Monday, November 9, 2015

On selling used cars . . . .

In some areas, it's still the good old print classifieds (newspaper, Thrifty Nickel) where most vehicles, boats and RVs are sold. If you have a mechanic who's serviced the car, let him know that you're selling it, and mention it at church, work, etc. Word of mouth can be very helpful. We're still not quite to the point where everything is done online.

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Get it thoroughly detailed inside and out, call a used car lot for their resource ($65 here, done same day in two hours) or do it yourself.

Be certain all four tires match and show equal wear or bite the bullet and buy budget replacements, $200 tops.

Get an oil change and provide a receipt.

Take a couple dozen pics after the detail to supplement your Craigslist ad.

Pump up the service history but only if you're the original owner or have files. Mention if it was garaged. Include a free AAA membership ($68) and state the benefits in the ad.

Start your price more toward the high end relative to competition including other makes and lower the price in $50 increments every few days depending on response rate.

Request that the potential buyer agree on a firm, fixed price subject to their inspection and approval of the car before meeting. That weeds out tire kickers and will save you time and aggravation.

Don't hold out for too long, the new models are coming out now and those will automatically reduce older year book values.

On the bill of sale, always state the vehicle is sold AS IS.

In my town, they're plentiful, good luck!

http://portland.craigslist.org/search/cta?query=chrysler+300m


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Cashier's checks and money orders are not necessarily reliable - can be forged. My understanding is that the safest transfer of funds is to meet at the buyer's bank and have them make out a bank check to you or meet at your bank and deposit the buyer's cash into your account.

M
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What Marcia says is the only way I do it. I meet the buyer at the bank, have him write a check and I verify the check with the bank and either deposit it or cash it (if small amount) before I leave the bank.

B.

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If you don't bank at the same bank that he does... couldn't he empty his account as soon as you leave to take the check to your bank?

Wouldn't it be better to get a cashier's check-- or am I misunderstanding?

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A.

If he banks at a different bank, and if the amount is more than I want to receive in cash, we go to his bank and have the money wired to my account at my bank.

I would only accept a cashier's check if I'm at the bank and see them create it since cashier's checks can be forged.

B.