Selling your extra car is an easy way to clear space and get rid of unwanted clutter. You can sell it to a professional in your locality, or you can sell it yourself to free up space.
Regardless of your reason for selling, here are a few tips:
If you’re looking to trade in your extra car, one of the first things you need to do is determine your negative equity. Negative equity is a major issue for people trying to sell their cars because it means that they have less equity than they originally had.
In order to make up for this, you can either buy a cheaper vehicle or trade-in your car. In either case, you need to be ready to accept the lower price for your car. If you’re paying negative equity for a new car, you can also trade it in for a leased one.
A lease will allow you to factor the outstanding loan amount into the new lease. This way, you don’t have to worry about depreciation or resale value. The downside to leasing is that the leased vehicle goes back to the dealership at the end of the lease.
If you’re selling your extra car, you’ll still need to pay off your negative equity.
Downsizing to One Car
While a downsized vehicle may sound difficult, it can actually be a great budget relief. If you own more than one car, you may find yourself paying more for insurance than you need to.
In fact, a 2014 study by KPMG showed that fewer than half of American households will own more than one car within 25 years. Downsizing to one car can significantly lower your insurance rates and overall costs.
Selling to a Dealer
For the easiest way to get rid of your extra car, sell it to a dealership. Many dealers will buy your car for cash or trade it in. With a current shortage of used cars on the market, dealerships are scrambling to fill their lots. We suggest you take tips from we buy junk cars west palm beach.
Dealers will make you the most money possible for your car. To get the best price for your car, follow these tips when selling it to a dealer. First, make sure you’ve done your homework. Check out the value of your car by using the Kelly Blue Book.
You can also use a website like San Francisco Honda to get a trade-in value tool. Be flexible and be willing to negotiate. Remember, selling a car isn’t a “get rich quick” scheme, so be prepared to deal with a few rounds of negotiations. Then, decide whether you’d rather sell the car or take the money.
Selling to a Friend
It is tempting to sell your extra car to a friend, but there are some things you should keep in mind before doing so. First of all, you should check the car value sites to determine what your car is worth.
You can use websites like Edmunds, Kelley Blue Book, and NADA to find a private party price or trade-in value. A few other options to consider include sites such as CarMax or Edmunds.
Kelley Blue Book Instant Cash Offer
If you want to get top dollar for your extra car, you can try selling it with Kelley Blue Book Instant Cash Offer. This tool will generate an offer for your extra car and contact you within two minutes. Then, the system will contact the dealer on your behalf to set up an appointment and complete the transaction.
It will also provide detailed reporting about the transaction. And, it does all this without you having to deal with the dealership staff. The Instant Cash Offer is based on similar vehicles sold in your area, including dealer sales data, auction prices, and private seller price ranges from local advertisements.
It is valid for three days and you can redeem the offer at any Participating Dealer within that time period, pending inspection.
The amount of your Instant Cash Offer will be subject to change if your car’s mileage, condition, or market value changes. This process may take longer during periods of heavy volume.