![Before you have work done on your vehicle Before you have work done on your vehicle](/uploads/1/2/5/4/125498969/678780643.jpg)
You don’t need to point out every single knock and ding. Let the dealer or individual know that you have done your research. Be prepared to counter their offer, but have some flexibility rather than sticking to a firm price. Bring along any maintenance records on your vehicle. This is evidence that you kept the car well-maintained. Ask the technician at the repair shop you are considering if they have worked on the same make and model of vehicle before. If they say that they have, then you can trust them with your car. Test out your car before paying the auto repair shop. Make sure that you are receiving OEM parts. These parts are directly from the manufacturer.
The techniques used to paint the body of a vehicle can vary depending on the size of the area you’re working on and the original paint and finish. Unless you have an experienced and steady hand (and the car’s original paint hasn’t faded or changed color since it was new), it’s almost impossible to conceal the fact that you repainted anything larger than a small area. Larger areas require spray-painting, which must be done in a well-ventilated area that’s free from dust and dirt. So if the area you need to paint is large, it will probably cost you less in time, money, and effort to have the job done by a professional who can match the paint and do the job right.If you want a cheap but decent job that will last a year or so, find out where local car dealers take the used cars they get as trade-ins to have them spiffed up before resale. To save money, you can remove any rust, spot-fill, and paint the small areas yourself, and then have the rest of the job done professionally.Practice on a piece of scrap metal before you tackle the car, and don’t expect the results to look terrific.
Follow these steps:.Buy the right paint color.Look on the firewall of your vehicle — you should see a little plate with the body number and paint code number on it.Wash the area thoroughly.Remove any rust arrestor, dust, dirt, filler residue, and wax; then let the area dry completely before you apply the primer. Primer is used to seal a metal surface against rust and to provide a surface for the paint to adhere to. Primer also fills in tiny holes and imperfections in the surface.If you’re dealing with a surface scratch or a chip that isn’t down to the bare metal, you can probably get away with simply applying the paint. But never apply paint to bare metal or plastic. If a bare spot is exposed, or if the spot is larger than a fraction of an inch, prime the area first.Use a tiny brush or a matchstick to apply the primer sparingly.You shouldn’t need more than a drop to cover the damaged area. Avoid getting primer on the original paint.
If you do, wipe it off immediately. Let the primer dry thoroughly before moving on to the next step.Mix the paint in the touch-up bottle.Unless your vehicle is very new, the color probably won’t match exactly (which is another reason for keeping the area as small as possible). The paint on new models doesn’t fade as quickly or badly as old paints did.Apply the paint, covering the surface of the spot completely and working inward from the edges.If you’re painting a scratch or a very small area, you can cut down the brush or use a matchstick or toothpick instead. The paint should be no thicker than the surrounding surface or it will show, run, bubble, or peel off.Wait several days for everything to dry completely.
It’s not difficult to sell a car with a loan on it — but it adds extra steps and might take a little longer.When you have a loan, the lender is, in a sense, part owner of the vehicle. The lender’s name may be listed on the car title or the lender may actually hold the title. This is to ensure you can’t sell the vehicle and to the new owner without the lender getting its money — or the balance of the loan.Whether you want to or trade it in to a dealer, you’ll need to know how much you still owe on your loan, whether it’s more or less than what you’ll be able to get by selling your car, and how your lender requires you to handle the transaction.
Information you’ll needStart by getting some basic information about your loan and your car:1. Ask your lender for the “payoff amount” and how to handle the transaction. The payoff amount is how much it will cost to own your car outright. The loan must be paid off completely for the lender to release ownership and sign off on the title.
If you’re planning to sell your car privately, also ask the lender about the necessary steps. If the loan is from a local bank, or one with local branches, they’ll probably tell you to find a buyer and bring them to a bank office to sign the paperwork. If you have a loan with an online lender, they’ll likely direct you to a bank partner or another financial entity to complete the transaction.The payoff amount is how much it will cost to own your car outright.2. Determine what your car is worth.
