Used cars are easier to sell today than previously. There are the same options that have always existed, along with some more completely online options. These allow you to sell your car without leaving your home.
Traditional Sale Methods
The same traditional methods for selling your car exist today, like:
- Placing an ad and showing the vehicle to interested buyers
- Trading in the vehicle to a dealer
- Selling the car to a wholesaler like Carmax
In addition to these traditional methods there are now several companies operating online.
How Online Car Buying Works
So how does selling your car without leaving your house work? In many ways it has a lot in common with a completely online title loan.
In fact, we recommend the same preparation steps for either selling your car or getting an online title loan without the car. These preparation steps include:
- Get an approximate value of your vehicle.
- Take clear and accurate pictures
- Gather the required documents
- Research the company you are going to do business with.
Online Car Buying Process Steps
The process for selling your car completely online begins with contacting a company that buys vehicles this way. There are several, you can even get quotes from multiple companies.
Each has their own specific process, but essentially you provide the company with the information they need to provide you with a fair offer. Over process steps include the following:
Step 1 – Contact Buying Services
After researching which companies purchase vehicles you should have a shortlist of a few that have good reputations.
This is the same research you would do for finding any type of business, including the best title loan companies. Use the same preparation techniques t find the best car buying services. This includes companies like Carvana.
2. Step 2 – Provide the Required Documents
In order to provide you with an accurate offer, the buyer will need to perform what we refer to as a virtual appraisal. This is the same type of appraisal the lender does for a completely online title loan.
Instead of inspecting the car in person vehicle pictures and a history report are used.
3. Step 3 – Have the Vehicle Picked up
The company will send a truck to pick up the vehicle. There is usually a brief examination of the car to make sure you accurately represented the condition. Once complete, the drivers provides a check.
Other payment methods also include direct deposit once the title is provided. Either way, the vehicle is sold and you receive the funds.
There are other options to selling your car if you need cash and have a vehicle with value. One is getting a car title loan. This allows you to borrow money without selling the car. If you need to keep driving this may be a better option than selling the car outright. If you change you mind you can always sell the car at some later point.