The Best Way to Sell Your Used Car

If you need to get rid of your old car but can’t bear the thought of spending hours on end posting fliers or waiting at auto auctions, there are other options for you. Whether you sell to a dealership or post your car online, many effective methods to close the deal. Keep reading for the best tips to sell your used car most quickly and efficiently possible:

Sell to a Dealership

If you want cash for your car and you want it fast, go straight to a dealership. Dealerships know how valuable their trade-in vehicles are and will be willing to pay more than someone who isn’t in such a hurry. Trade-ins are one of many ways to make some extra money off of your car and many dealerships will offer you cash for your trade-in or sell it outright.

Keep in mind that selling your trade-in can help pay down any remaining loan balance and may save you a few bucks at tax time if you’ve lost value in your vehicle since buying it new. Research how much your current car is worth, set a price, and start shopping around for dealerships that may give you more cash.

Post Your Car Online

Posting your car online is one of the easiest ways to sell it. Craigslist, eBay Motors, Autotrader, and Hemmings Auto have become much more user-friendly in recent years, with some even offering valuation services that can be helpful when trying to decide on a price. 

While you will likely get less money than if you sold your car privately or through a dealer, it is still a quick way to sell your vehicle for cash. If nothing else, you can use it as a lever with dealers who may offer you more once they realize how desperate you are for quick cash.

Encourage Potential Buyers to Refinance

If you’re trying to sell your car, it might be wise to encourage buyers who don’t have good credit or savings accounts to refinance an auto loan with Lantern. According to Lantern by SoFi, this can often make a difference in whether or not a buyer qualifies for financing—or what type of loan they qualify for. If the buyer gets a higher interest rate, you will get less money for your used car, but if it means getting rid of your vehicle quicker, it may be worth it.

Use Social Media

Get the word out that you’re selling your car by posting an ad on social media. Facebook and Twitter are especially effective at reaching a large audience. Include information like the make, model, year, and mileage in your post. This way, people will be able to find it through search engines and see it while browsing their newsfeeds.

If you’re looking to sell your used car, consider the type of car you own and how it’s currently performing in the market. Keep these tips in mind as you work to sell your used car to the highest bidder.