
What Paperwork Do I Need to Sell My Car Privately?
June 27, 2023
How to Estimate the Value of Your Used Car
August 23, 2023Times have been unpredictable for anyone on the market for a car in recent years. Shipping delays, component shortages, and market shifts with the advent of electric vehicles–just to name a few. Things have been so out of hand that used cars sometimes are worth more than new ones.
This presents quite a challenge if you want to sell a car fast. Finding a reliable buyer, and getting a good used car price – it can all be overwhelming. Considering how valuable a car is as an asset, you could easily lose good money if not careful.
Never fear. In this guide, let’s discuss car-selling tips for getting rid of an unwanted vehicle for cash.
Determine Your Timeline
First, it’s important to consider what your timeframe is. Some options will allow you to sell a used car within a week. Others could take longer, upwards of a month.
Each option has its advantages and disadvantages–primarily with how much you can get in return. You also have to consider how much time you were able to spare for selling.
It depends on your schedule. If you’re a busy person, you may have limited options. Or, if you desperately need to get rid of it.
Options to Sell a Car Fast
There are plenty of methods for selling a vehicle these days. Generally, though, they come down to two main options:
- Selling privately to another individual
- Selling to a company (a car buyer, dealership, etc.)
Let’s discuss the advantages and disadvantages of each option.
Private Sales Advantages
Selling privately gives you more freedom and control of the process. It may also net you more ROI–if you are very patient.
There are a wide variety of tools and platforms for you to sell on. You can work through your own friend network or social media. Or, you can employ Kelley Blue Book, Craigslist, or some other professional listing service.
Private Sales Disadvantages
There is one major disadvantage to selling privately: the time commitment. This is usually not the fastest way to sell your car.
You will have your work cut out for you. You’ll have to spend hours getting your vehicle inspected and posting classifieds. That includes keeping constant watch over your postings–possibly for months.
You’ll have to respond to interested individuals and weed out hucksters. Many will request time slots to view or test drive the vehicle. There is guaranteed to be a ton of wasted time until you find the right buyer.
Plus, it puts the burden of any mistakes you make on you–such as getting scammed. Disgruntled buyers may seek you out if they are unhappy, or press charges. Dusting your hands off a vehicle could be challenging, nearing impossible.
Third-Party Sales Advantages
Selling to a third-party means could include selling to a dealership or car buying service. If speed is the most important thing to you, this is by far the best option to sell a used car.
Car buying services take care of the entire process for you. They evaluate the vehicle and give you a quote on its worth. If they decide to buy it–which they almost always will–they take it right off your hands.
It’s that simple. You get cold hard cash, and they get the car. Anything that happens afterward is their problem.
That means no wasted time fielding inquiries, making posts, or dealing with annoying buyers. Once the deal is done, you have no further responsibility. You get your money, and go about your merry way.
Plus, you can do it from the comfort of your couch. Many car-buying services work online.
Third-Party Sales Disadvantages
That said, selling to a third party may not be ideal. You have a much more limited market to sell to. While car-buying companies do try to stay competitive, you may not get the maximum return on your ROI.
However, there is something to be said for the convenience and ease of the process. Time is money, after all. If you spend countless hours trying to sell your vehicle alone, that’s lost money.
With all of that in mind, let’s talk more about the process of selling a car fast.
What’s Your Car Worth?
First, take some time to get a realistic figure for your car’s overall worth. This will help you avoid getting a lowball offer. You’ll be in a better position to bargain if you can point to a market value.
It’s incredibly tricky, for any vehicle, to get more than a ballpark. Keep the following factors in mind:
- Mileage
- Year and model
- Paint condition
- Wear condition on parts like tires
- Interior condition
- Modifications
Consider using a service like Kelley Blue Book for a marketable estimate. KBB is an industry leader, one that professionals trust very highly. If KBB says your vehicle is worth $20,000, then don’t accept anything less.
Car Depreciation
Most car models tend to depreciate over time. In select cases, though, a specific model may only appreciate throughout the years. Prepare a vehicle, regardless of mileage, to lose more value the older it is.
Consider Some Fix-Ups
The car is a lot like a house. Small repairs and modifications can often increase the value. If the tires are bald and the transmission nearly shot, your car will be worth much less.
Consider making some small fix-ups to your vehicle before selling. For example, swapping out a dead headlight or putting in some car seat covers. These small, simple changes can sometimes add a considerable amount to your selling price.
Also, definitely give your car a wash and vacuum. A dirty car does not inspire much confidence in your buyer. On the contrary, it suggests that you have not taken care of it.
Disclose Any Issues
Be honest about any major issues that the vehicle has. If there are engine troubles, disclose them. It’s your obligation to provide an honest accounting of the vehicle’s integrity.
