by Jane Coryell

Created on: November 05, 2008   Last Updated: November 16, 2008

Ok Ladies, you've made the decision to buy a new car, which means selling yours. Many thoughts are running through your mind. Should you sell it privately or through the dealer? What is a good selling price? Will you get the same price from a private buyer and a dealership? Before you reach for a life raft, there are certain things you should know and consider which should bring you top dollar for your vehicle.

The first step is to research the market. Whether you decide to sell privately or to a dealership, the starting point for either is to know what your car is worth. There are many on-line sites to assist you in finding the value of your car. Kelly's Blue Book is a well-known and trusted resource. Another good site is Edmunds.com. Either site will allow you to search for the name, make and model of your car and using certain critieria, will allow you to determine the value. Criteria will include the condition of your car, the mileage and the demographic area in which you live. This will allow you to estimate a good selling price. You should also scan the classified ads in the local newspaper to see similar cars and their asking prices.

Your next decision will be whether to sell it on your own or to the dealer. Much is to be considered in this decision alone. You will almost always get a better price when you sell on your own. A dealer will offer you less so that he can make a profit when he turns around and sells the car. However, if you want to unload it easily and quickly, selling to the dealer would be your best option. No fuss and much less time involved. Having done your research, you will have established a good selling price from which you can negotiate with either a private buyer or a dealer.

More research should be done if you decide to sell on your own. Consider if your car is a popular model. SUV's seem to be selling very quickly. Sedans have become more popular with the price of gasoline escalating. Do you need to sell quickly or can you take a little extra time? Do you still owe on the car? Does it have any mechanical problems? Is the body in good shape? Are the tires new or need replaced?

Considering the factors above, set your price. It is best if you can leave a bit of padding in your price. For instance, set the price a tad higher than what you actually want, approximately $500 more. Buyers usually negotiate down and this will allow you some room to get close to the price you really want.

Once you have made a decision on the price, it is time

• 1
• 2
• Next Page >>