February 22, 2024

Do I Keep My Car or Trade It In? Kelley Blue Book

Private party sales, on the other hand, could cost you additional time and money. Sellers can list their vehicle for $4.95 for a 30 day listing on Cargurus to reach a large audience of potential car buyers. Buyers can search for nearby listings by inputting criteria including make, model, year, and location. Simply provide your car details on their site for an instant quote, which is good for 7 days if you want to check out dealerships or other options. Selling to a private party might be a good option if you want to get more money for your car. Another place to find your car’s value is to check out local dealerships for similar cars to yours. Sellers in some states must notify the county tax assessor’s office of the sale, which provides another layer of protection if the future owner fails to properly title the vehicle.

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Your vehicle had to be repaired due to a major accident. Rashawn Mitchner is a MarketWatch Guides team editor with over 10 years of experience covering personal finance and insurance topics. Certified Dealers are contractually obligated by TrueCar to meet certain customer service requirements and complete the TrueCar Dealer Certification Program. See immediately how features like color and mileage affect your car’s value. Enter your car’s information and instantly get a value estimate. It’s also important to consider how much time you spend on the process because some websites require more effort than others.

These websites are a great way to reach a large audience of buyers. Sell it to a local dealer.Dealers are the most common way to sell vehicles, and it’s usually the most hassle-free way to go. Use an online service like Carvana or Kelley Blue Book to find out how much your car is worth, and then you can set your asking price.

You can trade in for a new car or get cash for your sale. You can sell a used car right here on Kelley Blue Book. If you choose not to sell it online, you can either sell it to a dealership or privately. Remember to shop around for the best offer if you sell to a dealership.

Step 1 – Find Out How Much Your Car is Worth

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The car ads also run nationally for those hard-to-find vehicles. You can stand out to buyers interested in your car with a detailed description and several good photos. Once you’ve decided to sell your car privately, it’s time to get the word out to the largest audience possible and sell a car online. Options can bump up your car’s resale value, so be sure you have a complete list. If you want to see if you missed anything, check your original sales documents or the window sticker.

Why Used Car Price Guides are Usually Wrong

Although the average price of used cars seems to be dropping in 2023, at this writing, they remain stubbornly high. If you’ve got an older car with lots of miles, it’s best to try to sell it yourself, or you may want to get bids from local independent used car lots. They’re more likely to want to buy your car since they typically sell older vehicles. It seems like it’s a no-brainer to sell your car privately, but there’s a long list of disadvantages you need to consider. Most dealers will automatically deduct half the cost of repairs from the value of your vehicle.

Customers specifically noted the great customer service from CarMax representatives. However, our team also found reviews complaining about the selling and buying process taking too long and issues with meeting in person for transactions. Be prepared to sell your car on the spot if the buyer wants to complete the sale. Remember to bring your car title and all the collected paperwork to the meeting, but keep it in a safe place until decision time. If using the Private Seller Exchange, the site collects the title and payment. Just make sure not to release the vehicle until the payment clears and you get the all clear.

If you have waited longer than this, contact their customer service department. While there is no specific date for how long a CarMax location can hold your car, you can generally expect it to be held for at least a week. However, this depends on the location and if there are already additional buyers who are willing to purchase. Be aware that CarMax’s offers are contingent upon the inspection. So, make sure you disclose the true condition of your vehicle when you get the offer online. That gives you time to compare offers from other companies and see which one is best.