Jpmap3 Business Do I Keep My Car or Trade It In? Kelley Blue Book

Do I Keep My Car or Trade It In? Kelley Blue Book

We’re going to take a look at the best ways you can sell a used car this year. We’ll also include some of the most common questions you may have about selling a used car. Buyers often want their mechanic to take a look under the hood. Getting a pre-sale inspection of your vehicle before you put it up for sale will equip you with information that a buyer will find if they want an inspection. It may also head off a buyer’s need to get their own inspection. Always bring someone with you for a test drive or even the sale of your car. Options like leather seats (assuming they’re in good condition), navigation, and alloy wheels can be used as selling points to enhance a vehicle’s value.

Best Ways To Sell A Car in 2023 (Step By Step Guide)

Kelley Blue Book has provisions to include those extras in calculating an accurate value. Converted into a 250 GTO later in 1962, it is the only one ever raced by Scuderia Ferrari, the carmaker’s racing division. Ferrari sold it to a Sicilian surgeon in 1964 for $6,000. A single-lot auction of a classic racing car that is considered the Holy Grail of Ferraris last changed hands in 1985 — for a fraction of the price.

However, it takes more time and work to be a private seller. You need to research your car’s value and provide a vehicle history report along with a bill of sale for the buyer. You’ll also have to spend time vetting buyers from Craigslist or whichever platform you choose to use.

Before going to the dealership, contact the lienholder to get a payoff quote for the vehicle, and note the payee address for the dealership to send the payoff amount to. Here are a few things you’ll want to know as you’re getting ready to sell.

Average Car Mileage

Satisfaction – Forget for the moment whether you have equity in your car; if you are satisfied with it, why unload it? Unless you paid too much for it or the interest rate (unlikely if you’ve had it for more than 18 months), you are probably better off holding on to it. Here are some reasons to trade in your car , as well as reasons to keep it . Consider all of the benefits and disadvantages when deciding whether to trade your car.

Consequently, right off the bat, you ensure you will be deeper upside down into the loan term of your next car. On the other hand, carmakers are getting back up to speed, and dealer inventories will continue to grow. And increased stock also makes dealers more agreeable to negotiate prices while providing a wider choice of models. The tricky part is guessing whether a used car’s value will rise or fall in the future. Usually, this isn’t a major undertaking because used car prices nearly always fall.

Make sure all the upholstery is clean and remove any spots if you can. For dog hair, sticky tape can do wonders removing them from hard to reach spots. If you have damaged or worn items that are highly visible , it’s best to repair or replace them before trying to sell the vehicle. Psychologically, buyers will think you maintained the car well as long as it looks good. This means making sure the car is spotless inside and out, and that all small repairs and blemishes have been taken care of. Doing so can easily put an extra $1,000 to $2,000 in your pocket. The pricing guides try to factor in geography, but it’s impossible to keep up with highly localized pricing trends.

Meet potential buyers in safe areas, such as well-trafficked retail or restaurant parking lots with security cameras. Local police department “online safe zones” can also be an option. Begin by posting your car’s Blue Book® Value followed by your asking price, then explain why you’re asking more or less than the Blue Book® Value.

If you cannot find your title, there are alternative options such as replacing it or using a bill of sale – see our guide on How To Get a Car Title Replacement. If the buyer wants to pay by cashier’s check, remain cautious about accepting them as mentioned earlier.

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Include information about the types of payment you can accept, including touchless online payments, certified checks, or an escrow service. Check local listings to see what other similar vehicles with similar equipment and options are selling for in your area. You may think your car drives and shines like new, but its value depends on its actual condition. It’s important to be knowledgeable and realistic about the sales price when determining how to sell a car. Falling used car prices – If used vehicle prices continue to decline , your car’s book value might decrease. Consequently, if you aren’t underwater now, you could be if prices don’t level out. Although there are exceptions to this rule — as there are for most rules — don’t trade in a car that is worth less than what you owe.