When it’s time to replace your vehicle, there are a lot of things to think about. Over the next few weeks,
we will take a look at all the steps to buying a new car. One of the first things you may think about is
what you will do with your current vehicle. Will you trade it in or sell it yourself? Your credit union
can help you get the facts you need to make that decision.
AutoLink, on our website, www.wkfcu.org, is a great place to get information.
According to CarBuyingTips.com, dealerships will only offer 25% of a used vehicle's fair market value if
that vehicle is over 4 years old. That is more than enough incentive for most consumers to spend a little
extra time to sell their used vehicle on their own. The upside to trading is that the dealer does all the
paperwork. After settling on an acceptable price, all you do is sign the vehicle over and be done with it.
Regardless of your choice, there is one thing you should know -- What is the fair market value for your
vehicle? The easiest way for you to find this information is to run the Black Book™ report on your credit
union's website. This can be found by clicking on AutoLink. Members can choose to search by VIN or by
entering the year, make, model, series and style. Your Black Book™ database is updated weekly, so these
prices will always be up-to-date for you.
Another important document to have on hand for potential buyers is the vehicle history report for that
particular vehicle. Unless you have a pre-existing relationship with the potential buyer, this is an
easy way to ease any fears the buyer may have in regards to the vehicle's past. Normally an AutoCheck©
Vehicle History report costs $24.99, but it is available for you for only $9.99. This report includes
accident history, title and problem check, odometer check, special vehicle use and event check.
In order to sell a vehicle, it is also important to be able to provide as much of the vehicle's service
records as possible for the prospective buyer. This is another reason why the myEZ Car Care app is so
useful. It allows you to print off the entire maintenance history of the vehicle. The alternative would
be to gather up any receipts and service records pertaining to that vehicle and provide the buyer with
as much information as possible. It's important for the buyer to know that the vehicle was serviced and
cared for properly since these details will effect the number of years the vehicle has left.
Before posting an ad online, it's very important to take good photos of the vehicle. Ads without photos
or with only a few grainy photos will attract fewer prospective buyers. If no photos are included,
people may assume there's something wrong with the vehicle and move on to other advertisements.
By providing potential buyers with a Black Book™ report, AutoCheck© Vehicle History report, myEZ Car Care's
detailed vehicle service records, you will easily be able to justify the price of your vehicle and make it
easier to close the deal.
Willis-Knighton Federal Credit Union is with you all the way through the process, not just financing.
AutoLink, on our website, www.wkfcu.org, is available to you whenever you are ready. Get the information
you need from the comfort of your home.
(Article Reprinted in part from AutoLink. *Annual Percentage Rate Membership and Approved Credit Required. Some Restrictions Apply. Limited Time Offers.)
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*APR = Annual Percentage Rate
*APY = Annual Percentage Yield
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