Sunday, January 4, 2009

GET TOP DOLLAR! For your old car...

First and foremost, clean that old junker top to bottom, and inside and out. Sometimes you get so used to a car being less than clean that you don't even realize how dirty it is. Vacuum it, break out the armor all and the car polish. Clean it to the point where you reconsider selling it, then you'll know its ready for the market.

Next, you'll want to do a quick overall evaluation. Does the a/c work? Is there any major body damage? How about your states inspection laws? If it's in need of a new inspection, and it won't be too costly, consider inspecting it. Especially with older cars, these steps could not only increase the value substantially, they'll also make the vehicle stand out in the mind of perspective buyers when they mentally compare it to other cars they've looked at.

Now that you've got a nice older car, you need to figure out what it's worth. I'd recommend Kelly Blue Book, www.kbb.com, as a good resource for a starting point. Make sure to input all the information specific to your vehicle, everything that still works. If your car is in good shape, consider starting somewhere between the suggested private sale value and the suggested retail value. Remember, potential buyers will often try to negotiate down the price; rarely do they offer you more then what you're asking. The bottom line is don't shortchange your car. If it's clean and runs well, people will pay!

In addition to Kelly Blue Book, there are a number of other sources available to you for determining price. First, you could try your local paper to compare your figure with other similar vehicles listed by other sellers. Second, pick up the phone and call local dealerships to see if they have any cars on their lot like yours and, if so, what they are asking for them. Often times, if you call the car dealer for the brand you are trying to sell, most sales people will be happy to help you with establishing a value for your car. **CAUTION** They may try to suck you in by saying something like, "Just bring it down so we can have a look, " or, "We'll give you retail for it just stop by." Remember the example from my last post of why you're doing this in the first place, and avoid the lots until your ready.

Next, organize and write up your car's information. Get yourself some cheap signs or maybe some shoe polish. In my experience, the best way to do this also happens to be completely free, and very easy. This is the secret message you need to put on it to attract buyers. Go get a pen quick! Are you ready? "FOR SALE." I'd recommend putting the price on it. Also, use your computer and print out a description of the car. The description should have make, model, year and mileage. Next, list the maintenance information from everything you've done, any damage, or serious faults the car may have. Don't forget to put your telephone number on there somewhere.

Next, you need to make your car available to the largest number of perspective buyers. If you have a friend or relative that lives along a busy road, ask them if you can park it there for a few days. If you don't have access to a busy road and you live in a low crime area, consider a well lit parking area or a location where you've seen others leave their car when they are trying to sell it. Just be cautious if you choose one of these options because you do increase the risk of vandalism or possibly even theft.

If you don't get any interest after a few days, it's due to one of two things. Either you're asking too much and you need to reevaluate the value you came up with. Or you're simply not reaching enough potential buyers. Consider a cheap add in your local paper's classified section, or a website that will list your car, or even Ebay. I'll do some other research and try to add some potential websites to list your car on in the near future.

If you follow these tips you should be able to get top dollar for your car, and have an even better down payment if you're financing your new vehicle.

Good luck

YourCarBuddy

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