So your trusty old car is on the verge of clunker status, and you’re thinking it might be time to get rid of it. Are you better off keeping it or selling it? If you decide to sell, do you need to fix everything that’s wrong with it before you do? These are questions every car owner has to face. Here are a few guidelines to help you decide what needs to be fixed and what doesn’t:
First impressions count: Try to fix things that affect your car’s appearance. Replace broken headlights, touch up scrapes and scratches, wash and wax your car, clean up the interior and use
baking soda to remove odors.
Safety first: Buyers want to know the car they’re buying is safe. Warning light issues should be fixed, old tires replaced, and cracked windshields repaired.
Basic maintenance: Change the oil, check transmission fluid, rotate the tires, and check the tire pressure. Buyers want to know the car they buy has been cared for.
Who are you selling to? You’ll get more for your car selling to a private party than you will selling to a dealer. If you do sell to a dealer, though, dealers can make repairs cheaper than you could. What might cost you $1000 to fix may only cost a dealer $400. You could actually come out $600 ahead letting the dealer take care of it.
Check the Blue Book value: Services like Kelley Blue Book that help you determine the value of your car generally factor in the condition of your vehicle. Compare the value of your car, for example, if it is considered in “good” condition versus “excellent”. Would the difference in these two values justify the cost of the repairs?
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