Car selling advice

[sdpapet]

Hi, I am living in Tennessee. I want to sell my Sonic LT auto 2013, but I have no experience to sell a car. Can anyone me some advice? I have some questions. My car is really low mileage, 31,000 miles. I own this car and it is under good maintenance.

1>Is Carmax a good place to sell a car with a good price?

2>I use KBB to evaluate my car price. The price that I get is really low.

3>Anyone can tell me how much is decent price for my car.

Thanks,
Ben

 

[Papasonic]

KBB will give you a general idea of your cars' value based on location and condition. They will give you options such as selling to a private party, trading to a dealer and them giving a cash offer. The last two options are usually the wholesale value; a private party sale gives the highest price but involves more effort to market and sell yourself. Facebook has a Marketplace to list items for sale, Craigslist is another; Google selling vehicle privately to see many other options.
Most larger dealers also purchase vehicles with a cash offer, but again the offer is a wholesale value.
Unfortunately the Sonic doesn't maintain a favorable resale value. Selling privately will generally net the highest price for your used vehicle. Maybe someone in the family or friend, or friends of friends may need a vehicle such as yours. If selling privately, be careful about payment; get a certified check or cash to protect yourself.

 

[jackgopack4]

Hi, I am living in Tennessee. I want to sell my Sonic LT auto 2013, but I have no experience to sell a car. Can anyone me some advice? I have some questions. My car is really low mileage, 31,000 miles. I own this car and it is under good maintenance.



1>Is Carmax a good place to sell a car with a good price?



2>I use KBB to evaluate my car price. The price that I get is really low.



3>Anyone can tell me how much is decent price for my car.



Thanks,

Ben

I’ve heard good things about Carvana but definitely don’t expect to get as much as you might from a private sale.
They’ll even come pick up your car from you.


Sent from my iPhone using Tapatalk

 

[2014 Blue RS]

CarMax are major low ballers I hear.

 

[gnonne]

Well, I've been buying/selling for a while now... Seems like every used car is worth a small fortune, unless I own it...

Lately, I've been looking at hybrid/electric cars, which, go "cheap" in Michigan. The problem is they are at least twice what my car would bring on Craigslist.

My advice - if it drives well, keep it till the wheels fall off. Then buy as lightly used of a car as you can find and keep it just as long.

 

[sdpapet]

KBB will give you a general idea of your cars' value based on location and condition. They will give you options such as selling to a private party, trading to a dealer and them giving a cash offer. The last two options are usually the wholesale value; a private party sale gives the highest price but involves more effort to market and sell yourself. Facebook has a Marketplace to list items for sale, Craigslist is another; Google selling vehicle privately to see many other options.
Most larger dealers also purchase vehicles with a cash offer, but again the offer is a wholesale value.
Unfortunately the Sonic doesn't maintain a favorable resale value. Selling privately will generally net the highest price for your used vehicle. Maybe someone in the family or friend, or friends of friends may need a vehicle such as yours. If selling privately, be careful about payment; get a certified check or cash to protect yourself.

Can you tell me what is the whole sale value?

 

[Papasonic]

Can you tell me what is the whole sale value?

The wholesale value is what a dealer typically would pay for a vehicle that is purchased from an auction or another dealer. It is typically 10-20% below the retail value of a vehicle. This allows a dealer to be able to make necessary repairs and maintenance, and still maintain a reasonable profit when the vehicle is sold.
Typically the trade-in value is even less than wholesale.

Google the same questions that you've asked for more detailed info.

 

[sdpapet]

KBB will give you a general idea of your cars' value based on location and condition. They will give you options such as selling to a private party, trading to a dealer and them giving a cash offer. The last two options are usually the wholesale value; a private party sale gives the highest price but involves more effort to market and sell yourself. Facebook has a Marketplace to list items for sale, Craigslist is another; Google selling vehicle privately to see many other options.
Most larger dealers also purchase vehicles with a cash offer, but again the offer is a wholesale value.
Unfortunately the Sonic doesn't maintain a favorable resale value. Selling privately will generally net the highest price for your used vehicle. Maybe someone in the family or friend, or friends of friends may need a vehicle such as yours. If selling privately, be careful about payment; get a certified check or cash to protect yourself.

Yes, I did KBB, but I don't like the KBB estimate price. So I came here for help.:banana:

 

[Gimpster]

So, Carmax is interesting. I have taken a three cars there for giggles, one which resulted in a sale. You can tell when they don't want a car, they just insult you out of there basically. That said, its very low hassle/no pressure.

1.) '08 Audi A4 Avant 1.8T w/70k in 2014 - Carmax offered me VASTLY more money than I expected, and I did a backflip out of there with a check. This car was coming up on needing its timing belt, and had all sorts of other small issues. They pretty much gave me "excellent" private party money, I have no idea why. I looked and I never found evidence this car went on their lot...

