Avoid the Impulse – Buy and Sell Your Car Yourself

In real estate, an “arm’s length” transaction is defined as one in which “the seller is under no undue pressure to sell, Things To Do When You Buy A Used Car and the buyer is under no undue pressure to buy.” In the free market, this is how “fair” prices are arranged.
Imagine if you found out at 8 pm today that you absolutely have come up with $8000 by tomorrow morning at 10 am, and selling your car is the only way you can do it. Talk about pressure! Do you think you will get a fair price? Absolutely not!
Many people put themselves in a very similar situation when they decide to buy a new car. They swing by a dealership on impulse, fall in love with the little red convertible and make an offer on it two hours later. And in the process they become a seller under undue pressure… avoidable pressure that they put on themselves. This, my friend, is a crying shame.
The only way to get the most you can, when you sell your car, is to give yourself TIME, and a lot of it. As a former salesman, I have seen first hand, over and over, that impulse buying is a KILLER! The salesman knows you have no time to gather facts and find out what your car is really worth. He also knows that he has little to no incentive to give you a good deal on your new little toy. Double Whammy!
I do understand that we all get caught up in the moment at times, but please, before you sign anything, step back and evaluate the situation. Ask yourself, am I under pressure? If you are, go home and sleep on it. In my mind, if the salesman won’t respect that, he doesn’t deserve your business.
In almost every case, the dealer will be happy to take a deposit and hold the vehicle for you (Never give them cash for a deposit and be sure it’s refundable!) for up to a week, sometimes longer. Time enough to be sure you really love that car you’re looking at, and time enough to sell your car yourself for plenty more than what the dealer will give you.
Yes, they might say no and sell the car you want just after you walk out, but is it worth the average How Much Does Third Party Insurance Cover of roughly $2500 extra it will cost you? Go ahead and buy it right away, if you think that’s OK.
Yes, you can sell your own car, and reap the financial benefits, and it’s not nearly as hard as some folks think.

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