15 Common (And Costly) Mistakes People Make When Selling a Car

If you plan to sell your car, beware: There are some common and costly mistakes that could result in you leaving money on the table. 

Avoiding the following errors can help boost your bank account and keep you out of other types of trouble when you sell your vehicle.

Familiarize yourself with your car before selling it.

It’s a good idea to anticipate buyers’ possible questions. So, make sure you know things about your car, such as the engine type, the number of miles on the vehicle, and the type of safety features it has.

Be sure you also have records of any accidents or major repairs the car has had, including those that happened under previous owners

Good curb appeal is important when you sell a home, and you can use a similar philosophy when you sell a car.

Ensure your car is clean before posting pictures online or sending images to prospective buyers. Wash the car and clean the exterior. Wipe down the interior as well.

You also might want to consider paying for a detailing service to get your car ready to sell.

When advertising the car, include as much information as possible to make it appealing to potential buyers.

Include a detailed description of the vehicle and essential information that a potential buyer might want, such as the number of miles on the car and maintenance and repair information.

A great way to sell a car is to post pictures online to give potential buyers a good idea of its condition.

Photos show buyers what the car looks like and should reveal scratches, dents, or other problems that might be a factor in whether they make a purchase.

Make sure you know the market value of your vehicle. Listing a car for too little will leave cash on the table. Listing it too high could prevent you from finding a buyer.

Check websites to compare your car's value to similar vehicles. A website like Kelley Blue Book is a great place to find the market value of your vehicle.

You might decide it's easier to trade your car in with a dealer and use that credit when purchasing a new vehicle.

If so, make sure you know how much your car is worth before you agree to a trade-in value. It’s a good idea to go to Kelley Blue Book and consider that price when negotiating the trade-in.

You may feel attached to a car that got you through a long cross-country move, or that was well-loved by your kids. Perhaps there's some sentimental value attached to it.

Don’t let these emotional attachments affect the sale of your car. Focus on the selling points that will get it out of your garage and into the hands of another driver.

It’s also important not to let emotional pleas from buyers sway you during the sale process.

Remember that this is a business transaction: You don’t have to leave extra cash on the table simply because a buyer has made an emotional request to lower the price.

Some sellers might think making costly repairs is vital so their car is more appealing. But those expensive repairs could cost you more than you can make back during the sale of the vehicle.

Instead, be upfront with potential buyers about possible repairs and ensure your vehicle's sale price reflects the out-of-pocket expenses another owner will have to take on.

Potential buyers might request more information about the vehicle or want to take a second look at the car.

If so, it’s important to respond promptly to these requests. If you delay, you might risk losing a potential buyer.

States may have rules and regulations related to the paperwork that has to be filed when you sell a car.

Check with your state’s motor vehicle department to ensure you have everything you need to start the sale process. That way, you avoid trouble right from the start.

Buyers will want to ensure you’ve cared for the car while you owned it. So, have records that reflect the car’s routine maintenance or service repairs history.

If you can’t find those records, don’t make the same mistake again in the future. When you buy a new car, hold on to records throughout your time as an owner to make it easier the next time you’re ready to sell.

Selling a car means a buyer needs to trust you, and vice-versa.

If something doesn’t feel right or you spot actual dishonesty, it’s OK to back out of a sale or ask for more information from the potential buyer to ease your concerns.

Be careful about where you meet a potential buyer. Focus on public and well-lit places, and try to meet during daytime hours.

If you're unsure, check with your local police department to see if they have designated safe spaces to meet.

Newer car models let you store data such as your navigation history or garage door code. But that convenience can become a problem when you sell the car.

Check your owner’s manual to find out how to clear any personal data. You don’t want to open yourself to theft or other issues later.

Just as it’s essential to do your research before making a large purchase, it’s also important to know how to sell an expensive item.

Avoiding the mistakes on this list can help you get the most money for your car. That way, you can get ahead financially and pile up more cash to purchase a new vehicle.