2.) '08 Chevrolet Cobalt SS/Turbo in 2014 - Carmax offered me like 3 grand, ran fine miles were 82k. I did not take this offer and sold privately I get it, the car was a Cobalt and would go straight to auction. I got 7.5k private as I recall.

3.) '05 VW GTI 1.8T in 2013 - Carmax offered 1k for the car, and it was really reasonable miles/no issues. I did not take this offer and sold privately I get it, the car was old and would go straight to auction. I got 3.5k private as I recall.

So that is my experience with carmax.

What prices are you seeing "you don't like"? I would not expect > 4k for my '13 LT 1.4T/M6 w/64k. Especially considering I paid 6k OTD for it from a tier 1 dealer w/58k....

 

[sdpapet]

Hi guys,

How did you guys sold to private? I don't have any experience? Where did you post it? Craigslist? If someone comes by and asks for a test drive, I should site in the car right? What if he is a bad driver and hit some one?

Also, if i go to Carmax and ask them to check my car and offer a price, do I have to pay for it? Let's say I don't like the price they offered?

So, Carmax is interesting. I have taken a three cars there for giggles, one which resulted in a sale. You can tell when they don't want a car, they just insult you out of there basically. That said, its very low hassle/no pressure.

1.) '08 Audi A4 Avant 1.8T w/70k in 2014 - Carmax offered me VASTLY more money than I expected, and I did a backflip out of there with a check. This car was coming up on needing its timing belt, and had all sorts of other small issues. They pretty much gave me "excellent" private party money, I have no idea why. I looked and I never found evidence this car went on their lot...

2.) '08 Chevrolet Cobalt SS/Turbo in 2014 - Carmax offered me like 3 grand, ran fine miles were 82k. I did not take this offer and sold privately I get it, the car was a Cobalt and would go straight to auction. I got 7.5k private as I recall.

3.) '05 VW GTI 1.8T in 2013 - Carmax offered 1k for the car, and it was really reasonable miles/no issues. I did not take this offer and sold privately I get it, the car was old and would go straight to auction. I got 3.5k private as I recall.

So that is my experience with carmax.

What prices are you seeing "you don't like"? I would not expect > 4k for my '13 LT 1.4T/M6 w/64k. Especially considering I paid 6k OTD for it from a tier 1 dealer w/58k....

 

[Gimpster]

1.) You Carmax appraisal is 100% free, and you are under no obligation to take the offer. The offer is good for like a couple days, I think 3? I forget now. Their offer is non-negotiable, it is .. what it is.

2.) When conducting test drives, yes I would accompany the buyer. As for who's insurance, assuming the potential buyer is even insured on an auto policy, might depend on your state. Here in Iowa, I would be liable to my insurance since I am the legal owner and named insured.

As for where I list a car for sale... it just depends. I've used craiglist, autotrader, facebook marketplace, forums like this.. or a combination of all of those. I have tried eBay before, but the couple times I've "sold" a car on there the buyer flaked out and was a huge waste of time.

Don't get scammed by someone with a bogus cashiers check, you have to be really diligent these days.

Hi guys,

How did you guys sold to private? I don't have any experience? Where did you post it? Craigslist? If someone comes by and asks for a test drive, I should site in the car right? What if he is a bad driver and hit some one?

Also, if i go to Carmax and ask them to check my car and offer a price, do I have to pay for it? Let's say I don't like the price they offered?

 

[sdpapet]

Thanks. So, did you do cash or bank transaction? I know I need to sign and release the title? How should I do this? Get the money first and give him the title. What if he disagree with this? He might want to do the title first? Do I need a public notary?

 

[Gimpster]

I do all of my business at the bank/credit union, either theirs or mine. Wire transfer (after validated in my account), cash or cashiers check drafted in my presence. Only then may the buyer have the title.

 

[gnonne]

Its really not that hard, unless you want too much money, then it will never sell. I've sold a couple on Craigslist - lots of callers, but not many serious buyers.

Don't agree to anything until they show up in person. Go with them on the test drive and if the tow of you agree on a price, give them only 24 hrs to come up with cash. If they can;t come up with it, you can sell to someone else. All of this is generally negotiated verbally.

When they do call back to set up the transaction, I'd schedule it at your bank or at the local DMV office. This way there are others around as witnesses.

 

[sdpapet]

Its really not that hard, unless you want too much money, then it will never sell. I've sold a couple on Craigslist - lots of callers, but not many serious buyers.

Don't agree to anything until they show up in person. Go with them on the test drive and if the tow of you agree on a price, give them only 24 hrs to come up with cash. If they can;t come up with it, you can sell to someone else. All of this is generally negotiated verbally.

When they do call back to set up the transaction, I'd schedule it at your bank or at the local DMV office. This way there are others around as witnesses.

Thanks. Well, it is my first to sell a car. I am just little concern about meeting a bad test driver or fake checks.