Researching Used Cars/
Researching Your Trade & Selling Your Old Car Yourself
Used Vehicle Classified Sites
If you enter "Used Car Classifieds" in your
search engine, hundreds of Web sites will come up. These sites will
include independent sites, commercial sites, dealership sites, local
newspaper sites, and sites put up by consumers solely to sell one
vehicle.
Many of the sites have the same vehicle inventory listings. All these
sites are free to search, and most of them will give you pictures
and data on
each specific vehicles. Keep in mind that few of these sites are written
by monks--they're written by people who want to sell you something.
So,
don't believe everything you read on any site.
A WEB TIP: Try to find six or seven
vehicles that interest you, and print off the page for each of these
vehicles. If you actually plan to buy from an online source, choose
vehicles in a location close enough to you for you to arrange a physical
inspection. Never buy a used car without seeing it.
Some sites you may wish to surf:
AutoTrader
with listings of over 2 million vehicles claims to have the largest
number of used vehicle ads on the Internet. The vast majority
are from dealerships though private individuals may list their
vehicles also. Dealers and private sellers are clearly indicated.
Many vehicles have photos. Among the owners of Autotrader.com
are Manheim Auctions (huge auto auction company) and its parent
company Cox Enterprises.
Cars.com
is a site maintained by major newspaper chains in cooperation with
dealers. Many, many of the individual ads here are for vehicles at
participating dealers' lots. Expect normal dealership hoopla. ?
eBaymotors.com now represents a separate section of the eBay auction
site. Listings come from private sellers and dealers. Most ads have
photos. The listings and presence of eBaymotors has grown in recent
years until the listings are fairly extensive. Use the same caution
you'd use with any online auction site in using this one.
stoneage.com
has vehicles that are listed in the Yahoo Classifieds, AmericiTech
Yellow Pages, Cartrackers, and the Classified Network. A drawback:
Stoneage has
constant pop-ups asking you to register. The site has heavy dealer
involvement.
vehix.com offers ads from about 950 dealers
they claim. Individuals are also able to post ads of their vehicles
on the site for a monthly fee. Vehix.com has been advertising
heavily on cable television in recent months..
Your local newspaper's classifieds/Web site.
Heavy dealer involvement.
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Used Vehicle Pricing
Guides Or Appraisal Sites
Used car pricing guides can't provide the wholesale
value, loan value or retail value of a particular used vehicle in your
local area and marketplace today. They can give you the average prices
such cars are selling for at auction. Use them with that fact in mind.
The only accurate way to appraise or determine the wholesale value of
your present car is to shop it in your local market. (Don't
Get Taken tells you how). Appraisal sites can only give you the
average wholesale price for cars like yours or the used car you are
thinking of purchasing. Keep this in mind when you use these figures.
Web tip: Avoid any appraisal site that requires
you to "certify" that the information you have given them on their
on-screen questionnaire is "correct and complete." Making such
a certification can make you libel if you turn out to sell your
car to that service
and the information you gave was inaccurate. Don't "certify" anything
about your vehicle.
Individual Dealer Web Sites
General Usefulness in determining your
old vehicle's true wholesale value online: Virtually none
True intentions of these sites: Sell you a vehicle right now.
How to find a local dealership site:
Search: "Car dealership" plus your nearest metro area for broad search.
For a narrow search, use "Car Dealership" plus your smallest city
Some dealership sites simply send you to pricing sites, such as Kelly
Blue Book. Many dealer sites will give you a "value" for your old
car online. But that "value" probably won't be your vehicle's true
wholesale value. In all likelihood, the value dealerships give you
online will be higher than your old car's true wholesale value. Why
would they do that? To "hook" you--to get you to come to the dealership.
After you come in, the dealership finds a reason to tell you your
old car isn't at all worth what the dealership has "suggested" online.
Dealerships get away with such deception online by playing with words.
For instance, a very typical dealer site will happily give you an
"Internet Trade-in Pre-Evaluation." What is a "pre-evaluation?" Nothing!
It's a weasel phrase. On another page of this Web site, the dealership
insists that you grant the right to have your vehicle "evaluated"
by "authorized dealership personnel." That means they don't have to
stick to their "pre-evaluation" figure at all. Avoid these "appraisals."
Established Used-Vehicle Market Guides
Online
Examples: Kelly Blue Book, Edmunds, Black
Book And NADA
General Usefulness In Determining Your
specific Vehicle's Wholesale Value: Useful as a beginning guideline
only.
The main problem with these sites:
If you read it, you believe it.
To Receive a Free "Appraisal"
Edmunds
Kelly
Blue Book
The NADA Yellow
Book
The Black
Book
The Web sites for these services use simple,
clear instructions and online forms. The forms ask for great detail
about your present vehicle. Give it to them. This detail determines
the relative accuracy of each site's appraisal. The sites are generally
very accurate in providing average values of vehicles. They cannot
provide you the specific wholesale value of your car, however.
While these services are legitimate, almost
all of them unfortunately have become prospecting tools for sellers
or partners of sellers. Some of these companies now have "custom"
online versions tied to individual manufacturers and some have
custom versions tied to buying services or Internet portals.
Other Automotive Sites That Will "Appraise"
Your Vehicle
General Usefulness In Determining Your
specific Vehicle's Wholesale Value: Useful as a beginning guideline
only.
The main problem with these sites:
Most are ultimately dealer-referral services
Finding the sites: Search "used
car appraisals" using your browser. Literally hundreds of sites
will pull up, including sites related to buying clubs, portals.
Not all of these sites are free. Many of them
have strong dealer relationships. Expect many of the dealer-related
sites to attempt to push you into buying right now rather than
simply
having your car appraised. If that happens, ignore the pressure.
Use the site only for appraisal purposes at this time. Also, if
any sites ask for "certification" of any data you provide, refuse
to give it.
Car Depreciation Calculators
Example: www.dean.usma.edu/socs/persfin/cardep.htm
General Usefulness in Determining the
true Wholesale value of your Vehicle: Worthless, but interesting
This type of calculator was developed by
the Department of Defense Military Assistance Program. It's too
simple
to be much when it comes to determining wholesale value. These calculators
can't write checks, don't factor in vehicle condition, don't consider
current market conditions, and don't consider vehicle make or model.
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Warranty Companies
For Used Vehicles [to come]
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Auto Escrow Sites
When you sell a vehicle yourself, you are responsible
for transferring title and doing other paperwork required by your state.
If you have a payoff on your old car, you are responsible for paying
that off and securing the title for your old car. Buyers want to give
personal checks, and you don't want personal checks. Unless you're ready
for a lot of odd paperwork, we recommend you use an online auto
escrow service to handle these details. You may spend up to $200,
but it's worth every penny. And you pay nothing if you don't sell your
vehicle and actually use the service.
Most of these services will also certify that
your old vehicle has never been totaled in an accident-another nice
selling point. Although these services general don't go to the title
office, they will prepare your paperwork and even give you the address
of the title office you need to visit.
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