Do I Keep My Car or Trade It In? Kelley Blue Book

In other words, if you get less when trading it in than the loan payoff, don’t do it. That’s because the difference between what you owe and your car’s value is rolled into the amount financed on your next car.

Over-maintenance and unneeded repairs

From there, you can take your offer to a Certified Dealer to cash out. Entering your car’s make and model will generate a price range, so you know what to expect when you decide to sell. Use a social media online marketplace to help sell your car! Consider posting a photo of the car and mentioning that you’re selling it. You can also post links to websites where people buy cars online. You’ll need the vehicle title to complete the sale when selling the car yourself. Check with your state’s rules regarding title transfer at a local motor vehicle division office location.

As mentioned, check your state’s rules on the title transfer. When a potential buyer wants to take a test drive, always accompany the person, regardless of what kind of collateral they offer. The potential buyer may also want to bring someone else along. Plan a test drive that’s short and sticks to populated areas. If your buyer wants more time, let the person ask you for it.

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To your personal information, so be prudent throughout the vehicle sale process and on the lookout for scams. Finally, if all the titleholders can’t be present, you might be able to bring specific paperwork depending on your state that will allow CarMax to buy the car. We recommend calling CarMax ahead of time if this situation applies to you. As we mentioned above, CarMax differs from other car-selling sites because it requires you to visit a physical location to finish the deal. CarMax has 244 locations nationwide, but there are no locations in Montana, North Dakota, South Dakota or Wyoming. If you don’t like the vehicle, you can return it within 30 days with their money back guarantee and either choose a new one or search elsewhere.

How To Prepare Your Car To Sell

What makes CarMax a bit different is you need to visit a physical location to finalize the deal. CarMax does offer pickup service in select markets, but you’ll need to call your closest CarMax to find out. Customers agree with the value CarMax offers, according to many who praise the company’s overall value when buying and selling vehicles.

First, when you list the car for sale, make sure you’re clear and up front about the fact that it does not have a V5C. Not having a V5C is likely to deter potential buyers, as it can be a sign of a stolen vehicle. Not to say that’s the case, but you do have to put yourself in the shoes of the person parting cash for your car who has never met you before. New car priceshave been falling for most of 2023, with the average new car selling for $47,936 in October,Kelley Blue Book reported. Overall, new car prices are down 1.4% since October 2022 and 3.5% since their peak in December 2022. It’s paid off – If you’ve managed to pay off your current car and you don’t hate it, consider hanging on to it until the market settles and interest rates go down.

Now is the time to find the best ways to sell a car! The pandemic has created a shortage of cars in the United States, and used cars are in high demand. Discuss with the potential buyer their plans and yours, and be honest about your limitations. When both parties are comfortable, it paves the way for a successful sale. If you originally bought the car from a dealer, remove any contract or completed credit application from your glove compartment or owner’s manual. You wouldn’t want this information to fall into the wrong hands as it may contain your social security number and any previous addresses. Before handing over any service records to a potential buyer, block out any sensitive and personal information.

Our team has experience selling a car to CarMax in person and we found the process was quick and easy after a short wait in the waiting area. Instead of getting an online offer, you can also just stop by your local CarMax to get one on the spot. You don’t need to bring anything besides your vehicle for an offer. But if you want to sell it that day, you’ll need some more information, which we cover below.

Our team received CarMax offers of $12,000 for a 2016 Chevy Equinox and $11,400 for a 2017 Kia Sportage. Below, you can see how these offers compare to each vehicle’s KBB trade value. You can make an appointment by calling the location nearest to you, but an appointment isn’t necessary.

A network of trusted dealers will bid on your car and you can choose the best price. If you want to sell your car through carwow, you will need your V5C document. An SUV owner in Florida says he took his sport-utility vehicle to a repair shop a few years ago and paid $1,150 to have two new catalytic converters installed. When the engine light stayed on after the car was serviced, he took it to a local car dealership’s service department and learned that the new parts had never been installed. He says it appeared that the repair shop had simply spray-painted the old parts to look new. If you really want to be thorough and plan on selling the car to a private party, your first step should be to take your car to a mechanic for a full inspection. This will usually cost between $150 and $250 – but make sure they spend at least an hour on the vehicle.