Want to Sell Your Car On Your Own?
In this business, we have some customers that decide to purchase our vehicle but prefer to sell their vehicle rather than trade it in. That can be a great thing if you have someone in mind that is ready to purchase it. Here are some things to keep in mind when looking to sell your vehicle on your own:
Is it worth it? What is the dealer offering you for it on trade compared to what you feel you can sell it for and keep in mind rarely will someone pay you what you asking.
Make sure you do a little research and see how many vehicles are on the market that are similar to yours. If there are a bunch, it might be tougher to sell, but if there aren't many available and it is a desirable car than it might be worth trying to sell it.
Along those same lines always remember there are more potential buyers for a $5,000 vehicle compared to a $15,000 vehicle and even fewer buyers for a $25,000 vehicle.
Also, remember that you are now the salesperson. People are going to approach and / or call you about your vehicle, want to drive your vehicle, and, worst case scenario, be calling you about issues after they purchase the vehicle. Always make sure to write up a bill of sale and include that it is an as is sale even if the vehicle still has a warranty on it. The reason you should do that is any warranty would be between the new owner and manufacturer or warranty company.
Then you need to think about marketing and advertising your vehicle. There are some viable options with the internet that can cost little to nothing but can also attract scammers. There have been reports of people being assaulted or killed by a "buyer" that showed up because of an internet listing so be careful. And traditional advertising like the newspaper can be expensive. Word of mouth or a "For Sale" sign with the vehicle parked next to a well-traveled area are probably the most effective.
Lastly in regards to accepting payment for your vehicle be very careful about taking payments from the buyer (if a bank won't finance them that should be a red flag). If the payment is a check make sure it is good before releasing the vehicle and signing the title, with the technology out there these days even a cashier's cash could be counterfeit.
Good Luck and Good Selling!
Source: Birdnow Blog