Make More Than Selling It Back to Dealer
Follow these steps to a successful sale:
1. Set a price.
There are resources that can help you identify the market value of your car -- start with the National Automobile Dealers Association (NADA.com
), Kelley Blue Book (kbb.com
) and Edmunds.com
2. Detail your car to increase curb appeal.
Repair minor dents and dings and change the oil and ensure fluid levels are at the max. Clear out all personal belongings. Consider paying for minor fixes instead of selling the car ‘as-is.’
3. Advertise through word-of-mouth or in online classifieds.
4. Arrange to meet potential buyers for a test drive.
Prepare for the meeting by:
* Assembling maintenance records;
* Printing a Carfax
vehicle history report
(visit carfax.com or see your CPFCU loan officer);
* Identifying the lowest purchase price you’d accept in negotiations;
* Notifying the potential buyer of what kind of payment you’ll accept;
* Researching your state’s DMV laws for selling a car; and
* Printing a bill of sale.
Ride along with a potential buyer on a test drive. Once you find an interested buyer, negotiate the purchase price.
5. When the deal is set, fill out the bill of sale.
If you own the title outright, sign the title over to the buyer after you have payment, and follow any additional DMV procedures for your state. If you owe money on the vehicle loan and Coosa Pines FCU has your title, give us a call at your local branch
to learn what is needed to conduct the sale here.
6. After the deal is complete, make one final sweep through your car to retrieve personal belongings.
Don’t forget to give the buyer all copies of the keys and your folder of the car’s service records. Make copies of all paperwork and immediately cancel your insurance policy or transfer it if you have purchased a new vehicle.
If you are
purchasing a new vehicle to replace your old one, come to Coosa Pines FCU for your auto loan
Call us or stop in today to speak with a CPFCU loan specialist. Our auto loan rates
are low, and financing is easy! You can even apply by phone or online through Virtual Branch
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