How to Get the Most Money for Your Car

The pandemic has prompted a great deal of self-examination in recent months, and this is certainly true of owners’ relationships with their automobiles.

Vehicles that were used frequently throughout the day prior to COVID are now parked in garages for days, if not weeks at a time. This, combined with a stifled economy as a result of business closures and restrictions, has prompted many people to sell their current vehicles and/or reduce the size of their family vehicle fleet. Additionally, some consumers are trading in a larger or luxury vehicle for a smaller, less expensive non-luxury vehicle.

On the other hand, many former buses, train, and subway riders have purchased a car in order to avoid using public transportation. The prospect of sharing a ride with dozens of other passengers does not seem appealing at the moment.

What Is the Value of My Car?

The first step towards maximising the value of your car when you sell it is to determine its approximate value. The model year, brand, model, mileage, and overall condition of the vehicle all play a role in determining its value.

Fortunately, there is a free resource that considers all relevant factors. By visiting NADAGuides and inputting a few pertinent details about your current vehicle, you can access a wealth of useful price/value information. They include rough, average, and clean trade-in values (based on vehicle condition), as well as a “clean retail” value and a certified pre-owned value.

If you intend to trade in your vehicle in conjunction with the purchase of a new vehicle, you can anticipate receiving the appropriate trade-in value. Likewise, if you sell your car to a dealer, you can anticipate receiving close to the trade-in value. These are essentially wholesale prices that allow the dealer to profit from the sale of the used car.

If you intend to sell your car to a private party, you can anticipate receiving a price similar to the “clean retail” value, as you will be dealing with the end-user. If you want cash for selling your car, Cash for Old Cars is the best place to visit.

What is the Most Effective Method of Selling a Car?

With a firm grasp on your car’s fundamental value (or, should we say, “values” depending on the method of sale), you should decide how to sell it. A portion of your decision is based on the amount of time you wish to devote to selling your car. Do you want to make this your full-time job, or do you simply want to sell your car quickly and painlessly?

While selling to a private party may result in the highest price for your car, you must consider the value of the time you will spend preparing the car for sale, creating ads for the car, and, most importantly, showing the car to strangers. Additionally, you must consider the awkwardness and difficulty associated with collecting payment from a private party in order to ensure that you receive the money you deserve and not a worthless check.

The obvious alternative is to trade in your car for another vehicle, but this is not an option if you are selling your car without replacing it. However, you can sell your car to a dealer simply by visiting dealers in your area and inquiring about the price they will pay for your vehicle.