Selling a car? In this economy??
April 27, 2022 9:00 AM Subscribe
I have two cars that I need to turn into one larger car, I hate selling things, but I also would like to at least optimize how much we get for them.
We have two 2006 Priuses that are cosmetically a bit shabby but mechanically well-maintained (including battery arrays replaced in 2020 and brand new catalytic converters with welded guards installed late last year). Lifestyle changes mean we need a substantial-sized vehicle for a couple years, during which we would have nowhere to keep an extra car, so they both must go (even if it breaks my heart a little) so we are paying as much cash as possible for the replacement vehicle.
We hate selling things, we hate buying things that are sold, we do not have hagglers' souls, we hate the whole process so much that we're probably easy to scam. I know we'll get far less for trade-in than we would get - especially in the current market - through something like a private sale, but how do we go about that with the least amount of misery? Is there a service that makes it less terrible? Is there a guide to this that I should read? Are any of you really good at this and will tell me your secrets?
We have two 2006 Priuses that are cosmetically a bit shabby but mechanically well-maintained (including battery arrays replaced in 2020 and brand new catalytic converters with welded guards installed late last year). Lifestyle changes mean we need a substantial-sized vehicle for a couple years, during which we would have nowhere to keep an extra car, so they both must go (even if it breaks my heart a little) so we are paying as much cash as possible for the replacement vehicle.
We hate selling things, we hate buying things that are sold, we do not have hagglers' souls, we hate the whole process so much that we're probably easy to scam. I know we'll get far less for trade-in than we would get - especially in the current market - through something like a private sale, but how do we go about that with the least amount of misery? Is there a service that makes it less terrible? Is there a guide to this that I should read? Are any of you really good at this and will tell me your secrets?
What is the most important part of the situation? Maximizing value? Time? Minimizing angst?
Used car values are high. New battery array and new cat with protection are huge pluses for some people. Are you buying new from a dealer? You might be surprised how much they offer you for both. It may be less than you get in a private sale, but it will be much less hassle. I would also consider selling to a place like CarMax or Carvana or one of the new used car companies.
The small problem as I see it, is that the replacements and upgrades will not be properly reflected in the book value. You could advertise a private sale and in the listing put the new (costly) parts in the ad, but that will require dealing with people.
If I were in your shoes, and I sort of was about 2 years ago, I would pick a price for which you are willing to sell that is reasonable but a little below what you think the market will bear. It should lead to a quick sale to a dealer or a private party.
There are definitely people who will shop for a new vehicle for you and include getting rid of current steel. They will advise on what is the best new or replacement vehicle for you based on your needs (e.g. 3 kids and a camper to be pulled) and haggle the price with a dealer. That includes trade-in.
I would also conisider family and friends. I am the designated seller in my (ex) wife's family. I have negotiated 3 dcar purchases for them. I think it is easier for me than them because I ask them what their top price to buy is and their bottom price to sell and I just never violate those numbers. If I cannot get a deal done at those prices or better, I walk away to another dealer or transaction.
posted by JohnnyGunn at 9:19 AM on April 27, 2022 [2 favorites]
Used car values are high. New battery array and new cat with protection are huge pluses for some people. Are you buying new from a dealer? You might be surprised how much they offer you for both. It may be less than you get in a private sale, but it will be much less hassle. I would also consider selling to a place like CarMax or Carvana or one of the new used car companies.
The small problem as I see it, is that the replacements and upgrades will not be properly reflected in the book value. You could advertise a private sale and in the listing put the new (costly) parts in the ad, but that will require dealing with people.
If I were in your shoes, and I sort of was about 2 years ago, I would pick a price for which you are willing to sell that is reasonable but a little below what you think the market will bear. It should lead to a quick sale to a dealer or a private party.
There are definitely people who will shop for a new vehicle for you and include getting rid of current steel. They will advise on what is the best new or replacement vehicle for you based on your needs (e.g. 3 kids and a camper to be pulled) and haggle the price with a dealer. That includes trade-in.
I would also conisider family and friends. I am the designated seller in my (ex) wife's family. I have negotiated 3 dcar purchases for them. I think it is easier for me than them because I ask them what their top price to buy is and their bottom price to sell and I just never violate those numbers. If I cannot get a deal done at those prices or better, I walk away to another dealer or transaction.
posted by JohnnyGunn at 9:19 AM on April 27, 2022 [2 favorites]
Here is a one guide to a car concierge or a car broker. Search for "car buying service" or "car concierge", etc.
posted by JohnnyGunn at 9:26 AM on April 27, 2022 [1 favorite]
posted by JohnnyGunn at 9:26 AM on April 27, 2022 [1 favorite]
CarMax is quick and easy, and you will not get the maximum amount. But you can get it done in an hour. You can get a quote online.
posted by BlahLaLa at 9:44 AM on April 27, 2022 [3 favorites]
posted by BlahLaLa at 9:44 AM on April 27, 2022 [3 favorites]
My MIL, helped by my husband on doing the "techy stuff", arranged for a Vroom sale. (She had just moved to an independent living facility from out of state, and Atlanta traffic was too hard for her to deal with.)
