Pricing my used vehicle for private sale

stanwelks

I have never sold a car, so I just want to make sure I am not overlooking anything -- I have a few questions.

1. I live in Los angeles, and downloaded a "Bill of Sale" form from www.DMV.org that I plan to fill out and have the other party complete

2. I downloaded a "Notice of transfer and release of liability" from www.DMV.org

3. I am planning to only accept cash

4. I am planning to hand over the pink slip when I receive the cash

Is there anything else I am missing or overlooking? Anything else that I am responsible for?

Thanks for any advice!!!!

jlawrence01

That is a car with some pretty serious problems - maybe $1500-2000 in repairs. With the problems that you have noted - any reasonable buyer will notice the suspension and alignment problems and wonder what else you have neglected that they have not identified.

When you are expecting "top money" - and Edmunds price is generally top money - you have to have a car that is in reasonable mechanical shape. Used car buyers expect to see a few dings, scratches, wear on the seats, etc. They do NOT expect to have to replace the CV boots, the timing belt, and other major maintenance work.

Personally, if I am looking at the vehicle, I am going to take a pass on the vehicle because finding a car - EVEN ONE WITH 92K MILES - with that many issues indicates that you have been deferring maintenance for quite a while. Replacing a timing belt on a Honda should be replaced sooner, what about 60k miles? Deferring maintenance saves a litle money in your pocket but it costs you when you go to sell the car.

cccompson

While I would disagree with jlawrence somewhat on the fix-up cost here, this model is so popular that if you didn't sell it to the first looker, your price is simply too high.

If timing belt replacement is recommended at 105,000 miles, put two tires on it and try $4995. Future maintenance costs are not legitimate points of contention in a used sale. If the timing belt should been replaced at 60 or 90K, either take care of it at that price point or slash your number to $4495 or less.

cccompson

The only other suggestion would be to conclude the transaction at whatever office issues titles in CA so that your buyer applies for (and gets) a new title in her/his name right then.

occupant1

Don't forget, to sell a car in California you need to have a smog certificate no more than 90 days old. Otherwise, if the car fails smog when the buyer is required to take it in, they can come back to you to pay for the repairs.

jipster

Two things. 1)Virtual no 9 year old car is in best condition. You've got it overpriced by a grand. Lower your price $750 and take $4,500 2) Why do you believe these people who are telling you about mechanical repairs needed. Might their motivation be they are trying to get a lower price? If one wanted to get picky you could say every item on the car needed to be replaced.

If it runs and looks good with no "obvious" mechanical issues, lower the price and sell "as is".

suydam

"Best condition" does not mean it needs CV boots and tires! Anyone taking it to a mechanic to get checked out would expect you to deduct from your price once they find this out, and they will then wonder what else is wrong or about to go wrong --A/C jumps to mind -- that you're not telling. Either drop the price and tell buyers it needs these 2 things but everything else is fine -- or fix up and then it will be "best condtion". Especially with that mileage it will be a good investment to get everything else in as good a shape as possible.

dkarsch

The best condition rating should only be used if you have a minimum of miles and could park it as is on a dealers lot and have it sell.

I do part time work for a auto wholesaler and I had that question for her when she was selling my Tacoma for me. Everyone wants to get the most for their vehicle but it is human nature to overvalue it.

With the problems and mileage you listed, there is now way a buyer would think it was in the best condition.

detmac

I have a 1990 jeep allegro laredo with 9223 miles garage kept driven by my wife perfect shape in an out a. c. needs charge .I have no idea what to ask for it or how to sell it.

cheshire1

What are my options for getting rid of a beater?

I am driving a 1995 Corolla DX, in the "looks terrible, runs OK" shape. I.e. - 180,000 miles, there is one major dent in the passenger door, with the paint cracked enough that it's starting to rust, I don't have service records, the car was in a decent sized accident 5 years ago, and the brake light has been on for the last 6 months or so. (I'm not detecting any loss in mileage, but it's somewhat alarming and prevents use of cruise control). It started losing oil last year, but seal renewing gunk seems to have taken care of most of that, at least for now. Oh yeah, and on top of that, the glass over the dash clock is cracked, I don't have a key to the trunk, the knob for the radio volume is gone, and one of the rear passenger seatbelts is broken.

