Where & How to Sell Your Ride

Looking to sell your car? Whether you aren’t satisfied with the trade-in value at the dealership, or you need the cash before you can shop for a new ride, it can be a long and frustrating process. To alleviate some of the stress, I thought I’d give you some tips on how and where to get started!

Things to Consider, Research & Do First

One of the first things to consider is the time of year/season that could affect the sale of your vehicle. For example- you may have a sporty convertible in excellent condition, but the chances of it selling for a competitive price during the snowy winter months in the Midwest are pretty slim. (Naturally, use your common sense!)

Check out Edmund's True Market Value pricing.

The next step is to decide on a selling price for your vehicle. Survey online and newspaper classified ads for the same or similar vehicles, making sure to note the mileage, trim level and condition of the vehicle. You can also check other internet sites like, Autotrader.com and Cars.com to see what your car is selling for in your area, and how many are in the market. The more like-vehicles listed, the more competitive you’ll have to be with your pricing. I’d also recommend checking out Edmund’s True Market Value pricing system. The system adjusts depending on key factors such as color, mileage, and specs to give you fair value for the vehicle. And keep in mind that if you’re contemplating a fair number, you can always lower the price at a later date, so be sure that you’re comfortable with what you choose.

Remember the importance of "first impressions!"

Remember the importance of “first impressions.” If someone doesn’t like what they see right off the bat, well you can almost guarantee that they’re not going to take a second glance. That being said, take the time to wash the outside, clean out the inside, and if needed, detail your vehicle. If it needs a few low-cost repairs or maintenance like fixing a dent or two, getting an oil change, or buffing out a scratch, then consider doing it yourself. Spending a few extra dollars may save you the headache, and shorten the sales process. Another good idea would be to get a CarFax or Experian’s AutoCheck vehicle history report, to show potential buyers that odometer reading is correct and justify the condition of the vehicle.

How & Where to Advertise… from online & traditional newspaper classifieds to putting up a sign in your car

So now where do you advertise? Nowadays there are so many options out there- from the traditional newspaper classifieds, to online listings, to just sticking a “for sale” sign in your car window. If you don’t mind cruising around with a sign in the window, then start there. It’s cost-effective, takes virtually no time to do, and you could potentially sell the car locally, especially if you maintain a shorter radius on your daily commute.

Over 80% of the population uses the internet at some point during the car buying process, whether it’s research on a particular make/model, pricing information, or to search out a particular new or used vehicle. By utilizing online classifieds, you can reach a wider audience than you can by simply relying on your local newspaper listings or the sign-in-the-window method. Some of the top online vehicle classifieds include AutoTrader.com and Cars.com, and most of your local newspapers use one of these two services within their vehicle classifieds section. Craisglist.org is also becoming more frequently used, typically for local shoppers. You can also place a traditional ad in the local paper, but remember that most people refer to the internet, even when they’re checking out the local paper.

The key to online ads is creative writing (which I’ll go into more detail about in my next blog post.) Think of ways to make your ad stand out from the rest, but make sure to include key facts like the mileage, price, color, condition, year, make, model and trim level. It’s also good when noting the price, to describe it as the “asking price” or give a price, followed by “OBO” (or best offer.) This informs people that you’re willing to negotiate which tends to attract more potential buyers.

Be prepared to answer your phone if someone calls to inquire about your vehicle for sale.

Keep in mind that people are busy and most often would rather speak to someone right off the bat to determine if the vehicle is worth looking at. For those who don’t want to list your phone number, you can include your email, but chances are you’ll get a greater response from potential buyers if they can call you. And if you do list your number, be prepared to answer your phone!

And finally…don’t forget to spread the word! Let your friends, co-workers, and family know that you’re selling your vehicle. People always prefer to buy from someone they know, so a personal referral is a much more promising potential sale.

Something New: A Speedy & Effortless Alternative

Don’t have the time to go through all the steps, or want to avoid the phone calls and people coming to see the vehicle? Do you just want to sell the car fast and be done with it? From time to time here at CarsDiva, we check out new automotive industry services for consumers and we think we found an interesting alternative for private sellers. Check out Copart Direct. They take care of the whole process for you, from start to finish!

