Boost Your Used Car's Trade-in Value

You're in the market for a new car but the thing is you need to get rid of your old one first. If you are not concern about keeping more money in your pocket, or if you're too busy to deal with the sell-it-yourself process, I suggest you go and have your old ones traded at the dealership. Trading your car at the dealership would mean you not having to pay a percentage of its sales tax which is tantanamous to the value of your existing car in the trade-in market, on the new one you're getting. For the purpose of comparison, a trade in of $2,000 for instance could be as close to $160 at a sales tax rate of 8%. On the other hand, the same car valued at $2,000 in the trade-in market can seal a deal for as much as $3,000 to an outside party if you exert a little more effort. That's a great deal of money in just a couple of hours work.

The extra $1,000 as you may have read above surely caught your interest. Go ahead and start doing your research on your car's market value. You can use online searching to do this. Type in all the available features and information as to mileage of your car to get an exact number and have it printed. There you have it! You have just successfully gathered all of your car's details together with its market value. You are now ready to strike a deal with a private party and earn the extra $1,000.

Next up, have your car advertised in your local newspaper and online. Provide details such as make, year, model, engine cylinder size, mileage, etc. Give your car a thorough cleaning, inside and out. A trip to the car wash should do the trick. Be honest and inform your buyer of any mechanical and/or electrical problems that your car may have. Don't forget to do an oil change as well as the topping of other fluids. When you get a call from prospective buyers, be honest in answering all their questions about the vehicle so you can make an appointment turn into a sale.

Now you were able to book an appointment with a potential buyer. Prior to the test drive, check your prospective buyer's license first and accompany him/her when doing the test drive. Don't be too rigid of the price during negotiations. With your car's resale value considered, you should be prepared to accept a few bucks less than the price you've advertised. It is always wiser to take only cash rather than checks.

Meanwhile, care and caution should be observed in dealing with prospective buyers online, from your online advertisement, that is. Scams are rampant online so beware. Say for instance an online buyer is offering to send you a check for more than what you were asking for and asks you to send the excess amount to a shipping firm, then you should know better. It's definitely a scam!