How Would You Choose to Sell This Car?

July 15, 2024 11:17 AM

I am selling a recent-model, low-mileage SUV, and am trying to determine what is the best way to do this?

I have no experience selling a used vehicle, so I'm looking for guidance.

First the details: This is a 2019 Jeep Cherokee Trailhawk with about 7,000 miles on it. The only damage to the vehicle is that a rodent made a nest with some of hood insulation, so that is a bit chewed up. It was my aunt's, she recently died, and I have successfully transferred the title from her name to the estate's name. I am the trustee of the estate, so I am the person who is empowered to sell the vehicle. I am selling the vehicle; I will not own the vehicle or trade the vehicle in for another vehicle. The sale amount goes into the trust for dissemination to beneficiaries. I am in Los Angeles, CA.

I'm trying to figure out whether I should take the car to Carvana or Carmax, to a dealer, go private sale, or some other choice which I have not previously considered.

My major questions are:

What method will yield the best price-to-effort outcome, i.e. will Carvana rip me off by $2,000 or by $10,000? Will I need to take several days off work to deal with a private market sale?

How to minimize liability, i.e. the chance that somehow someone gets into a car accident with it and I learn downline that the trust is embroiled in a lawsuit because I didn't do the paperwork right?

Is private sale as simple as just exchanging a handshake and a title and a check, or do I need to get something formally acknowledged, notarized, blessed by the DMV, or something?

What about nightmare scenarios like: I opt for private sale, prospective buyer shows up for a test drive and wrecks the vehicle. That seems totally plausible and anxiety-inducing.

Should I somehow acquire a Carfax on the vehicle? Get it looked over by a mechanic? Pay for some kind of bill of clean health?

I have no idea how to do this and Googling this type of shit is overwhelming. What has worked in your experience? What am I not thinking about that I should be?

Thanks!!

posted by kensington314 to Grab Bag (6 answers total)

I was recently the executor for an estate and I totally understand your feelings of anxiety here about the paperwork/liability. You should be satisfied in getting fair market value for the car and finality rather than absolutely positively maximizing your return and dealing with some risk, so I would suggest Carmax as your best bet. They handle the paperwork and you get a check when you walk out the door and there's less risk about whether you put your name in the wrong box or used your SSN rather than the estate's EIN or whatever.

I would steer away from a private sale because (in addition to all the regular caveats about selling a car privately) the registration/bill of sale bit could be accidentally complicated. And in your case the car is probably sufficiently valuable that nobody is gonna show up with cash.

Carmax gives a written offer that is good for several days, so if you feel like the beneficiaries might second guess the sales price you could get a Carvana offer too and sell to the higher offer.
posted by AgentRocket at 11:36 AM on July 15, 2024 [1 favorite]

I think there is little downside to clicking through to get a Carvana quote right now so you have that out of the way and have a known quantity to compare other options too. Mine and my friends' experience is that as long as you are basically within reason on the way you fill out the Carvana checkboxes, they will give you what they said they would and there's no nitpicking or extra inspections or stress. However much you think they might care about inspecting the car, it's less than that.

I was very pleased with their offer on my slightly the worse for wear car and it was a no brainer.
posted by ftm at 11:38 AM on July 15, 2024

Carvana may not buy your car - it would have to be in your name:

https://www.carvana.com/help/sell-or-trade/can-i-sell-the-vehicle-as-the-executor-of-the-estate
posted by dforemsky at 11:54 AM on July 15, 2024

Another thing to consider, perhaps: is there someone in the family who is interested in buying it for a price that would be more than what you'd get selling to a dealer but discounted from market price? So you'd make a bit more for the estate, but still give a deal to someone in the family. This is only if they get a loan or can pay it outright, and only if it wouldn't create conflict in the family (like, if two or three people in the family all want it, it's too tricky).
posted by bluedaisy at 12:06 PM on July 15, 2024 [1 favorite]

Several years ago when I was in your situation, I got quotes from Carmax and the local dealer and sold it to the dealer, whose offer was higher. A five year old car with only 7K miles on it is likely to be a hot commodity to your local Jeep dealer, and you can rely on their experience filling out and filing all the paperwork.
posted by DrGail at 12:26 PM on July 15, 2024

I sold a vehicle as an estate executor in CA a few years ago and the paperwork was a pain. I'd recommend calling around to the sales managers at a few different dealers and offer to bring the car in for them to look at and make you an offer.

After several calls to the DMV and getting different answers each time about how the paperwork should be filled out, I eventually sold it to the local dealer where the owner of the car had had it serviced regularly. I'm sure I could've made more money on it with a private sale, but it was worth it to not have to deal with rando prospective buyers, and to have the dealer's paperwork people ensure that everything was completed correctly.

Is private sale as simple as just exchanging a handshake and a title and a check, or do I need to get something formally acknowledged, notarized, blessed by the DMV, or something?

Here's the general page on How To: Change Vehicle Ownership. (If you sell to a dealer, they will walk you through everything.) After you sell the car, you fill out the Notice of Transfer and Release of Liability. You will probably also want to complete some kind of bill of sale for the estate records, here's one from the DMV you can use if you do a private sale.

If you do do a private sale, you may want to close the deal at the DMV to be sure everything is completed correctly.
posted by fussbudget at 1:29 PM on July 15, 2024