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Car selling advice

Starfox

Starfox

macrumors 6502
Original poster
Apr 7, 2011
256
9
I've always driven cheap, beater cars that I'd usually keep till they're falling apart then sell for cheap. Now for the first time in my life (YAY) I've been driving a nice car (2015 Tesla S) and am now interested in selling it. Does anybody have tips for a first-time car seller? Aside from Craigslist, what would be a good place to advertise such a thing? What "gotchas" should I watch out for? Any help would be appreciated.
 
What @D.T. said, and first order of business is to determine a reasonable value range for your car, and then your bottom price. If the car is in good shape, I’d start with an asking price in the upper third of the value range to allow for haggling.
 
Get a quote from CarMax before you go anywhere else.

And don't buy the dealership nonsense "you have to pay taxes when you sell your car". You don't. A sold car isn't income, it's a depreciating asset.
 
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Starfox said:
I've always driven cheap, beater cars that I'd usually keep till they're falling apart then sell for cheap. Now for the first time in my life (YAY) I've been driving a nice car (2015 Tesla S) and am now interested in selling it. Does anybody have tips for a first-time car seller? Aside from Craigslist, what would be a good place to advertise such a thing? What "gotchas" should I watch out for? Any help would be appreciated.
Click to expand...
My advice is give it a very thorough clean inside and out.
A polish and paintwork restore if required.
Make sure it's at it's best before you let anyone see it.
In the UK I'd use a car specific site called Autotrader, but I'm not sure if they a site where you are.
 
Thanks everyone! I posted about it in a Tesla-specific forum. I already polished the car and had the interior and exterior refurbished by Tesla prior to sale (pics: https://imgur.com/a/GIwdaHz ). The nearest CarMax is like 60 miles away so I'm not sure I want to make that round trip :$
 
They do indeed have buybacks, and I got a favorable quote on it given its condition, but I wanna put it out there for a while because even if I sell at up to 2K below market value that'll be a couple thousand more than what Tesla offered. If it doesn't sell in a little bit I'll just trade it in (I'm also upgrading to another Tesla).
 
Starfox said:
They do indeed have buybacks, and I got a favorable quote on it given its condition, but I wanna put it out there for a while because even if I sell at up to 2K below market value that'll be a couple thousand more than what Tesla offered. If it doesn't sell in a little bit I'll just trade it in (I'm also upgrading to another Tesla).
Click to expand...

Ahh, makes sense. We recently bought a new vehicle (see my The Car Thread ramblings ...), and did a lease this time, but sold the existing family ride to the dealer, independent from the lease deal (i..e, they cut us a check for the whole amount of the offer).
 
Tell me more about your experience selling to a dealer, how was the price compared to the market value?
 
there are several sites for car evaluations like Blue Book

go to several of these and compare their cost numbers with what you see on various car for sale sites

edmonds.com
 
Starfox said:
Tell me more about your experience selling to a dealer, how was the price compared to the market value?
Click to expand...

It was pretty terrific, I negotiated the lease (price, MF, RV, etc.) for the new ride independent from any existing vehicle purchase. Then asked them if they'd be interested in an outright purchase - we wound up swinging by the dealer on the way to Universal Studios, signed for the new car, moved over our luggage, left the old ride behind (got the check about a week later).

I'd say it was an extremely fair offer, and it was _zero_ hassle which is a huge factor for me :)
 
Starfox said:
How was the price they gave you compared to the KBB value?
Click to expand...

It exceeded the higher end of the KBB trade value, it was more inline with a low end private sale. I used the long form condition workflow (where you answer a few pages of specific questions) and even fudging the worse case on a few things, it was still considered good. It was a 4Runner, AWD/V8/LTD, so it has some additional perceived value, especially in this area.

Plus, ZERO hassle, no tire kickers, no time spent, I spent 20 minutes to shoot and email some photos, get a call back, "How about $", yes, sent me a doc to confirm the deal, done. :)
 
If you do a private sale on your car, what you get out of your old car, can be deducted from the sales tax of your new car.
 
If you are buying a new car, it may be worth trading it in as you will only have to pay sales tax on the price difference. If you sell it outright first, and then buy a new car, you will have to pay sales tax on the entire price of the new car.
 
cobracnvt said:
If you are buying a new car, it may be worth trading it in as you will only have to pay sales tax on the price difference. If you sell it outright first, and then buy a new car, you will have to pay sales tax on the entire price of the new car.
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You are wrong.
 
Worst comes to worst, might consider selling it via a donation: tax write-off might be beneficial. But guessing since a Tesla with low mileage, can probably get better deal selling independently. I keep my cars for years and have got close to Blue Book this way and get the tax break.

The Tesla boards are a good start. Might want to target parts of the country (assuming US) where they are popular (ie. CO and west from there, NV, CA, OR, WA).
 
old mac said:
You are wrong.
Click to expand...
I saw your post right after I submitted mine. I'm not a tax expert, I'm just saying what my experience has been with all of the car purchases I have made and I'd like to understand this better.

If it isn't in the same transaction, then how do you get the reduced sales tax?
 
cobracnvt said:
I saw your post right after I submitted mine. I'm not a tax expert, I'm just saying what my experience has been with all of the car purchases I have made and I'd like to understand this better.

If it isn't in the same transaction, then how do you get the reduced sales tax?
Click to expand...
Just take proof of the sale to your DMV. Many states have a section on the bottom of the title that is filled out, then tore off and is kept by the seller.
 
old mac said:
Just take proof of the sale to your DMV. Many states have a section on the bottom of the title that is filled out, then tore off and is kept by the seller.
Click to expand...
I don't think it works that way in Massachusetts, but I'm definitely going to look into this the next time I'm getting a new car.
 
I'm not a tax expert either. This is the way it is in the few states I'm familiar with. IA, TN, Ms, and Mo. States collect a lot of extra revenue by keeping people in the dark.
 
I live in California, how do I find out whether this trade-in tax thing applies to me or not?
 
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