TAMPA, Fla. (WFLA)—As the pandemic continues sweeping the nation, the demand for used cars is skyrocketing.
Many people are avoiding mass transit and car sharing apps. If you’re lucky enough to be working from home and no longer need a car, now is a good time to sell your car. But how do you do it? Consumer Reports reveals the tricks of the trade to help you get the most bang for your buck.
Since the pandemic, you may be finding your car sitting around collecting dust. Is now a good time to make money selling your car? Consumer Reports says your timing actually couldn’t be better as the used-car market has become red hot.
“With the pandemic, dealers are having trouble getting enough used cars in to sell. Even the least desirable used cars are now selling quickly, and for prices higher than they would have seven or eight months ago,” says Consumer Reports’ Keith Barry.
For the quickest and easiest sale, your best bet is to sell your car to a dealership or large dealer chain, like CarMax. You’ll need to do some homework before you shop it around. First step, find out your car’s value.
“I would look at some services like TrueCar, Kelley Blue Book, and see how much cars like mine are selling for. And that gives you at least a starting point,” says Barry.
Next, take your car around to two or three different places that purchase used cars and get a written offer. Having that written offer on hand will help you in negotiations with other potential buyers. You can also sell a car privately by listing it on a site like Facebook Marketplace or Craigslist. And while you might get a better deal, during a pandemic, this comes with extra challenges.
“That is a little tricky during a pandemic because you’re not going to get more than 6 feet away from someone on a test drive of a car,” says Barry.
And finally, giving your car a thorough cleaning before showing it to a potential buyer can translate into a quicker sale and possibly more dollars in your pocket.
Consumer Reports also says to consider online services like Carvana. They can offer to pick up your car and pay you on the spot right from your home, which is perfect for selling a car while social distancing.