Should You Sell Your Car Or Trade It In?
By Gregg Hall
Many people rush into selling their car or trading their car before taking the time to really make sure that they do it right and get the most money out of the transaction. Here are a few pointers to keep in mind when selling or trading your car.
Before you put your car up for sale:
* Be sure to do some research first. Prospective buyers may try to give you less money for your car than it is actually worth. This happens all the time, I know I used to drive around looking for bargains!
* Know your car's value, which is the standard market price you can expect it to be worth if you sold it privately. This is commonly called the blue book value. To find your car's blue book value, you can buy a blue book for used vehicles at most bookstores or visit http://www.kbb.com.
* Have your car detailed and make sure any major mechanical problems have been repaired. Prospective buyers will be willing to pay more for cars that are in better condition.
* Have your records in order. This shows prospective buyers that you have taken care of your car and are prepared.
* Be ready to negotiate. Most buyers will start out with a low offer on principle. If they see that you have done your homework and are knowledgeable about your car, however, they may be willing to raise their offer.
Before you trade your car in for a newer vehicle:
* Be sure to do some research first. The dealership may try to give you less money for your car than it is actually worth.
* Know your car's value, which is the standard market price you can expect it to be worth. This is commonly called the blue book value. To find your car's blue book value, you can buy a blue book for used vehicles at most bookstores or visit http://www.kbb.com.
* Have your car detailed and make sure any major mechanical problems have been repaired. Dealers will be willing to offer more for cars that are in better condition.
* Have your records in order. This shows the dealer that you have taken care of your car and are prepared.
* Be ready to negotiate. Most dealers will start out with a low offer on principle. If they see that you have done your homework and are knowledgeable about your car, however, they may be willing to raise their offer.
Second Hand Car Prices
By Dominic Ferrara
If you’re interested in second hand car prices, we have a few things to tell you.
First, using the Kelly Blue Book, which is available on the Web at www.kbb.com and in book form from your local library (both for free), is an easy way to determine how much you should pay for the second hand car you’d like to buy. Edmunds.com is another free, online source that’s trustworthy and easy to use. It’s available in book form at the library.
The Kelly Blue Book and Edmunds tell how much every car on the road is selling for today. The books and Web sites are well organized and easy to use. You start with the make of car you’re interested in (for example, GMC, Toyota, Jaguar or whatever). You choose the kind of Ford or Honda next (Honda Accord, Ford Focus, etc.). Then you select whether it’s an XL, L, S or whatever, the condition, year and several other details like that.
It’s a good idea to take the extra five minutes to see what Edmunds and Kelly say. They rarely say the same thing. You can also look in your local classifieds to see what similar second hand cars to the one you’re interested in are selling for, or call several local car dealers.
The blue book and Edmunds don’t do everything, of course. They won’t tell you how dependable the car you’re interested in is, or if the specific car you’re going to buy is a lemon (or what to do if it is). They don’t tell you how to negotiate to get the lowest possible price for your next car, or how to negotiate with your insurance agent and the bank who finances your loan. They don’t tell you where to go to get the most reliable information on the cars you’re interested in, or how to turn a salesman’s scams to your advantage. But if you’re interested in car prices for second hand cars, Kelly’s and Edmunds are good places to start. But there’s so much more to getting a great deal on your next car. Good luck!
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