A speedy and effortless alternative

At Copart Direct, you call them up and work with their representative to determine a fair value and the number to expect for your vehicle. You then drop off your car for sale at one of their nationwide facilities where they inspect and photograph the car. Copart Direct uses an online technology process where your car is exposed to over 100,000 registered buyers worldwide (typically wholesalers and dealers.) After the online virtual auction, the representative will contact you to give you the low-down on the number of bids, where they came from, and the amount of the highest bid. You then decide if you want to accept the bid, and after you do, you pick up your check! That’s it- easy and hassle-free. They take care of all the paperwork, transport, etc… One thing to keep in mind is that it is an online auction, so you may take a bit of a hit on the price. However, if you want to avoid the sales process and save time, then it’s a great alternative to selling the vehicle on your own.

Got more questions? I’ve got answers! Feel free to drop me a line at CarsDiva.com and I’d be more than happy to help you out in any way I can!

Up Next

…Tips for creative online ads and finalizing the sales process!

Memorial Day 2008: “A Virgin Experience”

I bet you’re wondering what this one’s about, right? Well, it’s probably not what you think, but quite exciting nonetheless…

My day began at 7am as I ventured to the Autobahn Country Club, in Joliet, IL, founded by “car guy” Mark Basso, and home of the 2nd largest racing venue in the United States (hence no golf carts present.) I was invited to test my skills on the race track by my dear friend, Freda Mooncotch, Founder of Alphawomen.com. A track enthusiast herself, she joined the Laps, Inc. organization, which was created by and for track aficionados and enthusiasts, for those who need to satisfy their “need for speed,” as well as for those individuals interested in improving their skills behind the wheel. Shawn Young, Founder of Laps, Inc, gave me the inside scoop on the organization, and introduced me to many of the other members and instructors, who were passionate about the track and enthusiastic to help out the newcomers like me.

I was lucky enough to be partnered with Jeff Henderson, professional race car driver, and Chief Instructor of NASA (National Auto Sport Association) in the Midwest region, as my personal instructor for the day. One of the first things that Jeff told me was that racing is the “best thing you can do with your clothes on,” and, as a former virgin to the track, I can attest to that!

On the track… WOW what a thrill!

I now have a whole new appreciation of racing- or I should say “being on the track” to be politically correct. It’s much more challenging than I expected, and such a great time. I think the best part of being on the track was the adrenaline rush as my speed was climbing, taking the curves at just the right angle to stay on the track and yet not lose momentum as I came out and reaccelerated, all the while knowing that at such a high speed I could slip and easily end up off the track. (And for those of you that need to relieve some stress, here’s a great place to do it). Woo-Hoo! Each time I hit the track I found myself wanting to go faster and push harder, as the anticipation and thrill of finding out just what my car could do overwhelmed me.

As to my expectations for the day, well I thought I’d have a good time as this was a whole new experience for me, but ultimately the experience exceeded even my best expectations- I had a blast! Being on the track behind the wheel of my Mazda RX-8 gave me a greater understanding of the power and capacity of the car, as well as a surge of confidence and empowerment.

A Leap of Faith

I also had the opportunity to ride as a passenger, taking a leap of faith with my instructor, professional racer, Jeff Henderson, as we hit the track in his Mustang and then in a Corvette Z06. I learned a lot from watching him drive, and really got to experience what it was like to push a car to its limits! (As a novice I wasn’t quite ready to do that myself.) However, there’s something ridiculously exciting about being behind the wheel that I find difficult to fully explain, but I can tell you that I can’t wait to do again… and next time push myself and my car to the next level. And yes, I plan to “reignite” that feeling very very soon!

In addition to driving techniques, I also learned some interesting things throughout the day. Did you know that your car insurance lowers if you take an HPDE (High Performance Drivers Education) class?! Sounds counterintuitive, no? Well it’s true because by learning the techniques involved with racing, you really learn how to better control your vehicle, thus making you a “smart” driver.

