Things are very uncertain in today’s world. COVID-19 has impacted people from all walks of life, and now many are finding themselves having to make difficult decisions about their future.
The economic effects of the pandemic are still being studied, but so far things aren’t looking good for many businesses and individuals. A lot of Americans are wondering how they’re going to make ends meet for the time being.
People with assets to sell may be thinking about parting with some of their possessions for money. Selling a vehicle is a big decision, but it may be what you need to do to bring in extra cash until things stabilize.
Have you been debating if whether or not selling your car is a good idea right now? If so, we’re here to help. Keep reading this post if you need a little guidance in deciding if selling your car is the right choice to make.
Questions to Ask Before Selling a Vehicle
When you’re looking for money fast it can be easy to make a rash decision. Things may be a little uncertain now, but selling a car is a big financial decision that can have far-reaching effects in your life.
You may not be traveling much now, but you may miss the car you have once things settle down. It’s also important to consider things like car value, ease of selling, and other factors you may have little control over.
Before you make any big decisions, make sure you take the time to answer these important questions.
Have I Thought About the Timing?
Some people may think that selling anything during such uncertain times is a bad idea, but the opposite may be true for car sellers.
The time between March and August may be the best time to purchase a car. Since the weather is getting warming, people are thinking more about being outside and traveling.
It’s also important to note that some buyers may be looking for deals right now. People are at home and looking online for anything they can get for a good price. You may get lucky and find someone that’s willing to buy your vehicle simply because of timing.
How Well Do I Know the Market?
Before you make a decision to sell any car, you need to take some time to study the current market. You have plenty of free time on your hands, so you may as well get acquainted with Kelley Blue Book.
Taking the time to understand the going value for cars that are similar to yours can give you some insight into how you should price it. You should also take time to look at prices from local dealerships and other local private sellers.
When you’re doing your research, be sure to keep in mind that dealers will have different prices than private listings. It’s still a good idea to research prices from dealerships in the area, but know that their prices are going to be a little higher.
Don’t make the mistake of just looking at the prices of the vehicles that are being sold. Pay close attention to certain features of the car like mileage and any extras like a built-in navigation system or back up camera.
Will My Kind of Car Sell?
There are a lot of factors that will affect the sale of your car, anything from the make, model, and even the color can affect how quickly it moves. Certain small factors will make a difference, but the kind of car you have will matter even more.
The average family-friendly four-door sedan may seem a bit boring to you, but those kinds of cars are almost always in demand for buyers. They offer stability and inexpensive transportation to individuals and families.
If you have a hot convertible or sports car, now is the time to sell. People are much more likely to purchase these fast and flashy cars during the spring and summer when the weather is nice. It’ll be trickier to sell them when it’s colder outside.
People with trucks or vans may be able to have the best luck if they’re trying to sell their vehicles fast.
These vehicles are commonly used for work. Even an older model truck or van can fetch a pretty high price from the right buyer. Don’t undervalue any work vehicle you have, and consider reaching out to small businesses instead of individuals over it.
You may be one of the few people that isn’t focusing on selling an everyday car, you may have a collector car you’re trying to sell. These cars may typically fetch a high price, but since there aren’t too many interested buyers it may take longer to sell.
If you do have a collector’s vehicle, try posting about it in classic car and car hobby forums. You may be able to have better luck finding interested buyers there instead of on typical selling sites like Craigslist.
Do I Have Time to Add “Curb Appeal” to My Car?
You want to sell your car as quickly as possible, but you may need to slow down your sale time to make your car more attractive to buyers.
Even beginner car sellers know that it’s important to make sure that cars are running well and have little to no mechanical issues before you try to sell it. However, some may not be aware of how much superficial appearance matters to buyers.
You may have heard of the term “curb appeal” from people in the real estate business. Realtors want to make sure that the homes they sell look great before they put them on the market. You should apply that same principle to selling your car.
Cars that look neat and clean will automatically look better to interested buyers. If you can, take some time to clean up your car so it can look its best before you start showing it.
Give your car a thorough washing and vacuuming. Remove all of your personal belongings from the glove compartment and trunk, and be sure to wipe down your dashboard.
Pay attention to how the outside of your car looks as well. Clean your windows and all mirrored surfaces, go all out and consider adding some tire gloss to your tires.
Have I Considered Salvaging?
Maybe you have a car you’d like to sell, but you know it would take too much time and money to get it into working order any time soon. This may sound surprising, but you actually can make money off of your vehicle.
The advice we’ve talked about so far has been focused on selling your car to an individual. If you’re running out of options and don’t have time to make expensive and needed repairs, you should consider selling your car to a salvage yard.
Going down the salvage route may be the best solution for people that don’t think they could make a lot of money selling their vehicle as-is. You don’t have to worry about investing money in repairs, and the process can move a lot quicker than a private sale.
Remember, it’s very rare for a vehicle to have absolutely no value to someone. Even if you don’t think there’s much value in the vehicle itself, you could make money from selling off certain parts.
Do I Have the Right Paper Work?
Selling a car isn’t as simple as showing a potential buyer your vehicle then waiting to see if they’re interested. If you want to sell your car the right way, you’re going to need some paperwork to show people that what you’re selling is a good choice.
If your mechanic is still working, have them check out the car and give you a report about the vehicle’s condition. You should also order a vehicle history report so you can show buyers that the car’s title is legitimate and that the odometer reading is accurate.
Showing receipts for any major work you’ve had done to the car can serve as proof that repairs took place. If you have any paperwork around routine maintenance like oil changes, be sure to have that ready to go.
It may seem like a lot of paperwork for a private sale, but this is good to have for both you and the buyer.
Paperwork can give buyers legitimate proof of your claims. If anything happens to the vehicle or if the buyer tries to claim that you mislead them about any details, you’ll have paperwork to prove your case.
Sell Your Car Today
Selling a vehicle during this uncertain time may be the best way for you to get money fast, but you should know that you don’t have to do it alone.
We buy cars of all kinds from people around the country. Instead of going through the selling process on your own, make things easier on yourself and let us help you out.
Whether you want to sell your car today or have questions about the selling process, we’re here to help you. Reach out to us today so we can get the selling process started.