The economy's rebound suggests that now is the time to upgrade to a shiny new vehicle, or, at least something a little fancier than your current ride. If you choose to do so, you'll be in good company; CNN Money reports that car sales exceeded $15 million in 2013, a number that hadn't been reached since 2007.
Of course, finances still remain a chief concern, which is why you may be considering a sales approach that takes your local dealer out of the equation. This could be an economically viable option, but only if you're prepared to spend time on research—and potentially even more during the negotiation process.
Research Your Car's Value
If you're planning on getting the most money possible for your car, you need to determine exactly what your car is worth. Two cars of the same make and model and with the same mileage can vary greatly in term of value, depending on the driver's habits over the course of the vehicle's life. You'll need to carefully assess any damage and weigh that alongside the car value information provided by a reputable source. Owners often plug in specifics regarding their used cars on Kelley Blue Book, thereby eliciting an estimated value based on overall wear and tear.
Consider the Cost of Negotiation
Although understanding your car's actual value remains of utmost importance, you also need to account for a potential buyer's negotiation tactics. Keep this in mind as you determine your listing price. Your best bet: List the car price as slightly above what you actually think it's worth; according to ABC News, the typical buyer will find little difficulty in shaving anywhere from $500 to $1,000 off that cost.
Post Detailed Photos of Your Car
Nothing screams scam like a car advertisement that lacks a single photo. Whether you choose to list your vehicle on CraigsList, CarSoup or even the bulletin board at your local coffee shop, you'll find few takers if you fail to provide at least one decent picture. You don't want prospective buyers to think you have anything to hide. At any rate, if there is something wrong with the car, they'll quickly discover it when they come to check out the vehicle for themselves. MSN Auto experts suggest taking pictures from all angles with a high-quality camera and, if possible, posting a thorough photo gallery online.
Keep Track of Paperwork
When buyers arrive in hopes of examining your car, they may be even more interested in the documentation related to the vehicle's history. If you come into the negotiation process with a copy of your car's vehicle history report in hand, you're likely to gain more trust from prospective buyers. You'll also want to provide thorough evidence of your car's maintenance records. This should include everything from the contract for your vehicle maintenance plan to receipts from your latest oil changes. Finally, as DMV points out, you'll want to have the bill of sale ready to go—this will expedite the sales process with prospective buyer.