And in Conclusion…

It’s all fun and games, even after someone “hits the wall” with a hot red Corvette, garnering about $15k in damage (and no it wasn’t me.) However, after Jeff and I exhausted his Mustang, we moved on to a Corvette and we did spin off the track once… (I told you I had a blast!)

Thankfully I left with my Mazda RX-8 in one piece…and in the same condition I arrived. (Well, other than the empty gas tank, no oil, and a load of dirt on the once sparkling rims- proof I was there …) Nevertheless, I have to admit…being on the track is like a drug, and I’m addicted!

Move over Danica, the CarsDiva is ready to roll! 

What were they thinking???

Everyone remembers cars like the Ford Thunderbird, Pontiac TransAm, and Cadillac Eldorado. However the auto industry’s also had their share of flops through the times.  These are the vehicles that you look back at, raise your eyebrow, and wonder, what in the heck were they thinking? ….or perhaps just laugh…

Some of these of vehicles include:

1. The Dodge La Femme
2. The Edsel
3. The Subaru BRAT
4. The Suzuki X-90 

Edsel

The Edsel division of Ford was introduced as an experimental project, in order to compete with superior number of dealerships of General Motors and Chrysler. Produced in the ‘50’s and known as one of the most spectacular failures in auto history, Ford lost $350 million on this venture.

Subaru BRAT

The Subaru BRAT (Bi-drive Recreational All-terrain Transporter), introduced in the 1970’s, was best-known for its welded-in, jump seats in the cargo bed.  And these were for what??? Well during this period of time, a 25% import tariff was charged to trucks imported to the U.S., while passenger cars were only taxed 2.5%.  The seats were meant to designate the vehicle as a passenger car and avoid the higher tariff.

Suzuki X-90

Initially a concept car that was well-received by the public, the actual production Suzuki-X-90 was a total flop, selling very poorly.  Produced in the ‘90’s, this vehicle was meant to be a small SUV, however it had only 2 seats and a removable roof, and was not equipped with off-road capability, nor a smooth “on-road“ ride.

 

Dodge La Femme

Alright ladies, as the CarsDiva, my “favorite“ of these automotive blunders is the ultimate girly car. The Dodge La Femme, which was launched in the ‘50’s was one of Chrysler Corporation’s first attempts to create a car just for you.   Al Haas, the “On the Road“ columnist for the Philadelphia Inquirer, referred to it as a “Royal Lancer on estrogen.“  The exterior was sapphire white and heather rose, with gold scripted “La Femme“ on the fenders, and the interior featured pink rosebud tapestry fabric.  To add to this ridiculous concoction, the purchase of the vehicle included the matching accoutrements…. rosebud raincoats, rain bonnets, umbrellas and purses.  (Can’t you just see yourself skipping down the street with your “rosebud“ ensemble?)

In any case, a total of 2,500 Dodge La Femmes were sold in the two years that the vehicle was offered. So what do you think ladies?  Would you buy this car (or a modern replica) if it was back on the market?  (There’s actually a website for ’55 &’56 La Femme enthusiasts or those searching to find one to buy.)

Let me know what you think…

Rental Cars: Are they worth purchasing???

Should you buy a rental car???  Of course, the popular answer (or perhaps unanimous), would be an immediate “no.”  They have the reputation of being driven to the ground, beaten up, abused, and banged around, and overall, treated poorly.  However, I was reading an article on MSN Autos, (entitled nonetheless, Should You Buy a Rental Car), and coupled with my own experience in the car biz, this is a stereotypical misconception for many of these vehicles. (I’m not being naïve here, and yes, I have rented cars many times in the past.) 

