When you’re selling a vehicle, you want to make sure that you’re getting the best possible price.
Not everybody is a car expert, so it’s difficult to know just how much your car is actually worth. It can sometimes be overwhelming to navigate selling a car, so people will often settle for less than the true value just to get the process completed.
At times like these, when we could all use a few extra dollars in our pockets, we think it’s important that sellers are getting exactly what their car is worth. So, we’ve pulled together a handy, simple guide to help you get more cash for your car. In this guide, we’ll tell you how to evaluate your car’s value, where to sell your car for the best price, plus more tips to sell your car for cash.
What you'll need to sell your car
Before we dive in, we thought it would be useful for you to have a checklist of some of the documents that you’ll need to sell your car for cash. It might vary a little from state to state, but here’s a general checklist.
Vehicle title
The title holder is the car’s owner. When you sell, you’ll sign the title over and give the new owner the car keys.
If you’re still making payments on the car, your title will be in the hands of a lienholder e.g. the bank or credit union that loaned the cash for the vehicle purchase. In this case, you’ll need to contact them to determine the loan payoff amount.
Car registration
This one’s fairly simple — you’ll need your registration card to prove ownership!
Maintenance records
Having proof of your car’s maintenance history will help to get the trust of your buyers.
Vehicle history
Having a Carfax report handy will help you seal a deal with a potential buyer. You’ll need your vehicle identification number (VIN) to retrieve that report.
Odometer Disclosure Statement
This includes the:
- Year, make, model, and vehicle identification number (VIN)
- Buyer’s name and address
- Buyer’s signature
- Seller’s signature
- Current vehicle mileage at the time of sale
Factors that determine cash value
Now let’s take a look at what contributes to a car’s overall value.
The make and model
The car’s make and specific model relate directly to the value, as it’s impacted by demand and popularity.
Age
The age of your car is also a big factor in your car’s valuation. The younger it is, the more it’s likely to sell for.
Condition
If you’ve kept your car in great condition, then you’ll get more money when you sell it. This is also where your service history can come into play.
Mileage
Similarly to age, the more miles you’ve racked up, the lower the value of your car.
Vehicle History
Your vehicle’s previous history plays an important part in determining the value. Vehicles with accident history, multiple owners, title history issues, etc are worth less than cars without issues.
How to increase cash value
Looking to increase the value of your car before selling? Here are our top tips for getting more cash for your car.
Ensure it’s clean
People pay more for a clean car than a dirty one. Professional cleaning doesn’t have to be expensive, yet it can help to bump up the value of your vehicle. Potential buyers equate a clean car with a well cared for one.
Get it in good condition
As we mentioned above, the better condition your car is in, the more it will sell for.
However, you don’t want to invest too much in doing up your car, because although it might increase the car’s value, you may not recoup all of your additional investment.
We’d recommend a few cosmetic repairs to increase your car’s cash value — e.g. fixing any dents, scratches, and scuffs.
Get your paperwork in order
We’d recommend getting your documentation ready as soon as you’re looking to sell your car. You don’t want to waste time searching for vital paperwork and risk losing out on good offers.
We’d recommend a few cosmetic repairs to increase your car’s cash value — e.g. fixing any dents, scratches, and scuffs.
Sell privately
Selling a vehicle to a dealership can sometimes be convenient, but you won’t be getting the true value of your car.
By selling privately, you’ll be able to open up your sale to multiple potential buyers, plus it gives you the power of negotiation.
When selling your vehicle on an auction style platform, buyers bid against one another, which also helps to drive up the price of your car. Auctions are also more likely to attract car collectors and enthusiasts who may value your car higher.
Make sure it’s fully serviced
Buyers want to save the hassle of getting the car serviced. Plus, it saves them from encountering any unwanted surprises. People are willing to pay more for cars that are safe and ready to drive.
Where to find your car's cash value
Want to find out how much your car is actually worth?
You can save yourself the hassle of shopping around for prices by using a free online valuation or cash offer tool.
Motobyo has an instant cash offer service that will give you a guaranteed cash offer within seconds. Once you have a real cash offer in hand, you can make a decision on how you’d like to sell it.
Sell your car for more cash with Motobyo’s hassle-free tools today!
FAQ’s
How much cash can I get for my car?
The value of your car will depend on the make and model, age, mileage, condition and history.
Can I sell my junk car for cash?
Yes, you can get a cash offer for your car within seconds using Motobyo.
Where can I sell a nice car for cash?
You can sell your car for cash with Motobyo’s instant online cash offer, by listing your car on our trusted marketplace or through our online car auction.
How do I get the most cash for my used car?
You can increase the cash value of your car by making sure that it’s clean, in good condition, and is fully serviced.
Cutting out the middlemen and selling your car privately will get you more cash than selling to a dealership.
