Don't Settle for Less When You Sell an Old Car
The easiest way for learning about depreciation is to sell your old car. As soon as you've driven your brand-new vehicle off the lot, you've shaved thousands of dollars off its value. The car is no longer worth the retail price (what you paid); now, it only has its wholesale value, or what a dealer would pay if you tried to sell it back. Continue to drive it over the years and you'll see the value drop even further. It's not a pretty picture.
Admittedly, you aren't likely to return your new car right away, but a typical old car faces a similar challenge when it comes time to sell. After a year, the average car loses 15-20% of its value. For every year following, the car declines another 15-20% from the previous year's sum.
Make the Numbers Work for You When You Sell Your Car
The situation isn't hopeless, and you can still get a fair price for your vehicle. For starters, you'll want to check the Kelley Blue Book, the authority for car pricing. The Kelley Blue Book designates the best used cars as being in "excellent condition," and the guidelines are clear.
According to the Kelley Blue Book, "excellent condition" applies to a car that has had no paint or body work done. It must be free from blemishes and scratches. The car's mechanical condition must be top-notch, and its engine should have no leaks. Finally, the auto requires a clean title and must pass a smog test.
Your old car isn't completely ready for sale, though, and this might be the hardest part of all. The automobile must have complete and verifiable service records. If you have the paperwork for your old car, congratulations--only 5% of used vehicles qualify for this category. When you add up all these factors, it can seem pretty tough to sell your car for the top price.
You and Your Old Car Can Beat the Statistics
We have another method for selling your old car, whether or not it's in "excellent condition." Surprisingly, it doesn't involve placing an ad, personally dealing with potential buyers, or filing the required paperwork. Even better, you won't have to bring your car to a dealership and get ripped off by the sales staff. It's called an auto buying service.
We require only 30 minutes of your time and guarantee you a better price than you'd get from a dealer. Best of all, it's free.
We are Southern California's largest and most respected auto buying service with over 25 years' experience and over 50,000 vehicles bought and sold.
Give us a call, and we'll set up an appointment at your convenience to appraise your vehicle. Then we'll make an offer on the spot, getting cash in your hand same day. We handle all details, so you won't have to worry about a smog check, paperwork, or handling dozens of visitors.
If you'd like to find out more, feel free to give us a call at our toll free number. Or just click here, provide your contact information, and a trusted valuation expert will be in touch shortly.
We look forward to hearing from you.
