Sell Trading-in Yourself- Get Smarter Deal

When trading in your car at any smart dealership, you should really be aware of the fair market value for your trade-in! Dealerships usually only give you a percentage of its true market value. If the dealership does not offer you your (close) trade-in's true market value, you may want to give this a shot. Sell it yourself. Its not that hard. If you sell your old car yourself instead of trading it in at the dealership, you can usually get a lot closer to its market value.

Depending on its model and condition, your car's TMV can be in some cases $2,000 to $6,000 more than its trade-in value. Instead of throwing away thousands of dollars by trading your car in at the dealership, it's a much better idea to sell it privately if you can.

True Market Value

Your car's TMV, or true market value, represents the average amount you could get for it if you sold it in your area. The fair market value of a car is an approximation of the amount a savvy seller can expect to receive when selling it. But before doing anything you need to know the fair market value for your trade-in!

Sell it Fast

Sometimes the fastest and easiest way to get your old car sold is simply to place a for-sale sign in the window and leave it parked in front of your house. If the car is in good condition, you can try contacting your relatives, friends, and co-workers. Even if none of them are interested, they may know someone who is.

Local Free Classified Ads - Cheap Marketing

Make a list of your local free classified ad services, both on and offline, and list your vehicle on as many of these as possible. Make sure to include your contact information, details about your car, and a photograph.

Try printing out flyers with your phone number, the price, and a clear photograph of the vehicle. It could be worth it to invest a few hours of your time into placing these in your local convenience stores, beauty salons, gas stations, car washes, restaurants, and even schools.

One of my personal favorite options is Craigslist. Craigslist is both local and free.

AutoTrader.com is another great online location for selling used vehicles. They claim to attract over 14 million buyers per month. You can place an ad on AutoTrader.com for as little as $25 a month. Of course, there's also eBay, just make sure you post your ad in the local section.

Other Opitions

If you have plenty of time and forethought you could also try placing your car in a consignment lot.

If you know anyone who has a dealer or wholesaler license, you can ask them to run it through an auction for you with a reserve price to see what kind of traffic it attracts. This may cost you a few bucks but, depending on the car as well as the auction, you may still come out ahead. Cars with less than 100,000 miles on them can run under the green light and usually bring in more money.

The only time I'd ever recommend you to trade your car in is if it is an outright clunker on its last legs. Even then, however, you may be better off selling it for scrap metal.

Before considering any of the above options, make sure you have your car's title, service records, and spare keys. You may also want to spend a few extra bucks to get a CarFax report. Then cross your fingers, sit back, and simply wait for the right buyer to come along.

If the dealership doesn't play ball and offer you your (close) trade-in's true market value, you may want to give this a shot.