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Sell your car yourself
It was all going so well at the dealership.
The flavoured coffee was hot and sweet, the sales rep laughed at your clever joke, and that new car you’re ordering is going to drive the neighbours green with envy.
Then the matter of your trade-in comes up. She sends an appraiser outside to walk around your present ride. Sure, it’s got a couple of dings in the doors, but it’s a popular model and you’ve maintained it religiously.
The verdict is in: they’re going to give you $4,000 less than the street value of the vehicle.
Suddenly, everything sours. The coffee is bitter, the office is too bright and you feel an anxiety attack coming on. If you’re like most people, you contemplate walking out, but end up signing the deal anyway, resigned to the fact that all dealers are the same.
There is another solution.
Instead of surrendering your old car for what seems like an insulting sum (and you know it will be on the used-car stand the following week at double the price), you can sell it yourself.
While it’s not as common as it used to be, selling your car privately remains a viable option.
According to DesRosiers Automotive Consultants, half of the used cars on the market in 1993 were sold by their owners. Private sales dropped to 38 per cent of retail transactions by 2000, with new-car dealers picking up the slack.
If the notion of throwing away thousands of dollars in exchange for a little convenience grates on you, then read on.
God is in the details
The first step is to make your vehicle presentable. Clear out the trunk and interior of absolutely everything, then put back only the bare essentials: owner’s manual, map book and the Stompin’ Tom tapes.
Vacuum the interior to remove all the Tim Bits and loose change. Use vinegar to get salt out of the carpet. If the upholstery is stained, you may want to have the interior professionally cleaned (about $125).
A clean car is not only more appealing, it may rattle less (make sure the spare tire and jack are secure).
Check for broken trim pieces, a turn-off for potential buyers. Junkyards — oops, recycling centres — often have door panels, glove-box lids and other bits sitting on the shelf.
If not, study how the pieces come off your car before you go in the yard to pull the parts from a donor vehicle. Alternatively, you can buy new pieces at the dealer’s parts counter, but be prepared to pay through the nose.
Wash and wax the exterior. If it’s developed a little rust, it might be best to leave it undisturbed. Many buyers prefer a car that’s never experienced a body repair, rather than one that’s obviously had weekend fixes using cheap putty and a hair dryer.
Small dents can be pushed out from the inside. You may want to visit one of those “magic” bodywork outfits for that. Of course, that costs money, too.
Georgian College automotive marketing professor David Aves says dealers typically spend $800 to $1,200 to recondition a trade-in vehicle. It wouldn’t be a bad idea to budget even a fraction of that to make your car shine.
Drive squeaky Clean
It’s smart to put your car through the Drive Clean test prior to offering it for sale – assuming it’s been 12 months since its last test. Earning a pass demonstrates to the potential buyer that your engine is in reasonably good health.
If you suspect your old car may not pass the $35 test, you can help by changing the oil, spraying some throttle-body cleaner, and replacing the spark plugs and filters.
If it fails, the technician can give you an idea what needs to be replaced. The most common problems are bad oxygen sensors, catalytic converters and even thermostats (if it’s faulty, the engine never gets up to proper operating temperature for the test).
By the way, a conditional pass is not good enough to transfer ownership.
Certified or uncertified?
A safety inspection certifies that your vehicle has met the minimum safety standards set by the Ministry of Transportation and, like Drive Clean, you don’t have to provide one to the buyer – but it does make for a higher asking price.
Before you arrange an inspection at your local garage ($60-$80), you can do your own mini-inspection at home to address some simple items. Walk around the vehicle at dusk and check that all your light bulbs work. Safety-related accessories such as the wipers and defroster should function.
Tires are a common sticking point. If you have less than 1/8 of an inch of tread depth, you’ll need to replace them. You can save some dough by buying used tires, but make sure they’re mounted in matching pairs (on the same axle) so that ride and handling aren’t compromised.
If you drive an old clunker, meeting certification may be a case of diminishing returns for your money.
You may be looking at repairing all four brakes (including the cable-operated emergency brakes) and replacing some steering components (tie-rod ends, ball joints, etc.), which can easily top $1,000.
Don’t sell your car with the promise that you’ll certify it for the new buyer without knowing these costs. You may have budgeted $250 for a brake job, only to discover certification requires a much bigger investment.
Remember, there’s no shame in selling your vehicle “as is.”
Your papers, please
Want to increase the value of your vehicle? Make a file of all your repair bills over the years and present it to the prospective buyer. Nothing says “honest sale” like good record keeping.
Purchase the ministry’s Used Vehicle Information Package ($20) and have it on hand. The printout tells the prospective buyer whether there are any liens on the vehicle, how many people have owned the car since it was new, and its wholesale and retail values today.
Of course, when shoppers spy the wholesale price, it may suddenly become the bottom line. Bear in mind that’s for a car with average mileage (20,000 km annually) and wear and tear. You should be able to demonstrate why your asking price is higher.
Tell the world
If you’ve been happy with your vehicle, tell your friends and co-workers that you’re selling it. Word of mouth is the best way to sell anything and, chances are, if you’ve raved about your car for years, people will form a line at your door or cubicle.
If you work for a large organization, you may have a company intranet where items for sale can be posted. Resist sending out a broadcast e-mail to everybody in the office; that’s just annoying.
Newspaper advertising works well, but know your market. Don’t put your 1986 Toyota Tercel in a national newspaper – that’s a very different clientele. The Toronto Star maintains a large classified section for used wheels, a good number of which are private sales.
Inexpensive cars sell well in the Buy & Sell, a popular tabloid that offers free advertising to private sellers. Auto Trader magazine is effective because your vehicle is photographed – granted, it’s postage-stamp size, but a picture explains a lot.
Let’s make a deal
Time your ad for a weekend when you don’t have many activities planned. Be near your phone; prospective customers hate leaving messages (imagine calling Sears about a sale item and being told to leave a message).
Schedule your appointments 30 minutes apart for the same day – if they can’t come that day, tell them to call again – it may be sold by then.
Insist on riding in the car during the test drive – many a duplicate ignition key has been cut during that “drive around the block.”
If you enter into an agreement, insist on a cash deposit. If they can’t produce $200 or $400 on the spot, how can they be trusted for the full amount? Provide a receipt for the deposit and demand the balance in cash or certified cheque.
Don’t sign over your ownership until you have been paid in full. Be sure to remove your licence plates and all personal items from the vehicle.
Try not to weep openly as complete strangers drive away in your car.
Selling your auto is not entirely easy – it requires a commitment of time, cash and elbow grease – but the payoff is likely a few more thousand dollars in your pocket.
If that sounds like a significant amount of money to you – it does to a freelance writer – then get ready to join the exciting world of automotive marketing right in your driveway.
E-mail: toljagic@ca.inter.net
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