Everyone has had the experience of selling their car to a private party. The process is simple enough. Simply create an ad on Craigslist, stuff it with lots of pictures and provide your contact information (phone, email, or both) and wait for calls. I agree the process is not difficult and in a perfect world, this is the best way to sell your car to a private party.
The problem is that the Internet world is changing rapidly, and I am sorry to say that the number of scams is increasing at a terrific rate. Crooks can scan Craigslist and get your phone number and email and then contact you with any number of scams. For example, see the previous email for the "Car Title Check" scam.
More importantly, potential buyers will come to your home to see the car. Do you want strangers to know where you live? A quick tip: if you are selling a car always meet at a public place like a shopping center and bring a second person with you. One last scam is a fake cashier check. Read this article to learn how to spot a fake cashier's check.
How can I avoid all this risk?
The answer is a consignment sale. A Consignment Sale is a contract between you and a licensed car dealer. In the contract, you specify the selling price, the commission fee (flat rate or percentage) and the time period of the agreement. The car dealer will professionally advertise your car and advertise it in the leading car selling websites (e.g. CarGurus, AutoTrader, Cars.com, Craigslist) and social media sites e.g. (Facebook, Instagram, YouTube, Letgo). The dealer will manage the interaction with potential buyers. They will show the car and complete the sales transaction. Once payment is received, they will deliver the sales proceeds to you, less the contract fee.
A consignment usually costs between 5-10% of the sales amount. Is this cost worth the money? This depends if you have the time to sell the car and if you are ok dealing directly with strangers. If you do not have the time and you do not want to meet with strangers then consider a Consignment Sale.
Ask your local dealer if he will sell you car on consignment. Discuss with him what advertising he will do and how much he will charge. Discuss the length and terms of the agreement. What happens if you find a buyer first? What happens if after the contract period expires the car does not sell?
Once you understand the terms of the agreement, you can be confident that you are entering a good agreement. Always work with licensed dealers in your local community that you can trust.
Thanks in part to its upscale cabin, abundance of cargo space, and outstanding predicted reliability rating, the 2018 Kia Soul rates a #1 in the US News compact car rankings. The base model is a great value, and higher trims are playful and nicely equipped.
The 2018 Kia Soul stands out from nearly all other compact cars for a number of reasons, including one of the longest warranties in the class. A few downsides include an underwhelming base engine and low fuel economy. Beyond that, it has a high-grade cabin, ample interior space, poised driving dynamics, and a perfect five-out-of-five predicted reliability score.
Whether you're looking for a compact car, a hatchback, or a small crossover, the Soul stacks up well against its rivals. It has the lowest price tag in the compact car class, and it’s cheaper than some subcompact SUVs like the Honda HR-V and Mazda CX-3. The Soul also offers more total cargo room than these crossovers, making it a good bang for your buck. The Soul is an even better buy if you move above the base trim and add amenities like a turbocharged engine, an infotainment system, and driver assistance features.