New question - how would you sell your car?

[kdibattista]

*** UPDATE & NEW QUESTION ***

Thanks everyone!!! Talked to DH and we decided it is probably going to be more hassle to break the lease so we are going to sell his truck. The good news is based on the Kelly Blue Book private sale value and what I'm seeing listings for, we should be able to clear enough to pay for half of the adoption!!!!!

Now, what have you found to be the best way to sell a car privately? We are going to put signs on it but would you list online, in the paper, other ways??? We have never done this before and are clueless

Thanks



Does anyone have any experience with breaking a car lease? I will be calling to find out but wanted to hear personal opinions.

Our situation...

I leased a Chevy Tahoe last year (before deciding to adopt) and now I curse myself every day that we are wasting money that could be going towards the adoption. My mom has a really old car that we could have (I just need something to get me back and forth to work) so we are looking to downsize. We are hoping that we can sell DH's truck for a big enough profit to be worth it but if we can't then we are looking to break the lease of the Tahoe. I have no clue what this would entail and I'm hoping I can get some personal experiences before I contact our leasing company (GMAC).

Thanks... as always

 

[vettechick99]

Hi! I don't know much about breaking a lease, but I do know you'll probably get screwed (what's new there?!). You can try and have someone take over the remaining time on it - friend or relative? Also try swapalease.com or leasetrader.com.

Good luck!

 

[HayGan]

Have you looked into what the payoff is and what you could sell it for? You may be able to go that route and avoid hassles with your creditor (and credit report!)

 

[3DisneyBuggs]

I heard you have to be very careful when breaking a lease or having someone take it over. That's the only advice I have- be careful. Good luck with the adoption!

 

[kdibattista]

Thanks everyone!!! Talked to DH and we decided it is probably going to be more hassle to break the lease so we are going to sell his truck. The good news is based on the Kelly Blue Book private sale value and what I'm seeing listings for, we should be able to clear enough to pay for half of the adoption!!!!!

 

[HayGan]

Sounds like a great plan You'll need that Tahoe for your growing family anyway!

As for selling a car, we had good luck with selling mine through the local Autotrader. If you have one in your area I would go that way! I would tack on some extra to your asking price in order to have a little room for negotiations!

 

[golfgal]

I would check with Edmunds.com for a better selling price then the Kelly Blue Book. Usually most cars sell for under the blue book value. The Blue book is better suited to banks and figuring financing amounts for cars.

One thing to make sure happens is that the title gets transferred to the new owners and you have no responsibility for the car anymore. My dad sold a car in a private sale and the new owner never transferred the title. The new owner was involved in a hit and run and the police called my Dad about it. He at least had proof that he sold the car through a copy of the cashier's check he took so he didn't have to worry about being arrested. He went down the next day and transferred the title over to the new owner.

 

[The Mystery Machine]

Auto Trader is how you sell.....Pay to get the pic taken and it it goes in your local picture book (found at gas stations) and online now.

http://www.autotrader.com/

 

[golfgal]

I know you said that you aren't going to break your lease but just for future information, a lease is not like a loan, you can't "pay it off early" and save money. Yes, you can pay it off early but you still pay the same amount for the car or what ever you are leasing if you pay it off at the end of the lease or the middle of the lease. Cars often have a huge buy out at the end of the lease if you want to keep the leased car too. It is usually never a good deal to pay the buyout and keep a leased car at the end.

If you are leasing office equipment, most of the time those are a buck out lease so you pay a dollar at the end of the lease to keep the equipment (sometimes they are fair market values and 10%'s too, but most are $1 out).

 

[Eeyore'sthebest]

We've always sold used cars through the regional paper in our area. They have an option to add an internet listing and we always do that.
Give yourself some wiggle room on the price because no one will pay what you list in the paper. Everyone wants to get a "deal". Good luck with everything.

 

[cardaway]

Around here there is a popular dedicated classified ad book called the "Truck Trader". Any good trucks advertised in there don't stay on the market long.

 

[arminnie]

Craig's List, sign in window, fliers at work or grocery stores. Hit a lot of bases.

I just sold a 10 year old Honda Odyssey for $7000. Trade in would have been about $4000.

Clean the vehicle exceptionally well - very thorough. I don't know that I would personally pay for a detail, but I sort of did a do it yourself detail. I also provided all of the service records so they knew it had been very well maintained.

 

[ZachnElli]

Just an FYI, my dh has broken 2 leases without any problems. The first one he just sold outright. The second, he just did less than a month ago, he found someone to take over the lease. The thing is, you have to negotiate the total price of the vehicle when you lease, just like you were buying it so that your payoff isn't some huge ridiculous amount. Dh pocketed some money the first time because he got the SUV for such a low amount and this last time his lease payment was really low for such a nice car.

 

[Jrsy Boy]

I used Cars.com to sell my 10-year-old Honda (with 129,000 miles on it) a few years ago. I had a check in my hand for the exact asking price in about a week. You can also print out "For Sale" signs that can show the Blue Book value right on them or flyers with a picture of the car, the price, Blue Book value, contact info, etc. right from the website. Check it out...

 

[kdibattista]

Wow... thanks everyone for the suggestions!!! I really appreciate it and will look into all of them.

 

[ducklite]

I second the advice about cleaning it up. DH cleaned mine up pretty much spotless. He scrubbed the outside, including the rims and all, then waxed it. The inside was cleaned out and Windexed. Not a spec of dust or grime. He vacuumed the whole interior out, and even power washed the floor mats. (Can you tell he's got a new toy? )

We priced it $350 under private party book value to generate interest.

Anne