Maintained and Less $$$$ 

Rental cars go through regular servicing and maintenance updates and typically go through a rigorous inspection from a third-party inspection company before being put up for sale.  After all, (most) rental car companies don’t want to want to deal with the hassle of an unhappy customer, or be given a bad rep in the auto industry.  They also include the remaining balance of the manufacturer’s warranty, usually have low miles, and are most often sold for thousands of dollars less than their counterparts at a dealership.  This is not because the vehicles aren’t “as good,” but if the rental car companies sell them directly to the consumers, the extra few thousand dollars are saved, which car dealers have to tack on to cover their overhead.  Also, vehicles classified as “rental cars” are often valued less than other used cars. 

Where Do I Buy a Rental Car? 

More and more national car rental licensees and independents are selling their off-rental vehicles direct to the public, due to the decrease in “guaranteed buy back” from the manufacturers.  (Manufacturers once upon a time used to buy back most, if not all, of the vehicles they provided to the rental car companies.)  Enterprise and Thrifty have always offered selected vehicles to the public, but now many others are doing so as well.  My good friends at Arelco (National Car Rental) in Indianapolis, Fox Car Rental in Los Angeles, Ace Rent a Car in Chicago and Midway Car Rental in Los Angeles are selling some of their cars retail, just to name a few….  And if you think buying a rental car means you’ll be stuck with a run-of-the-mill Ford Taurus, or Chevy Impala, you’re wrong.  There are many rental car companies that offer a wide-range of vehicles (think Luxury category), including BMW’s, Mercedes, and yes, even Ferraris! 

You heard it first 

You can hear about some of the positive experiences first-hand, from individuals who have purchased rental cars.  Kristin Reeves, who purchased a 2007 Ford Explorer with only 5,000 miles, said that it’s “fantastic,” and confidently states “I haven’t had any problems whatsoever.” One of the producers for Car and Driver Radio, Michael Jones, bought a 2004 Cadillac Deville and paid $22,500 for it.  He claims that at a nearby dealership the same car was selling for $31,000.  

Smart Shopping 

However, as with buying any used car, here are some precautionary tips to take before making your purchase:

1. 1.  Obtain a vehicle history report through CarFax
2. 2.  Take the vehicle to a trusted mechanic, and have them     thoroughly inspect the car, including the underbody
3. 3.   If possible, take the car for a test drive first

So I leave it to you to decide if you should consider purchasing a rental car.  You have the facts- now you decide what to do.  But of course, with any (used) vehicle purchase, I highly recommend you follow the advice above—you’ll drive away with a lot more confidence!

Tips to Save Gas…and save your extra dollars!!!

I came across some very useful advice today on theDailyGreen.com and thought I’d share with all of you. Given the ridiculous gas prices, everyone’s looking for a way to save a couple of cents, so I found this rather fitting. According to the Consumer Federation of America, if you follow these guidelines, you’ll save at least 20% on fuel costs. Along with each tip, I’ve included the amount you’re estimated to save according the CFA’s studies:

 1. Keep it CLEAN

Did you know that you can increase your gas mileage 10% if you have a clean air filter? AND almost 25% of all cars need a new one!

Savings: $0.28 a gallon

2. Straighten out

You all know that if your tires are poorly aligned, they’ll wear out faster (especially on rear-wheel drive cars). However, they also force your engine to work harder, using up more gas.

Savings: $0.28 a gallon

3. Tune Up your engine

Don’t ignore the “Check your engine” light. One- you’ll most likely save on gas, and two- you could prevent more costly damages.

Savings: $0.11 a gallon

4. Keep them filled

Over 25% of vehicles have somewhat deflated tires, which also results in fuel deficiency.  Soo…pump ‘em up!

Savings: $0.08 a gallon.  

5. Screw it or replace it

If your gas cap is loose, broken, or missing, two things can result: 1- your gas mileage can decrease, and 2- for those of you “green” fanatics, you could be harming the environment.

Savings: $0.02 a gallon

6. Gimme a break

Slow down….did you know you can decrease increase fuel efficiency 7% if for every 5mph you slow down on the highway? (I’m gonna be perfectly honest…this is a tough one for me!)

Savings:  $0.19 a gallon, (reducing speed from 70 mph to 65 mph)

7. Smooth ridin’

Don’t slam on the breaks or floor the gas pedal (if you don’t have to). You could save up to 33% of your gas!