Using a pricing guide, such as Kelley Blue Book or Edmunds, find the current of your vehicle, what you’re likely to get if you sell the car yourself, or the of your vehicle, which is roughly what a dealer will give you for the car. Generally, you’ll get more for your car in a private party sale than when you trade it in.3. Su btract the payoff amount from the value of the vehicle. If the result is positive, you have equity in your car; if it’s negative, you’re.
Selling a car with negative equity means you need to give the lender all the money from the car sale and pay for the negative equity.With this information in hand, let’s look at each scenario. Private sale with positive equityThe buyer will pay the total amount to the lender and the lender will then pay the difference to you. Or, the buyer will pay your remaining loan balance to the lender and make a separate payment to you. For example, if you still owe $5,000 and your buyer is going to pay $15,000 for your car, you’ll pocket $10,000 for the sale.If you owe $5,000 and the buyer will pay $15,000 for your car, you’ll get $10,000 for the sale.Then you and the lender sign the title and give it to the buyer. The buyer takes the signed title (and any other required paperwork) to the state’s department of motor vehicles and gets a new registration and title.
Private sale with negative equityWhen you owe more than your car is worth, you have to somehow give the lender the difference between the sale price and what you owe. You can pay cash, if you have it, or you might have to take out another loan. Once that’s arranged and you’ve found a buyer, you can continue with the next steps.If you owe $10,000 and the buyer will pay $9,000 for your car, you would pay the lender the $1,000 difference.The buyer will pay the sale amount to the lender. You pay the difference to the lender, either in cash or with your second loan. For example, if you still owe $10,000 and your buyer will pay $9,000 for your car, you would pay the lender the $1,000 difference.Finally, you and a representative of the lender sign the title and give it to the buyer so they can get a new title and registration. Trading in a car you owe money onIn this case, the dealer can handle all the paperwork. When you trade in a car that’s worth more than you owe, the dealer gives you a credit for the difference to use toward the purchase of your next car.» MORE:If you’re upside down on the loan, the dealer will likely offer to roll the negative equity into your new loan.But if you’re upside down on the loan, the dealer will likely offer to add the negative equity amount into the loan on your new car.
Tread carefully with this option because it means you’re actually taking out a bigger loan for the next car. You may want to consider at a lower interest rate rather than getting a new car.If you’ll be taking out a when you trade in your car, making these smart decisions will save you a lot of money:. and know what interest rate you qualify for. before you go to the dealership. This will keep the dealer from inflating the interest rate on the new loan. Know the trade-in value of your present car and the true market value of the car you’re buying.
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If the dealer doesn’t give you close to these prices, try another dealer or sell the car to a private party.Other variationsIn some cases, an online lender will require the full balance of the loan before it releases the title. If you have the cash ready to pay off the loan and then sell your car, you can do that. Otherwise ask the buyer to provide the money to the lender and have the title mailed directly to them. If you have a close relationship with the buyer (like a neighbor or friend) this will work. But it will be harder to get other buyers to trust this process and spend the extra time it requires. Working with buyersWhen you sell a car you have a loan on, some buyers may be skeptical and reluctant to go through the extra steps. However, if you handle it correctly, many buyers won’t object.
Involving a bank or recognized financial institution will give the buyer confidence that it’s being done correctly.You don’t need to put this loan information in your classified car listing. But once you feel you have a serious buyer, explain the situation before arranging a test drive. Tell them that you’ve talked with your lender and know the exact steps required.In most cases, these steps won’t add time to the sale. In fact, closing a car deal at a bank is a good idea even when a loan isn’t involved. It provides a safe meeting place and, usually, bank employees can answer questions about vehicle transactions. NerdWallet Compare, Inc. NMLS ID# 1617539California: California Finance Lender loans arranged pursuant to Department of Business Oversight Finance Lenders License #60DBO-74812.Disclaimer: NerdWallet strives to keep its information accurate and up to date.
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