7 Myths About Selling a Used Car You Need to Stop Believing
When you’re ready to sell your used car, you might hear a lot of advice. Some of this advice is helpful, but other times, it’s based on myths that could make the process harder than it needs to be. In this article, we’ll go over seven common myths about selling a used car and clear up the confusion.
Myth 1: You Need to Make Repairs Before Selling
One of the biggest myths about selling a car is that you need to fix everything that’s wrong with it. While making repairs may improve your car’s value, it’s not always necessary. In fact, if the car is older or has major issues, the cost of repairs may outweigh the added value. Sometimes, it’s easier to sell the car as-is, especially if it’s still running.
- Save time and money: Selling your car as-is saves you the cost and time of repairs.
- Target buyers looking for project cars: Some buyers may prefer a car they can fix up themselves.
- Junk car buyers: Even if your car is in poor condition, junk car buyers will still pay for it.
Myth 2: Selling to a Dealer Gets You the Best Price
While dealers may offer convenience, they don’t always give you the best price for your used car. Dealers typically buy cars at a lower price to resell them for profit. If you want a higher price, you may be better off selling your car directly to a private buyer or a junk car buyer.
- Private buyers: Selling directly to an individual may get you a higher price.
- Online platforms: Websites like RunBidSell offer a quick and fair price for used cars, even in poor condition.
- Dealer profit margin: Dealers will buy at a low price and resell for a profit, so their offer will often be lower than what you could get from a direct sale.
Myth 3: You Should Clean Your Car Thoroughly Before Selling
Cleaning your car before selling it can make a good impression, but it’s not a must-do task. Buyers will care more about the car’s condition and performance than its cleanliness. If the car is in poor shape, cleaning it won’t make much of a difference in its value.
- Focus on repairs, not cleaning: If your car has significant damage, repairing it is more important than cleaning it.
- Interior cleaning: While it’s a good idea to clean the interior to make the car look more appealing, deep cleaning may not be worth the cost.
- Washing and waxing: Simple washes are enough unless you’re trying to sell a higher-value car.
Myth 4: You Have to Negotiate the Price
Many people think they must negotiate with buyers when selling a car, but that’s not always the case. You can set a firm price and stick to it. Some buyers may try to haggle, but you have the power to decline and wait for someone willing to meet your price.
- Fixed price: If you’re firm on your price, let buyers know in advance.
- Firm and fair: Offer a fair price from the start to avoid excessive negotiations.
- Instant offers: Some online services like RunBidSell give instant offers, so you don’t have to haggle.
Myth 5: You Need a Title to Sell Your Car
While having a title makes selling your car easier, you can still sell a car without one. If you’ve lost the title, you can apply for a replacement through your state’s Department of Motor Vehicles (DMV). Many buyers, including junk car buyers, will still accept a car without a title, though you may need to show proof of ownership through other documents.
- DMV replacement: Get a new title by submitting an application and paying a fee.
- Bill of sale: Some buyers will accept a bill of sale as proof of ownership.
- Junk car buyers: They often accept cars without titles, though they may ask for extra documentation.
Myth 6: Your Car’s Age Determines Its Value
A common myth is that older cars aren’t worth much, but this isn’t always true. A car’s value depends more on its condition, make, model, and demand than its age. A well-maintained older car can be worth more than a newer one in poor condition.
- Condition matters: A car’s mechanical and cosmetic condition affects its value more than its age.
- Classic cars: Some older cars, especially classic models, may have a higher value because they are in demand.
- Market demand: Some car models hold their value longer due to popularity or rarity.
Myth 7: You Can’t Sell a Car with Damage
Even if your car has damage, it’s still possible to sell it. Many buyers, including junk car buyers, are willing to buy cars with damage, whether it’s a minor dent or major frame issues. Depending on the extent of the damage, you may even get a good price for it.
- Junk car buyers: They are interested in cars with significant damage and may still offer a fair price.
- Repairable cars: Some cars with damage can be repaired, restoring their value.
- Sell for parts: Cars with major damage can be sold for parts, which can be valuable to buyers.