How to Sell a Car: 10 Steps for Success Kelley Blue Book

We’re not talking about a dent or minor fender bender, but rather a repair that cost at least $2,500 or more. When you arrive, our Branch Manager will greet you, perform a quick vehicle inspection and test drive. Afterwards, we’ll complete the paperwork and you’ll have your car sold in about an hour. CarMax, which offers a network of stores across the country and a wide selection of cars and SUVs to choose from. Each of them has a large audience and an interface that makes it easy to zero in on cars based on price, location, color, features etc. According to CarMax, the car’s title transfer may take up to 60 days but will most likely arrive sooner.

What is CarMax?

If your vehicle is regularly stored in a garage, it can be smart to have it professionally detailed. The alternative is to wash and wax the vehicle yourself.

A car’s depreciation rate, especially for the first several years, is the best gauge for keeping your ride or trading it in. At a point, some automobiles might begin to appreciate again, as in our 1969 Camaro example earlier. However, in nearly every case, if you keep a car long enough, it will depreciate to its scrap value. In other words, keep a car long enough, and its only value will be to a junkyard.

Autotrader.com

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Options will also be available for you to choose to reserve a test drive, buy and pick up the car or purchase and get delivery — which may or may not be free. Hundreds of thousands of customer ratings of their app particularly focus on the fast and easy process of selling a car. While their process relies on their brick-and-mortar locations, detracting from the experience as compared to other online dealers, the company still offers great value. Autotrader.com can be a great place to start when you want to sell your car! This online car buying and selling website connects prospective buyers with different car owners.

Learn new career skills while gaining an edge in today’s job market with Skills Builder for Work. On the other hand, new EVs and hybrid cars will likely swing in the other direction.

Once you bring your car to a location to be inspected and verify its details, you’ll be able to go home with the cash they promised. Overall, CarMax offers a good experience to buy a car and decent pricing compared to other major competitors. Their buying experience earned the company a top spot in our review, due to their platform’s user-friendliness and a large vehicle inventory for consumers to choose from. Their customer experience is also good, with many support systems in place.

Although they may not have a strong case, that doesn’t stop many buyers from taking legal action. Many sellers – particularly women, are concerned about having strangers come by to test drive the vehicle. Another disadvantage is the hassle of having to deal with payments, DMV paperwork, and the possibility of fraud during the transaction. Bottomline – you won’t be offered a great price for your vehicle, so you’re much better off trying to sell it yourself directly to the end consumer.

Buyers faced with a car with no logbook may worry that the seller has taken out a ‘logbook loan’. This involves borrowing money using your car as security, handing the logbook over to the lender as security until the loan is repaid. These can be checked against the car to make sure the logbook is for that particular vehicle. Americans spend a lot on their cars — common repairs average between $500 and $600, according to AAA — so those scams can be expensive. Survey respondents with luxury car s who reported scams lost an average of $1,275, while those with less pricey cars lost $764 on average. Repair costs – If the warranty on your current car has expired and you fear the costs of impending repairs, replacing it with a vehicle with warranty coverage makes some sense.

Cash is king but not so much for large transactions. Stick to online forms of payment, if possible, or escrow services. As a last resort, only accept cashier’s checks from reputable banks or credit unions. However, it can be hard to distinguish between a real cashier’s check and a fake one. So, to ensure a safe transaction, take a cashier’s check only when you can meet the potential buyer at their bank because you can verify the funds on the spot.