How I Saved $2,500 Selling My Car

Last year, my wife and I moved to Los Angeles from Tucson. As part of the move and the process of downsizing our possessions and our lifestyle, we sold our car. The 2006 Toyota Corolla got us $14,500, which was about $2,500 more than we would have gotten had we not prepared ourselves and the vehicle to get the maximum possible price.

To test the market, before doing anything, we took the car to our local Toyota dealer, where we had bought the car new. They are (relatively) honest, and we do trust them. They looked at the car as is and offered us $10,000. Our next stop was to visit a local CarMax dealership, and they offered us $12,000.

After doing a few basic things to the car, we eventually sold it to a neighbor for $14,500. Here's what we did to our used car to help us make an extra $2,500 on the sale:

Research

Before doing anything, we checked out the value of our car. We went to Kelly Blue Book to get the values - both the trade-in value and the retail value. We also checked eBay listings to get pricing. We didn't check the current listings; we checked the completed listings, which show what the cars are actually selling for, not what people want to get for them.

Clean and Detail

To get top retail value, we needed to present a vehicle as clean and shiny as one sitting on a dealer's used car lot. We paid several hundred dollars for a full detail, inside and out. We also had them use clay for the paint finish, which helps restore it to showroom quality, and we had the engine and undercarriage steam-cleaned.

Service Engine

Another key to presenting a retail-ready used car is servicing the engine and making sure all the services are up-to-date. We made sure the car was tuned up with no service issues and ready for a new owner to get in and drive.

List Everywhere

To ensure we got the maximum price, we had our son take many high-quality pictures, and we made sure to list the car for sale in as many places as possible. We put a sign in the window, and then we also listed the car on Craigslist. EBay is another great selling tool, as they allow sellers to list cars for free and only charge a $50 fee if it sells.

By spending about $500 and following these simple tips, we were able to quickly find a buyer for the car at the price we wanted. We got a good price, and the buyer got a great car, so everyone wins.

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