This is not just an ethical thing to do, it keeps you out of hot water. A buyer could potentially sue you for giving false or incomplete information. Save yourself the trouble and be transparent.
If your car has significant damage, don’t lose faith. Car buyers often purchase broken or fixer-upper vehicles. You have options, here, in the worst case scenario.
Mention Loans or Leases
Are you still making payments on your car? You can still sell it to an online car buyer. However, you will need to include details about your loan and repayment situation.
Like selling a house, you get the full value of the vehicle. Just be clear so there is no confusion during the transfer. If you have negative equity or significant debt, this can help to relieve yourself of the burden.
Get Your Documents in Order
Selling your vehicle will require having the registration, title, as well as insurance information. It will be impossible to transfer ownership without the first two. Whether you sell privately or to a company, you will need these documents.
If you don’t have these documents on hand, get them ASAP. A replacement could take some time to obtain. The longer you wait, the longer it will take to sell your vehicle.
Take Some Good Photos
Think of all the car commercials you have seen over your lifetime. They feature the vehicle in pristine condition, speeding down highways with gorgeous backdrops. Whether or not the vehicle is that good, it makes you think more highly of it.
In the same vein, make sure to get some good photos. Most smartphones these days make it very easy to take a high-quality image that portrays the car in its best light. Photos that are blurry or grainy simply will not cut it.
Choose the Right Angles
The angle at which you take the picture can tell a lot about a vehicle. Consider using angles that better complement a car’s curves and exemplary features.
You are attempting to advertise this vehicle to a potential buyer. Do your best job. Google pictures of cars for some inspiration on how to best portray it.
Take Some Technical Close-Ups
Potential owners will want to know the state of the vehicle–especially when buying online. They will be relying heavily on the pictures. So, snap some shots that give a closer look of the major vehicular components.
Take a picture of the grille, the engine, and the tires. Take front and side view shots. Give a clear, well-lit shot of the interior.
This will help you stay accountable to the buyer. Pictures that give away plenty of detail show that you have nothing to hide. Any issues are in plain view for them to see.
Shoot Video, Too
Video is also a helpful means for a buyer to assess a vehicle. Shoot footage as you walk around the vehicle from front to back. Pop open the hood and the doors as well to show the inside.
There is a natural skepticism with pictures these days. Whether with Photoshop, editing tools, or filters, people can falsely portray a vehicle. A video helps to reestablish trust and shows you have nothing to hide.
Steps to Sell Your Car
With all these tips in mind, it’s time to sell! Let’s discuss the process from beginning to end.
1. Find a Buyer
Since you want to sell your car fast, let’s suppose you’ll use a service. It’s time to find a service that you can trust.
Take the time to research their process. It usually follows a similar format, but you want to have a full understanding of what you’re getting into. Shop around, since you have a lot of options to choose from.
2. Provide Pertinent Information
Collate everything that you have gathered at this moment. All of the vehicle information, pictures, documents, and so on. Provide whatever specifics the car buyer asks for.
3. Get a Verified Offer
Usually, a car buyer will provide an offer within a very short window. At most, you’ll wait a week–though in most cases only a day or two.
Compare this offer to other car buyers. There is nothing stopping you from getting the best price possible. By shopping around, you can bargain for better.
However, don’t haggle too much. You could weaken your position. Understand, though, that offers are typically final.
4. Convey Ownership
Once you have agreed to the offer, it’s time to transfer ownership to the buyer. You will need to provide the documents that we mentioned. The sooner you provide the required legal information, the quicker you get your money.
5. Arrange for Pickup
The buyer should arrange for a time to drop by and inspect the vehicle. If everything is in order as agreed to, then you are good to go. The buyer will hire someone to pick up the vehicle and take it off your hands.
6. Receive Your Payment
At this point, you are basically done. You should receive full payment for your vehicle through the agreed-upon method. Check to make sure this payment clears with your financial institution before spending the money, of course.
7. Smile
Congratulations! You have successfully sold your vehicle and are free to leave that obligation behind. Whether you want to purchase a new vehicle, or put that money elsewhere, it’s up to you.
Consider recommending a car buyer if the process is smooth and painless. You could likely save your friends from a similar headache, too, if they need to sell a vehicle. Spreading the word benefits everybody.
Sell a Car Fast with Carbuyer L.A.
Nobody wants to spend months and months going through the rigmarole of selling a vehicle privately. You can sell a car fast with a car-buying company, but there are some things to keep in mind. Use this article as a template as you go about the process, and you can maximize ROI and convenience all at once.
Carbuyer L.A. makes the car-selling process as painless as possible. We give you straight cash–and no nonsense–for your vehicle. Get in contact with us and set up an appointment to sell your vehicle today.