Maybe you’re finally ready for that upgrade. Maybe you want to switch from a sedan to an SUV. Maybe you’re not driving nearly as many miles as you thought you would. Or maybe you just need the cash. Whatever the reason, when you prepare to sell your car, you need to have a plan of action in place. Get ready to take these few key steps to recoup the best price for your vehicle. 

There are a couple routes you can take: sell to a dealership or a third party or conduct your own private sale. In our experience, this really depends on your end objective, speed and convenience or a higher dollar amount.  

With a dealership or used-car superstore, it is a relatively immediate transaction. You can take your car in and get your offer within an hour or so. If you opt to trade in and buy a new vehicle directly, you can put that amount toward your next car. However, keep in mind that the dealership is taking on a risk of reselling. It has to ensure that it will be able to make a profit in its next transaction, after considering the cost to keep the car maintained and stored in the meantime. With this, recognize that you’ll ultimately be getting a lower offer. 

In comparison, if you opt for private sale, you will have the opportunity to earn more, but count on spending extra time and effort in the process. You will need to do the legwork to understand the worth of your car, as well as oversee the advertising of it. There is also no guarantee that you’ll get the price you want. You could be waiting for a long while. 

Now that you’re squared away on that front with your decision made on how to sell, there are a few key steps you need to account for.

If you’re ready to make the plunge, get going with your research and check options in your area. While you might be ready to unload the car immediately, we highly recommend ensuring you’re aware of your options and to take your time.