your car, the more likely you’ll settle for a lower price. On the other hand, by being disciplined and attentive, you can get more cash for your car than you would with a panic sale.
1. List it online.
Websites such as Craigslist are terrific places to list your car. Take this step first, giving as much detailed information about your car as possible. Include several interior and exterior photos, concentrating on the front, front three-quarter, profile, rear three-quarter, and rear angles. Offer closeups of the wheels, any outstanding trim, and the exhaust panel, if special. On the inside, take photos of each row of seats, the dashboard, the instrument panel, and the color display. Next, pop the hood to photograph the engine compartment. Do likewise with the trunk or liftgate. At least 12 clear shots of the vehicle will give potential buyers the information they need. Also include a list of vehicle highlights, such as the engine type, transmission, safety, comfort, and tech features. Finally, do not forget to include your contact information (e.g., phone number and email) and post the asking price. Share your information to other sites, including your Facebook account.
2. Contact used car dealers.
While your car is listed on Craigslist, reach out to two or three local car dealerships to gauge whether there is interest in your vehicle. If there is, bring your car in for dealer inspection, but don’t accept an offer immediately. A competent dealer will give you 24 hours to consider their offer. Meanwhile, entertain offers from Craigslist and other online contacts. Take your vehicle to other dealers interested in your ride as well.
3. Call car-buying companies.
Businesses including Carmax, Vroom, and Carvana consistently buy cars from consumers to restock their inventories. As you would do in the second step, make contact with these businesses to determine interest in your car. Examine the contract carefully to determine whether they charge for pickup.
4. Weigh your offers.
If your car is in good running condition and is in high demand, then consider your offers following the first 48 hours of your online postings. Should you receive a price that is within your range, then accept the highest bid. If not, keep the ads running or negotiate with a potential buyer for a higher price. Ideally, you will have several parties interested in your ride with strong offers following.
5. Let’s make a deal!
Once you agree with a buyer, then make the deal. You’ll want to receive cash or a bank check to close this transaction. If there is a lien on your car, you’ll need to satisfy that requirement first before the title will be released to you. Sign over the title to the new owner, remove your personal information from the glove box, and take the tags (license plates(s)) with you. Contact your auto insurance company to drop coverage. Return your plates to the DMV.
Get a Move On!
Undoubtedly you can sell your car fast if you are motivated to do so. If your car is not in working order, it may still be of some value to someone. For instance, contact local salvage or junkyards to get a price for your car. If you prefer to donate your vehicle, then call up an IRS-recognized charitable foundation and take the tax deduction instead. Your tax accountant can help you declare an important deduction that may offset some of your tax burdens.
