Selling a secondhand vehicle may seem easy, but there are some considerations you need to look at to prevent yourself from being scammed. Paramount to these factors is knowing your used car’s fair market value, how badly you need to sell your clunker, and which payment methods to accept.
But no matter which methods you choose in selling your vehicle, the best way to go about it is by accepting cash. Unless you know your buyer, it’s better to avoid checks, since these can be counterfeited. There are a few ways to sell your used car for cash if you know how. We’ll let you in on a few methods.
Selling Your Car For Cash To A Junkyard
If your car has been sitting on your lawn for as long as you can remember, don’t call professional garbage disposal services yet because you can earn from your junk. Remember the saying ‘One man’s trash is another man’s treasure’? This is true for car owners. Instead of paying someone to get rid of your secondhand vehicle, sell your junk car instead.
Old cars apparently have more metal in them, and you’ll probably earn a few hundred dollars from it. Make sure to monitor the buying price of scrap metal and sell your vehicle when it’s high. Some junk car buyers do everything themselves, but they’ll probably deduct fees for towing services.
Dismantling Your Junk Car And Selling Its Parts For Cash
Scrap your old car and take out the highly sought-after parts to sell online. Give special attention to headlights, tail lights, stereo and sound systems, windshields, and the engine.
Start with the parts that are easy to remove such as the car battery and wheels. Ask your trusted mechanic to take out the parts that require special skills and tools to dismantle. Who knows? Maybe your mechanic has been looking for replacement parts and will gladly pay you in cash for a few of your spares.
Selling Your Car To Online Buyers
If your secondhand car still has a lot of life to it, then you’ll probably ask yourself, ‘How else can I sell my car for cash?’ One of the easiest ways to do it is to offer your asset to online buyers. E-commerce sites no longer limit their product lines to small items or appliances. Apart from vehicle selling platforms, some popular sites offer car sales to interested buyers too.
Whip out your camera phone and snap high-resolution photos of your old car to attract more buyers. Make sure to write a vivid description of the car and mention the manufacturing year, make, and model. There’ll always be interested buyers for a car that’s complete and in good condition.
Turning To Traditional Advertising To Sell Your Car
Whoever said that print advertising’s dead is lying. If you’re selling an old vehicle for cash, your target will likely be seniors who aren’t internet savvy. That being said, running a newspaper ad may get you the right client who prefers to pay in cash. Just make sure to be transparent with your car’s condition or have a professional see your car for restoration done to ensure safety.
If you can afford it, pay for billboard space in a conspicuous area to attract more buyers. Make sure to have an eye-catching description and photo of the vehicle you’re selling.
Selling Your Car At An Auction
This probably isn’t part of the options that pop in your mind when asking yourself, ‘How do I sell my car for cash?’ But the reality is, both online and in-person auctions can be worthy avenues for getting cash from a car sale.
Online auction sites may be good if you’re not in a rush to sell your car, as only a few people actively search for vehicles on auction. You’ll most likely need to schedule a personal viewing to interested bidders before they could place their bid.
In-person auctions may be better if you’re hurrying to get rid of your vehicle. That’s because the bidding process goes fast under these circumstances. You can either set a reasonable price at which you’ll accept the lowest bid or wait for the highest bidder’s price. With the former, you’re not obliged to sell your vehicle if the bids don’t reach your preferred price.
Selling Your Car To Private Buyers
The answer is a resounding yes. Often, the mere act of placing a ‘For Sale’ sign on your car while it’s parked in your driveway can get you a buyer. If you’re selling privately, make it clear that you’re only accepting cash payments.
With today’s advanced technology, it’s easy to make cashier’s checks, while personal checks can be written without assurance of adequate bank funds.
Although not always the best option, the safest way to sell a car is to accept cash payments. It’s great if we’re talking about a few hundred dollars when you’re selling rundown junk cars. If you’re in a pinch and need to sell your car quickly but the buyer doesn’t have cash on hand, remember to avoid handing over the keys unless you’re paid in full.