Other than that, Ms. Lincoln, how did you like the play? Well, it runs fine, although a little loud. I was expecting to drive it for another year or so, and it would probably be good for a teenager who needs to get to a job for the summer and doesn't have a lot of money or pride. Edmunds says that I should expect about $100 from a trade-in and $400 from a private sale, but I would consider $200 a win.

Can I sell directly to an auto wholesaler (or junkyard)? If I put the car in the penny saver, can I reasonably expect anyone to buy? I assume that donating to charity is a sucker's game because the charity will sell it for $20, and that will be the limit of my deduction.

Thanks!

sebring95

I think you might be surprised what it's really worth on the street. A lot of folks driving pickups (and needing them for whatever personal use) are snapping up 4cyl beater cars to save on fuel for their weekly commutes. Stick it on craigs list for $700 and I'll bet you can get $500 easy. I just sold a '91 Escort with 250k miles for $400. It was my aunts car and she had fender-bendered about every surface on the thing.....but it ran and had decent tires. She passed away awhile back and we inherited the eyesore. I called one of the local charities twice to come get it.....they never did so I put it on craigs list and it drove off with a happy camper the next day.

jlawrence01

If it runs decently, you should get at least $500 for it. The only time you have problems IMHO is when you have unreasonable expectations.

jipster

but I would consider $200 a win

You're underestimating the value of this ugly car. If it starts and runs halfway decent, you should easily get $400. Private sell it with ad, " 1995 Toyota Corolla DX. Starts and runs good. Lots of personality"

kyfdx

I agree with the rest...you are underestimating the value of the car..

I'd put it on Craigslist for $995 and wave goodbye to the first person with real green money over $500... You might even see $700-$800 for it..

cheshire1

Thanks everyone - I've taken your advice and will let you know how it turns out.

stubborn1

Hi,

I'm looking to unload my truck and am trying to get a decent idea on where to price it. Here are the specifics:

SE WI
1997 Chevy K1500 Ext Cab 4x4 5.7L
161,000 miles

The good:
Air and heat are strong
Power windows / locks still work fine
Interior is in good shape
Runs strong
4wd works fine
50% tread on tires
No surface rust

The bad:
Front end suspension is loose. I know it could probably used a new pitman/idler arm and ball joints.
The rear main seal has a slow leak (drop the size of a nickel every day).
Transfer case has a slow leak (leaking output shaft seal - I may replace).
The bed has it's share of scratches and dings - I used the truck like a truck and didn't baby it. The tailgate is difficult to open.

I'm guessing I should still be able to get $2k. Anything 4wd that runs halfway decent in my area seems to bottom out on the depreciation scale around $1,500/$2,000. What do you all think?

cccompson

Stick it on craigslist for $3995 with some good clear pictures and a complete description. In the unlikely event you don't get any bites, you can come down.

cheshire1

Final report on my hooptie.

You were all completely right. I listed it for $895 on Craigslist at 7:30 pm on a Saturday night. By 8 pm, I had 20 messages, and by 9 pm, I had sold it for $850.

I guess that means I underpriced it, but it was a ton more than I could have gotten from the dealer, and I was glad to get rid of it without haggling. Still, I guess it will always haunt me that maybe I could have gotten $1,500.

According to the guy I sold it to, cars under $1,000 on Craigslist that run fine are like gold.

jipster

and by 9 pm, I had sold it for $850.

It ain't sold till you got cash in hand. You, or your wife, got cash in hand?
Hold onto those phone numbers if you don't.

Congrats if you do. I'll only take a $50 commission on all that money I helped you save. Send a cashiers check to Edmunds in care of the jipster... they'll know what to do from there. :shades:

cheshire1

I had a $200 deposit cash on hand. (The buyer hit his ATM limit, plus I didn't know I had to get the title notarized - we're closing the deal tonight).

If it falls through, I will refund the $200 and re-list the car at $1,195.

