There will be times in life where you will need to sell your vehicle quickly, such as your private life, moving out of town or needing to pay off your creditors quickly. Selling a car under normal circumstances is difficult, but trying to do it in a hurry can be downright stressful.
By selling the vehicle quickly, you may be forced to accept a price that is lower than the asking price and it may take longer than you want. To get started, you'll need to find a fair market value by using a site like Kelly Blue Book. From there, ask yourself how much time and effort you honestly want to put into selling, including cleaning, mechanical inspection, and advertising. When looking for ways to sell a vehicle quickly, there are several options available.
Sell it yourself at a discounted price
Option two is to discount the price below market value and sell it on your own. The best way to do this is by posting it online on sites like Otomoto. To get started, exchange your vehicle by following the instructions on the site and make sure its price is below its fair market value. But it will be a hit or a miss when selling such a car, especially if it is not in great demand… even at a bargain price.
Negatives: you have to clean up your vehicle, take pictures for the ad and create a catchy description. Meeting local potential buyers for a test drive can be time consuming and awkward. Some may be suspicious when the price is really low and as a result price negotiation may still be involved. You will also have to take care of all the paperwork, and if the buyer lives far away, you will have to arrange a more complicated delivery.
Sell it privately to a friend
Another quick selling choice is to do so with a trusted friend who may have had an eye on your car for a while. The trade should come close to true market value, but this is obviously not given. No advertising is needed in this scenario, especially if your friend already knows the vehicle. You may not even need to clean up a lot, but you should ask a mechanic to check it out out of respect for your friend.
Negatives: If something goes wrong during the negotiation or after the sale, your friendship can be captured. Friends can also try to take advantage of a situation, especially when they know you are in a difficult situation. Some price haggling may be involved and always watch out for suspicious payment arrangements. Your responsibility for the transaction documents will also be yours, which can be confusing.
Sell it to a car buying company
Another strategy to apply is unloading via a car purchase service. Carmax is a buying site with actual lots, so if there's any nearby just drive in, check your car and make you an offer. Then you have mom and pop lots that hang signs around town with slogans like, "We pay the highest dollar for used cars."
Negatives: starting with online shopping services, you need to take photos of your car, publish them with a description of the vehicle on the site, arrange sales documents and arrange delivery. The vehicle will also need to be cleaned and inspected prior to final sale. When it comes to mom and pop shopping services, if that sounds too good to be true, it probably is. Their main disadvantage is that they lower prices and that these companies are very picky about the cars they buy.