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5 Worst Mistakes When Selling Your Car

5 Worst Mistakes When Selling Your Car

It’s time for a new set of wheels. Maybe you’re ready for something newer, faster, bigger. Or maybe your current ride is collecting problems faster than your paycheck can cover. Either way, you need to get as much money as possible from your old car. But stumble into one of these common pitfalls, and you could lose hundreds of dollars or blow the sale entirely.

Here are five of the worst mistakes to make when you are selling a car, and how you can avoid them:

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Skip the Wash


If your car is full of dog hair, stale cheerios and food wrappers, the trash distracts a potential buyer from seeing your car’s actual condition. A washed car always looks better and a clean interior always smells better, making your ride more enticing all around. This also shows the buyer that you take care of your car.

At the very least, do a thorough vacuum and scrubdown. With this illustrated guide, washing and drying will take you about an hour. Plan on a full detailing if your asking price is more than $5,000. This includes shining the interior, washing the windows inside and out, and applying a glossy new coat of wax.

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Head Straight to the Dealer


One of the easiest ways to unload your old car is to trade it in at the car dealer, where selling and buying happen in one step. However, this gets you the least amount of money for your car. Trading in a 2009 Hyundai Elantra (for example) nets you a $5,400 credit at the dealer, but puts $6,800 in your pocket if you sell the car yourself. Overall you’ll save several hundred dollars, even if you need to rent a car for a few days before you buy your next set of wheels.

Use the Wrong Price

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Tips for selling your car

    Many people don’t realize there is more than one blue book — using the right price from the right book makes a big difference. The well-known NADA Guide lists retail prices for dealers and banks but isn’t a good source when selling your own car. Use a site like Kelley Blue Book to find the private party value (the term for selling your car directly to another person). Enter in your zip code, select your car’s options and estimate its condition to determine fair market value.

    Forgetting the Paperwork


    Before you list your car, get all of the paperwork together. Make sure you know where the title is and get two copies of a bill of sale (one for you, one for the buyer). These are often available for free at your local DMV office; if you use a blank template, make sure it’s valid for your state. Keeping a copy of the bill of sale is important for two reasons: first, it helps protect you from liability if the buyer is in an accident before they transfer the title into their name. Second, the “as-is, where-is” clause reiterates that you aren’t including any warranty or making any promises about the condition of the car.  Ultimately, it’s up to the buyer to inspect the car for mechanical issues before they buy.

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    Take a Check

    Tips for selling your car

      Scams with cashier’s checks have been in the news for years. If you aren’t familiar with this rip-off, it goes like this: You get an email from someone that’s living in another town or out of the country or otherwise unavailable. They want to buy your car sight unseen and send you a cashier’s check for the full asking price. It sounds too good to be true because it is — resist the temptation of this seemingly quick sale. But even if a buyer meets you in person, it’s generally not a good idea to accept a cashier’s check (which may be forged) or a personal check (which can have the payment stopped after they drive away). It’s best to take cash only. If you feel uncomfortable driving around with thousands of dollars in your pocket, have the buyer meet you at your bank to finalize the sale.

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      Last Updated on March 29, 2021

      Life Insurance: A Secure Way To Protect Your Future.

      Life Insurance: A Secure Way To Protect Your Future.

      Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

      Importance of getting a life insurance

      No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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      On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

      Choosing the right insurance plan

      If you’re about to select an insurance plan, you should consider some important factors:

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      • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
      • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
      • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

      Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

      Differences between life insurance plans

      Here’s a short brief of some plan categories you can choose according to your needs:

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      • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
      • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
      • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
      • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
      • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

      Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

      So what are you waiting for? Plan for your future and live a happier and carefree life today.

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      Featured photo credit: aryehsampson.com via aryehsampson.com

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