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Selling Your Car
Use these tips to determine if selling your car on your own is right for you.
Start at the Mechanic. If your car requires expensive repairs, you may be better off trading it in or donating it. If repairs are minor, you may want to have them done rather than selling “as is.” You'll also want to gather up your repair records, or have your shop print them for you so the buyer has a good picture of the car's history.
Clean Your Car Thoroughly. Having a clean car will help show the buyer that you've taken good care of it. Remove any unneeded items from the car as well. Plus, top off the fluids.
Price Your Car. Determine the Kelley Blue Book value for your car. You'll get the trade-in value, the retail value and private-party value. Consider how good of shape your car is in and subtract any repairs, etc. from the price. You'll also want to research prices at Edmunds and check online listings for similar cars in your area.
Take the Potential Buyer for a Test Drive. Besides giving the buyer a true glimpse of the car's performance, you have the opportunity to talk about the car's best features. To protect yourself, take along a friend, or ask the buyer for their full name and driver's license number. You'll also want to be sure one of your insurance policies covers any liability.
Negotiate & Beware of Scams. Know how much you're willing to accept before you begin negotiating. Accept cash or a cashier's check from a source you know. If the buyer wants to wire you money, or is giving you more money than the asking price and wants you to wire the difference, this is likely a scam. Also be wary of a buyer wanting to buy your car without seeing it first.
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* APR is Annual Percentage Rate. Rates subject to change. Rates reflect .25% reduction for qualifying checking account.
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