Whether you are planning to upgrade to a new vehicle or want to get rid of an older vehicle you no longer need, selling your car can be a great way to make some extra money.
Before you start thinking about where to sell your car, it is important to look up how much you can actually get for it. You might not be able to get an exact cost, but you can find a general estimate by looking at the Kelly Blue Book (KBB) value.
The KBB website allows you to enter your make, model and year of the car, along with the mileage, general condition and any extras parts you have added over the years.
This gives you a general idea of how much your car is worth, which can help you get a fair price no matter where you decide to sell.
Word of Mouth
One popular method of selling a vehicle is through word of mouth. You can start by asking your friends and family if they are interested in purchasing your vehicle.
Selling your car through word of mouth can eliminate a great deal of stress, since you won’t have to deal with strangers or negotiate back and forth.
Selling to someone in your trusted network also means there is less of a risk of being scammed.
Another option to sell your car is to take it to a dealership. If you are planning to get a new vehicle from a dealership, check to see if there are any trade in programs.
This is a convenient way to get rid of your car. However, when you sell to a dealer, you should expect to get less than the vehicle is actually worth.
Most dealerships only give you around 60 to 80 percent of the KBB value. If you do not mind taking a small profit hit, selling to a dealership is often the most convenient way to get rid of your old vehicle.
In addition to local dealerships, there is also a growing number of online dealerships. Many of the larger services will pick up your vehicle, while others require you to get your car to one of their warehouses.
There is typically less negotiating with an online dealership, but you will still likely get around 60 to 70 percent of the KBB value.
If you are trying to get the most value from your vehicle, consider selling it locally. There are many online websites where you can post your car listing.
The downside of selling locally is you typically have to meet with multiple potential buyers who will keep trying to talk the price down. You also have to be mindful of potential scammers.
Meeting local buyers can also be a hassle, especially if you do not want to meet them at your home.