Selling a car can be a complicated task to accomplish, especially when you need the cash from the sale quickly. Many people try posting ads on sites like craigslist and wait for a prospective buyer to contact them. This process can take a long time so if you need fast cash for your car, the above method might 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 you start any selling process for your car, you need to know what it is worth. Using 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 may be worth. Something to keep in mind when looking at your car’s value is that when trying to sell it quickly, you will likely not get maximum return for the value of your car.
Options for Selling Your Car
Not every option available for selling your car will work for your situation. Determining factors in how you sell your vehicle is going to depend on the condition of your vehicle, the year, make, and model. Just 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 the amount your car will get you. Going into negotiations with these options, you will need to know their limitations and the limitations your car places on the amount of cash you can get. You don’t want to walk away from the best deal you can get thinking you might get more from another source.
As with any car sale, you can choose to sell it to another person. Depending on how quickly you need the money, this will probably provide you with the most amount of money for your vehicle. After you clean up your car, you can take pictures and post the car for sale online. If there isn’t much interest, you may need to consider another option.
Some dealerships are willing to purchase cars without the obligation of it being considered a trade-in toward another vehicle. The only problem with this option is that you are not going to get anywhere near what you think your car is worth. For a dealership, they need to be able to make a profit reselling your car, so expecting a high cash amount for it is not happening.
Private Used Car Buyers
The quickest way to sell your car for cash is to sell it to a private car buyer, junkyard, or a scrap metal facility. You aren’t going to get top dollar here, but you may get more for your vehicle, especially if it has 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 method of sale you choose, you have to make sure you have all your documentation in order. Selling your car without the proper paperwork can cause more problems than just your cash shortage. If you sell to a private owner or dealership, you want to make sure you have the title, service records, owner’s manual, and warranty documents. If you are selling to a scrap yard, you only need to prove there is no lien on the car (which is required in all selling options) and proof that the vehicle is yours to sell. This proof can be the title or registration.
When you need cash for unexpected circumstances, you may not have time to prepare or think of all the items you need in a pinch. The three methods of selling your car fast for cash are laid out, but it will be up to you to make one of them work in your favor depending on your circumstances.