Selling a car can be a difficult task to pull off, especially when you need the cash from the sale quickly. Many people try to post ads on sites like craigslist and wait for a potential buyer to contact them. This process can be time consuming, so if you need quick money for your car, the above method might not be the best solution. So what can you do when you need to sell your car to make a quick buck?
Know the value of your car
Before you start any process of selling your car, you need to know how much it is worth. Using Kelly Blue Book or NADA Guides can help you with a starting point. Depending on the condition of your car, there will be a range of values that your car may be worth. One thing to keep in mind when looking at the value of your car is that by trying to sell it quickly, you likely won’t get the most bang for your car’s worth.
Options to sell your car
Not all of the options available to sell your car will work for your situation. The determining factors in how you sell your vehicle will depend on the condition of your vehicle, the year, make and model. Just like new cars, used cars have their own assigned values and some are worth more than others.
Each available option will also have its limits on how much your car will give you. When entering into negotiations with these options, you’ll need to be aware of your limitations and the limitations your car places on the amount of cash you can get. You don’t want to walk away from the best deal you can get thinking you could get more from another source.
Direct sale
As with any car sale, you can choose to sell it to someone else. Depending on how quickly you need the money, this will probably give you the most money for your vehicle. After cleaning your car, you can take photos and post the car for sale online. If there isn’t much interest, you may need to consider another option.
Concession
Some dealers are willing to buy cars with no obligation to consider a trade-in for another vehicle. The only problem with this option is that you won’t get anywhere near what you think your car is worth. For a dealer, they need to be able to make a profit from reselling your car, so waiting for a lot of cash isn’t happening.
Private Used Car Buyers
The fastest way to sell your car for cash is to sell it to a private car buyer, junkyard, or scrap facility. You won’t get the best price here, but you can get more for your vehicle, especially if you have mechanical problems. Many of these facilities or private companies will even come and collect the car for free, leaving you with cash in hand.
Crucial Items You Can’t Forget
No matter what method of sale you choose, you have to make sure you have all your documentation in order. Selling your car without the proper documentation can cause more problems than just cash shortages. If you’re selling to a private owner or dealer, you’ll want to make sure you have the title, service records, owner’s manual, and warranty papers. If you are selling to a junkyard, you just need to show that there is no link on the car (which is required on all sales options) and proof that the vehicle is yours to sell. This proof can be the title or registration.
When you need cash for unexpected circumstances, you may not have time to prepare or think of all the items you need in a rush. The three methods of selling your car fast for cash are set out, but it’s up to you to make one of them work for you based on your circumstances.