It took a day to get the offer and another few days to have the car picked up. She didn't like setting up for a wire transfer, so she was mailed a check within a few days.
It saved her and my husband so much effort. Since she has 2 kids plus spouses, etc in town, we are happy to take her places that her apartment doesn't have a bus to.
posted by heathrowga at 10:07 AM on April 27, 2022
It took a day to get the offer and another few days to have the car picked up. She didn't like setting up for a wire transfer, so she was mailed a check within a few days.
It saved her and my husband so much effort. Since she has 2 kids plus spouses, etc in town, we are happy to take her places that her apartment doesn't have a bus to.
posted by heathrowga at 10:07 AM on April 27, 2022
When we’ve sold cars in the past, we’ve gone into Carmax for a guaranteed quote that would get locked in for 5? 7? says, then listed it’ll the car for sale online knowing the price we’re trying to beat. If it sells for more, great, if not then we have a fallback.
posted by Nonsteroidal Anti-Inflammatory Drug at 11:33 AM on April 27, 2022 [4 favorites]
posted by Nonsteroidal Anti-Inflammatory Drug at 11:33 AM on April 27, 2022 [4 favorites]
Step 1. Get a bunch of quotes from a few online services (Carvana, CarMax, etc). They're all absolutely desperate for cars to buy right now so this will be easy - you just enter in the car info and they give you a quote. They will also take care of most of If you're happy with one of those, great.
Step 2. If you feel like it's worth your time to try to get more of it, then throw it on craigslist and offer it for more there. People will try to haggle with you, but you don't have to participate, you can just tell them the price is firm. This is a lot more work, with fielding offers, meeting with buyers, dealing with the paperwork, etc. Might not be worth it.
Step 3. If you want to exhaust your options: Try one of the car-buying service as mentioned above, and you'll probably get a price somewhere between CarMax and the best possible craigslist price. They will also take care of the paperwork.
posted by lunasol at 1:00 PM on April 27, 2022
Step 2. If you feel like it's worth your time to try to get more of it, then throw it on craigslist and offer it for more there. People will try to haggle with you, but you don't have to participate, you can just tell them the price is firm. This is a lot more work, with fielding offers, meeting with buyers, dealing with the paperwork, etc. Might not be worth it.
Step 3. If you want to exhaust your options: Try one of the car-buying service as mentioned above, and you'll probably get a price somewhere between CarMax and the best possible craigslist price. They will also take care of the paperwork.
posted by lunasol at 1:00 PM on April 27, 2022
The second to last sentence in step 1 should read "They will also take care of most of the paperwork."
posted by lunasol at 1:49 PM on April 27, 2022
posted by lunasol at 1:49 PM on April 27, 2022
Seconding going to Carmax first -- they offered me $2000 above the Kelly Blue Book value. Then you'll have a data point to negotiate the trade-in with your dealer. In some states you can deduct the trade-in value from the sales tax when buying from a dealer, so dealers typically try to low-ball you knowing this. However in this market, the dealer gave me exactly what Carmax offered.
posted by credulous at 2:17 PM on April 27, 2022
posted by credulous at 2:17 PM on April 27, 2022
Thirding CarMax. Last summer they gave me $10k (well over KBB) for a 6 year old car that drove great but had tons of dings & scratches. Easy process. Maybe took 1-2 hrs on site, after i’d already gotten a quote online from them (for a lower amount).
posted by armoir from antproof case at 2:50 PM on April 27, 2022
posted by armoir from antproof case at 2:50 PM on April 27, 2022
I sold my used Honda Fit on AutoTrader in 2019. There was one scam attempt, but a reliable buyer found me and I got my asking price.
Get paid in cash, meet at your bank or credit union for the transaction during the day, and have a teller or CS rep check the bills for authenticity before you hand over the keys.
posted by Sheydem-tants at 11:58 PM on April 28, 2022
Get paid in cash, meet at your bank or credit union for the transaction during the day, and have a teller or CS rep check the bills for authenticity before you hand over the keys.
posted by Sheydem-tants at 11:58 PM on April 28, 2022
This thread is closed to new comments.
posted by JoeZydeco at 9:16 AM on April 27, 2022 [5 favorites]