On that $50, I'll stick around long enough to "pay it forward," if that helps . . .

greanpea68

I have a 1990 jeep allegro laredo with 9223 miles garage kept driven by my wife perfect shape in an out

You have a vehicle that has been driven on average 500 miles per year?

gP

ruckus917

This is my first time trying to sell my car. I'm still making payments on the car, have about 4,000 left to pay. Im gonna sell for what my loan is to break even. The option of just paying it off before trying to sell it not an option. The money we get from the sale will go towards the car we are going to buy. Trade in is less then my loan. any ideas would be great. I do live in the state of Ny. Would I need the title at the transfer of sale.

thanks

gsemike

If you sell the car, you can't have a note outstanding on it. No one will take it off your hands because you intend to pay off that last 4 grand after using their 4 grand to put down on your new car. Why would you want to do that anyway? Carrying a note on a car that you don't even own any longer is not a good idea and it doesn't sound like you can swing two payments.

I live in NY as well. DMV will want to see a note releasing the lien before the next buyer can register it. If you were to sell it privately you'd need to find someone willing to work with you on that.

volvomax

Congrats if you do. I'll only take a $50 commission on all that money I helped you save. Send a cashiers check to Edmunds in care of the jipster... they'll know what to do from there.

Working for a mini, eh jipster?

ruckus917

I'm trying to sell to buy a van, trade in will not work cus they will give less than what i want for my loan. I dont have the money to pay off the loan.

volvomax

I'm not sure what you are asking.

Lets start w/ what you are selling.
Year, make,model, miles, condition.

ruckus917

I'm selling a 2001 Ford Taurus SES, 88,000, condition is good. new tires, and brakes. I have about 4,000 on my loan. So im trying to sell my car to pay off my car loan and then get a van. Trading in my car will not help because they will not give me that much. They would give maybe 3,000.

bolivar

In general, here is what might have to happen.

The buyer makes the check payable to you and the bank that holds the note. You both go down to the bank, you sign the check and give the check to the bank. The bank takes the check, and when the check clears, they sign the title over to the buyer.

This process can vary a lot state to state. What you really need to do is contact the bank or whoever holds the loan on the car, and talk to then about exactly how you are to go about sell the car and getting the title to the buyer. Banks, etc do this all the time, so they will know how it works.

mazda6dude

Need help pricing a 2007 Nissan Altima Hybrid Base with aluminum kickplates. Has 14,300 miles on it. Private and Trade value. Thanks.

gsemike

What will happen in NYS is that when the buyer comes in to register the car and the title has a lien, they will want proof that the lien has been satisfied. That's usually a letter from the bank. If someone buys the car with the lien outstanding, technically they can be held liable for it. No stranger is going to buy the car based on your promise to pay it off so you'll need to find someone willing to work with you and wait. It will make it harder to pay off the car.

sriramg

I apologize for posting again here. But this seems to be the correct forum than the previous one. Here is my question.

I bought a Toyota Corolla 9 months ago. It had been in a minor accident causing some scratches. I had got the vehicle inspected then and found it to be free of any mechanical problems. Also CarFax did not report anything serious other than an Accident indicator. I am trying to sell the car as I m returning back to my country and i m finding it difficult to sell to private parties. My car is a Toyota Corolla 2001 S and it has 106K miles on it. It has no defects at all whatsoever except for few scratches on the side of the bumper. The blue book value is $5645 for a good condition car, but there are no takers even at $5200. Am i not pricing it right ? I have mentioned the price to be negotiable.. I have had several people coming and test driving the car, saying that its good etc. etc. but no concrete offer yet. Anybody has any experience ? What would a dealer pay for such a car ? What would CarMax pay? Do they take cars that has been in accident ?
If you want to take a look at the car go to

Pictures of my car

grandtotal

The price is wrong. It must be because, in the current climate, Corollas even at 106,000 miles, sell easily. My guess is you would sell it easily somewhere in the $3500 to $4000 range.

volvomax

A car w/ an aciident indicator on Carfax is the kiss of death.
You are asking good money for a car that has been in an accident.
That ain't happening.

