Get the most money when you sell your car
Consumer Reports shares some steps sellers can take to get the most money for their cars.
Whether you're trading it in or selling it yourself, with a used car, timing is everything.
"The sweet spot for getting the most for your used vehicle is at the 3-year-old mark -- because dealers can resell it under a certified pre-owned program," said Jon Linkov, an auto editor with Consumer Reports.
When the car is between 5 and 7 years old, there's still value because repair costs are usually still reasonable, according to Consumer Reports.
It can be difficult to determine a car's true value, but Consumer Reports' market value calculator can help. You can also take your car to a Carmax store for a free assessment.
Experts recommend doing some online research as well -- but be honest about your car's condition.
Once you have a number, Consumer Reports recommends taking your car to a few local dealers to find the best price you can get. You can also solicit offers through websites such as Autotrader.com, Cars.com and TrueCar.
"But keep in mind, if you sell your car to the dealer, you're likely going to take a financial hit," Linkov said. "On the other hand, you can sell the car yourself and make more money, but that's going to require more time and effort on your part."
Remember, a clean car goes a long way, whether you decide to sell privately or through a dealer. Since a professional detail can cost as much as $250, consider washing and vacuuming the car yourself.