Savings: $0.48 a gallon.

8. Get off it

One of my biggest pet peeves…. Don’t ride with your foot on the break! Not only do you wear out your breaks, but this is the number #1 way to waste your gas.

Savings: $0.96 per gallon

9. Lose some weight

Stick to your New Year’s resolution and lose those extra pounds! (just kidding) But seriously, get rid of the extra poundage in your car and yes, you’ll increase your fuel efficiency by 1-2% for every 100lbs you drop.

Savings: $0.04 a gallon, (based on 100lbs removed)

10. Stop putzing

Keeping your car running idle causes pollution and wastes gas. (So in other words, you really don’t need to warm up your car for an hour if it’s cold out…just throw on an extra jacket and you’ll save $$$)

Savings: $0.01 a gallon, (for every 2 min you keep it running idle)

What’s Going on in Spring Hill, TN??? So that’s how cars are made….

Last Monday, March 9, I had the opportunity to be hosted (yet again) by General Motors in Spring Hill, TN, where I took my very first ever tour of a manufacturing plant. The tour of the plant (which is currently preparing for the production of the 2009 Chevrolet Traverse) was interesting and definitely informative…(which you will see from the video clips that will be up on CarsDiva soon.)

Before we took the actual tour, we sat through a short presentation, where I got to see and listen to Ed Pepper, Chevrolet General Manager, and Don Butler, Executive Director- Chevrolet Truck Marketing. The enthusiasm and pride of GM was very evident and motivating, and justified by the great products that keep rolling into the market (thanks to the legendary Bob Lutz!)

Here are some interesting facts about the Spring Hill manufacturing site and Chevrolet as a precursor to the videos:

SPRING HILL MANUFACTURING FACILITY

1. Spring Hill, TN is located 40 miles south of Nashville
2. Opened in 1990; shipped over 3.752 million vehicles to date
3. Home of SATURN, and now in preparation to launch the 2009 Chevrolet Traverse
4. 6.86 million square feet
5. 3,981 employees

Other Interesting (Chevrolet) Facts I learned on the trip:

1. Chevrolet was founded on November 3, 1911
2. Chevrolet is named after racing driver, Louis-Joseph Chevrolet (who together with William C. Durant, co-founded the brand)
3. 700 songs in history have used “Chevy” in the lyrics
4. Every 7.2 seconds a Chevrolet vehicle is sold worldwide

 

Stay tuned to get an inside preview of the Spring Hill plant!!!  

From Faux Bags…to Faux Ferraris???

You’ve all heard of purse parties, where you can purchase designer hand bags at a fraction of the “designer” price tag. Granted you take the risk of the bag falling apart within a couple of weeks, but what the hec, the investment was minimal and the styles continually change from season to season.  You pay for what you get, right? But have you heard about the latest faux item? FERRARIS! Yes, that’s right—there was an article in the Wall Street Journal on February 28th, entitled “Italian Tax Police Bust Up Fake-Ferrari Ring,” that talks about how the Italian police “busted up a ring of auto-body shops across the country that were trafficking in one of the most high-end and high-priced counterfeit cars of all time.” Can you believe it? I mean bags are one thing- although a hot ticket item, they don’t equate to the price tag of a Ferrari. And I don’t know about the rest of you, but there are some things you just can’t duplicate. If I can’t have the real thing, then I don’t want some inadequate replication…. especially if involves a moving vehicle.

Not only were these “faux” Ferraris being constructed (think the interior of a used Pontiac Fiero), but people actually paid about 20,000 euros ($30,000) to purchase them! Well… some of them did, others just paid the price and never received the “package.”

According to the tax police no arrests have been made yet, although eight people are under investigation. Seven “completed” fake Ferraris were found, seven were in the process of being built, and several had already been sold. Guido Mario Geremia, head of the Palermo unit of the tax police, was quoted saying that “this was sophisticated operation that was running throughout Italy.”

