Would you rather do the work of selling to a private party for an additional $1,134 or sell to a dealership as quickly as possible? Ask yourself if that sounds like a reasonable amount to pay to a dealership for the convenience of completing all the DMV paperwork, paying off any existing auto loans, the security of a safe transaction and, ultimately, offloading the continued cost to own your vehicle.įor example, Kelley Blue Book estimates a 2016 Toyota Prius C to have a $13,732 trade-in value and a $14,866 private party value. Take the difference between the listed private party value and trade-in value. There’s an easy way to find out if that’s worth it to you. Essentially, you’re tipping the scales to save the most time and get cash quickly. It’ll be less than a private party value since the dealership must pay overhead costs and still turn a profit on the deal. If you want to find out how much a dealership will likely pay for your car, take a look at the trade-in Kelley Blue Book Value. That means you can sell your old car and drive off in a new car the same day - without visiting the DMV. When you sell to a dealer, you have the opportunity to use the sale as a down payment on a trade-in vehicle. Private party values are always the highest because you’re skipping a third-party transaction. When you look up how much your car is worth using an online tool like Kelley Blue Book, you’ll see several value options. While the majority of private sales are legitimate, there are professional scam artists to stay away from. There’s always a risk accepting a large sum of money in exchange for the keys to your car. There is quite a bit of paperwork needed to sell your car privately, including your title, a bill of sale and an odometer disclosure to release your liability with your local motor vehicle authorities. Depending on the quality of local listings, you may get interest far and wide. Be prepared for your schedule to fill up with coordinating test drives with potential car buyers. Potential buyers want to see clear, high-quality images of a vehicle online, along with service records, a vehicle history report and any service warranties included in the cost of the vehicle. You should check for errors on the report before prospective buyers disqualify your car. There are plenty of sites that will sell you your vehicle history report for a fee with just your vehicle identification number (VIN). This can get especially tricky with private sales. If you’re trying to sell a car with a lien, you’ll need to talk to your lender, since you technically don’t own the car on the title. There are a few time-consuming steps you need to take to sell your car without professional help. That said, if you’ve got plenty of time and are short on cash, selling privately will garner you the most cash. The question here is: How soon do you need that cash? Going this route is the most time-consuming option available to you. There’s no doubt that selling your vehicle to a private party will generate the most cash for your car.
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