6 Steps to Successfully Sell Your Car
Selling your car and don’t know where to start? Autobids got you covered! These seven steps will help you successfully understand how to sell a car and turn your car into cash.
Don’t want to deal with showcasing your car in person? Autobid’s online auction platform lets buyers bid on your car online. No negotiations, no hassle, and a smooth sale. Just download the app!
Gather all the paperwork
Before selling a car, you need to make sure you have all the relevant paperwork:
● This is the document that indicates you are the vehicle owner and can legally sell it. You will need to sign this once the sale is complete.
Vehicle History Report:
● A Vehicle History Report documents all previous owner registrations, accident histories and modifications to the vehicle. Order this online to show to potential buyers. All you need is the Vehicle Identification Number (also known as VIN).
Existing financing due.
● Talk to your Lender if you still have an outstanding debt on the car. If you do, you may have to complete the sale at the Lender’s office.
Newest way to sell your car: Autobids online car auctions
There are definitely a lot of ways to sell your car. The newest and most enjoyable way is through AutoBids. Simply upload your car and have it seen online by thousands of people. The higher they bid the higher you can sell your car for! Before car auctions were only available to dealerships. However, AutoBids has brought the joy of bidding on public auctions online! Furthermore, if your car is highly viewed, it can end up on the popular listings panel where it can gain more visibility. You can also pay to have your car listing on the featured listings panel. These are all the options you have to easily sell your car on AutoBids while having fun doing it. Say goodbye to boring old car sales!
Determine a competitive price
Understand the value of your car
Don’t assume that you can sell your car for the same or similar price to the original sticker price. The value of a car depreciates quickly over the years. A car you bought for $40,000 four years ago may only be worth $18,000 today. To give you a more accurate estimate, check out online car valuation tools to provide you with a range of values. A car value range will help you determine a fair price for your car. Keep in mind any dents, scratches, or accidents may mean you have to consider pricing your car on the lower end of the value range. If you have put in extra work into your car, like special features, modifications, or kept it in mint condition, then consider pricing it near the higher end of the value range.
Things that can lower the value of a car:
● Age of car
● Number of owners
● Smoking in the car
● Pet damage
● Number of accidents, dents or scratches
● Lack of popular features (for example, the vehicle doesn’t have Bluetooth or a USB port)
Things that can increase the value of a car:
● Up-to-date servicing
● Recent maintenance, e.g., updated brakes, replaced the battery, etc.
● Winter tires included
● Extended warranty
● Popular special features
Find that sweet spot price
You need to find the sweet spot price that will attract buyers to your car. Be careful not to price too high, or you may steer buyers away. However, a low-balled price may attract many buyers, but it may not reach your target price.
The beauty of bidding is that a lot of people will be competing for the car. This puts the seller at an advantage to possibly receive the best price possible.
Create a listing that sells
Now that you have decided on a starting price for your auction, it is time to create a listing that attracts buyers. No one wants to look at a beat-down car with shoddy photography or a vague description. Avoid disappointment by ensuring your vehicle is in tip-top condition. That means detailing your car, fixing any major aesthetic or mechanical issues, and getting a car wash.
First impressions can make or break a buyer looking at your advertisement. Make your car marketable by making sure the pictures in your listing are eye-appealing and make the buyers want to hop on the car right away. Take a photo when your car is clean on a nice, sunny day and provide multiple angles of the interior and exterior of the vehicle. Avoid putting any personal information in the background, such as a house number or specific landmarks, to protect your privacy.
Keep the description of your car clear, specific and free of any grammar or spelling mistakes. Be honest if there are any flaws or accident history. Oftentimes, buyers will still buy a car that was in a previous accident if it has been maintained.
Take Advantage of Autobids Car Auctions
Autobids has a convenient app to help you sell your car and buyers can bid on your vehicle.
Put all of the essential information on your advertisements, such as the odometer reading, color, condition of the car, age, popular features, and any other pertinent information. Don’t forget to attach a Vehicle History Report as well. Many buyers will not look at a used car if there is no VHR, as it may indicate there is something to hide.
Use purposeful phrases in your advertisement to indicate your intentions:
● Used car that is sold as-is. The current condition of the vehicle is whatever can be seen and the buyer should be aware that as-is condition means the buyer is accepting all the “flaws”
● Greenlight means that the car has been inspected by a car care professional. The car is expected to be up and running.
● This phrase indicates urgency and that you need to sell the car fast. It attracts buyers because they can feel that they are getting a deal out of the car since it must sell right away!
Let the bidding wars begin
If you don’t want to deal with negotiations, Autobid’s platform lets you sell your car auction-style. The highest bidder wins, it’s that simple! No need to haggle with buyers. You set up a target price and you have the choice to sell for whatever price you want! Take advantage of thousands of online car shoppers who are keen on buying a new car. Remember, your listing is important in the eyes of the buyers. If you want the best price you have to have the maximum amount of bids you can get on your listing. A good picture will come a long way in online car auctions.
If you want even more exposure, you can take advantage of paid ads on the Autobids platform. For a small fee your listing will be seen by everyone on the front page. After listing your car, you can just kick back and enjoy while thousands of online users fight to win the auction for your car!
Congrats on selling your car!
Now that you have a buyer who reached your target price, it is finally time to close the sale.
When it comes to payment, be clear to buyers that you will only accept cash or a bank draft as payment. We do not advise accepting a wire transfer or personal check as these are more susceptible to fraud. If you still owe money on the car, you will need to close the deal at the bank or Lender.
As a seller, you will also have to create a “Bill of Sale” receipt to prove a car’s purchase, depending on which state you sell the vehicle. Every state is different, and not all states require one. Go to your state’s department of motor vehicles (DMV) website and download the Bill of Sale document. Sign the Car Title to indicate the new owner of the vehicle as well. The buyer will now take the signed Car Title and get a new one processed by the DMV.
Lastly, don’t forget to cancel your auto insurance policy - and possibly go shopping for a new car on the Autobids!