Trade for that car is prob $3,000.
I'd reprice the car if I were you.
Maybe at $4500 or best offer.

anniemal

Hi, I'm selling my '98 integra to a friend (sad to part w/). i agreed to fix the "slightly noisy exhaust". an estimate from an exhaust place says it needs $1500 in repairs to the catalytic converter/muflfler. it will not be a good investment for me since i'm selling low, knowing that it is a 10 yr old car, w/ 10 yr old parts. the car passed the Ca smog & the check engine light has never been on. what to do? just want it quieter not prrrfect. anyone got advice? pls let me know, thanks.

grandtotal

Sell it to someone else.

anniemal

ok, thanks. that's funny too.

kyfdx

Try another exhaust place..

If you went to Midas, then go to CarX..

Or, look for the local independent that keeps the hoopties running.. If it passes smog now, it's hard to believe that you can't find someplace to fix it for $300-$400 or less..

anniemal

thanks for the advice. i was thinking the same thing. you're gonna laugh @ me, but what are "hoopties"?

SAR21102

This may be the wrong place to ask this, but has anyone had any experience with the following. I know I've heard of it, but can't find any details:

---You are buying a new car from a dealer and selling your current car privately. In one sitting, you, in effect, sell your old car to the dealer, who then sells it to your private party. The dealer is effectively a very short-term middleman, and you reap the tax benefit of a trade-in.---

And when this is done, does the third party have to pay sales tax, even though he wouldn't have to if I just sold it to him without the dealer in-between? I don't want my buyer paying more than agreed upon.

I am in Maryland btw. Thanks! to anyone who can help, or direct me to more info before I ask my dealer about it.

oldfarmer50

"...what are "hoopties"?..."

Hoopties are beaters.

qbrozen

I'm not familiar with Maryland, but I would be very surprised if a buyer of a private party car did not have to pay sales tax. I know here in NJ, if I buy private party, I don't pay tax to the seller, but I do pay tax to the state when I register the car.

SAR21102

You're absolutely right; the tax applies. I wasn't aware of it until now. Just shows you can always learn something new...

anniemal

Thanks. I did try out an Independent in my area (Carlsbad Muffler). Excellent news, the muffler was hanging askew. Fixed in 5 mins for $10 ! What a bargain. Thanks for your help. sold my car to a happy friend.

kyfdx

Good deal! I love happy endings..

oldfarmer50

"...$10! What a bargain..."

And what a rip-off that other place was trying to pull. I would report them to what ever consumer affairs office your state has. If someone stole $1500 from you on the street you'd call the cops, right?

brock2525

I've got to get my wife out of this and into a 4-cyl midsize sedan. The V6 and 4WD is sucking down the gas. Here's the info

-Lexington, Kentucky
--2006 Ford Escape
-SUV
--3.0L V6
-4WD
--36,000 miles
-Exterior: Dark Red Metallic / Interior: Dark Grey
--1-touch programmable power sunroof, 6-disc CD changer, 6-way power driver's seat, tube-step rails, roof luggage rails
-No dings on exterior defects, a few small stains in the interior, otherwise its in great shape
--Still has factory tires which are in good shape
just got new brakes installed
-Never missed a maintenance check, has all oil changes and tire rotations, all factory maintenance inspections have been done
--Vehicle has never been in for bodywork or been in an accident

sebring95

Based on the trade number you'd see and the market for these at the moment, I think you'll be satisfied to keep paying for the gas!

brock2525

You may be right. I think we're going to put an ad in Autotrader and see if we get any nibbles. Can't hurt.

perkdaddy

I recently purchased a new car that I thought the family would like. Well the car is way too flashy and the family doesn't feel safe in the vehicle with the rash of car jacking incidents. I don't think I can take the car back to the dealership because it's past 7 days? One of the reasons I bought the car is because I got a great price for the car considering all of the BELLS, WHISTLES and MODIFICATIONS put on the car. I feel I could sell the car and maybe even make a profit since I negotiated a deal for a lower cost. What are your SUGGESTIONS on how I should approach this DILEMA? The car only has 91 miles on it and I have another vehicle I can drive while I figure out this situation? Help! Thanks in advance

dtownfb

What's the make and model of this car?

Most people that shop from private owners are looking for a deal, in other words significantly lower than what a dealer is offering. Personally, I would find the car that your family likes and see what a dealer will give you for trade first. Depending on what they offer would dictate whether I sold it on my own.