Selling a car can be a difficult task to accomplish, 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 cash for your car, the above method may 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 starting any process of selling your car, you need to know how much it is worth. Using the 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 can 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 are likely not getting the most out of your car’s value.
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 your vehicle’s condition, year, make, and model. 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 provide you with. When entering into negotiations with these options, you will need to know your limitations and the limitations your car places on the amount of cash you can obtain. 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 likely get you the most money for your vehicle. After cleaning your car, you can take pictures and post the car for sale online. If there is not much interest, you may need to consider another option.
Concession
Some dealerships are willing to purchase cars without the obligation to consider a trade-in for another vehicle. The only problem with this option is that it won’t come close to what you think your car is worth. For a dealership, they must be able to make a profit by reselling their car, so no high cash amount is expected for it.
Private used car buyers
The fastest way to sell your car for cash is to sell it to a private car buyer, junkyard, or junkyard facility. You won’t get the best price here, but you can get more for your vehicle, especially if you have mechanical issues. Many of these facilities or private companies will even come to pick up the car for free, leaving you with cash in hand.
Crucial items you can’t forget
No matter the sales method you choose, you must make sure you have all your documentation in order. Selling your car without proper documentation can cause more problems than your cash shortage. If you are selling to a private owner or dealer, you should make sure you have the title, service records, owner’s manual, and warranty documents. If you are selling to a junkyard, you only need to show that there is no bond on the car (which is required in all put options) and proof that the vehicle is yours to sell. This proof can be the title or the record.
When you need cash for unexpected circumstances, you may not have time to prepare or think about all the items you need in a pinch. The three methods of selling your car quickly for cash are outlined, but it will be up to you to make one of them work for you based on your circumstances.