Even more absurd was Geremia’s comment comparing the operation to other counterfeit scandals. He said that “there are people who buy fake Louis Vuitton and Gucci bags, so it’s not so strange that someone would buy a fake Ferrari.” I mean come on now, seriously? We’re talking about a price difference of several hundred thousand dollars! Ferrari only makes around 6,000 vehicles a year, there’s a 2-year+ waiting list, and most of the cars start at $200,000 and the price goes up from there.

Geez! Would you guys (or gals) pay the price for a fake Ferrari???

You know how I feel, but I’d be curious to hear yours thoughts…

A Tribute to a Fast & Race-y Lady…

Tis’ the time to pay tribute to the ladies, as March is Women’s History Month.  Often unrecognized, there are major milestones achieved by American women who have made history, (12 of which broke ground as the “first female” in their achievements.)

One of these remarkable females is Janet Guthrie, who in 1977 was the first woman to compete in the Indianapolis 500 and the Daytona 500.  She was honored by the International Motorsports Hall of Fame and inducted in 2006, as well as the Women’s Sports Hall of Fame in 1980.

      CHEERS TO YOU Ms. Guthrie!

Women of Power 2008

One of the reasons I like the car business so much is because of the interesting characters, diverse personalities and genuinely nice people that are in it.  One such person is Dr. Harold Elam (a recent CarsDiva member), who, in his most recent Automotive Insider newsletter, wrote about a few of the outstanding women car dealers and professionals in the business, entitled, Women of Power for 2008.

Dr. Elam is the founder and managing partner of We are BDC, an automotive business development firm, “dedicated to the advancement of virtual activity and how business is being done over the Web for local car dealers,” and I’ve reprinted sections of his online publication with his permission.

The very first woman highlighted, is the “Living Legend,” Mrs. Irma Elder, who has blazed the trail of achievement for many women in the car business today.  Timely enough, I had the privilege of seeing Mrs. Elder at the Jaguar/Land Rover reception this year at the 2008 NADA convention, and I can tell you first hand that she has a power, style and grace that truly does make a living legend. (And its clear I wasn’t the only one there that thought so, as she had a crowd around her all night long!).

So, with approbation to Dr. Elam, I’ve reprinted below his publication entry on Mrs. Elder, in its entirety.  Other excerpts from his Women of Power 2008 publication will follow….

  

Living Legend… A True Women Of Power

Mrs. Irma Elder is not New to Automotive Insider (A.I.) nor to our readers, but every time we compose an article where dealers have made a difference or maintain a true level of success…….Mrs. Elder’s name has always come up.  I want yo give you an idea of what happens when we select (A.I.’s) top women.  We sit around a table with our lab tops..together we search The Internet, read past issues of Automotive News and seek out women who have earned our respect on a personal level…..we then record their names and debate among ourselves why our choice should be on The Women Of Power List….Mrs. Elder was selected by ALL OF US here at (A.I.). Irma Elder is truly a multi-cultural success story for us here at (A.I.)…She was born in Xicotencalt, Mexico…and when she moved to Florida as a teen…she only spoke a few words of english.Mrs Elder was married in 1963 to the late James Elder, the founder of The Elder Dynasty.  Along with her children, friends and dedicated employees…Mrs. Elder became a trailblazer after the sudden death of her husband in 1983.  Today, the Elder Automotive Group has grown to encompass not only Elder Ford….but also luxury lines that stretch from Troy, Michigan to Tampa, Florida…….Two Thums Up!!   Mrs. Elder, You Go Girl!!! We Love You Visit Her Site Related Articles

GM Makes History…

Automotive Fleet announced on February 18th, that their 2008 Car and Truck of the year were both General Motors vehicles.  Both the Chevy Impala (3rd year in a row), and the Chevy Silverado beat out all other cars and trucks to conquer the number one spot.  GM has made history as the first auto maker to win both awards in the same year.       

Will the upward trend continue for the domestic auto giant?  Stay tuned and the CarsDiva will keep you informed….  In any case, congrats to you GM!