Sell My Truck: When, Where and How

June 21, 2023 by andrewin Auto, Green LightLeave a Comment

Sell My Truck: When, Where and How

Selling a truck can be a significant decision, whether you’re looking to upgrade to a new vehicle or simply need to part ways with your current one. However, knowing when, where, and how to sell your truck can greatly impact your selling experience. In this blog post, we’ll guide you through the essential considerations for successfully selling your truck and maximizing its value.

When to Sell My Truck

Timing plays a crucial role when selling your truck. Here are a few factors to consider regarding when to put your vehicle on the market:

Mileage and Condition: High mileage and extensive wear and tear can significantly affect your truck’s resale value. If your truck is nearing a significant maintenance milestone or requires expensive repairs, it may be a good time to consider selling it.

Seasonal Demand: Certain seasons and weather conditions can influence the demand for trucks. For example, four-wheel-drive trucks are more sought after during the winter months in areas with harsh weather conditions. Consider the local market and demand fluctuations to determine the best time to sell.

New Model Releases: When a new model year is released, it can impact the resale value of older models. If you’re planning to sell your truck, it might be wise to do so before a new model hits the market, as it could affect the perceived value of your vehicle.

Where to Sell My Truck

Choosing the right platform or method to sell your truck can make a significant difference in finding the right buyer and obtaining a fair price. Here are some options to consider:

Online Marketplaces: Websites like Autotrader, Cars.com, and Craigslist offer a broad reach and allow you to list your truck for sale to a wide audience. Take clear, high-quality photos and write an accurate description to attract potential buyers.

Local Classifieds: Consider advertising in local newspapers or online classifieds specific to your region. This approach can be particularly effective for reaching buyers in your immediate vicinity.

Dealerships and Trade-ins: If convenience and a hassle-free experience are your priorities, trading in your truck at a dealership can be a viable option. However, keep in mind that trade-in offers may not always match the potential value you could obtain through private sales.

How to Sell My Truck

Successfully selling your truck involves taking a few crucial steps to ensure a smooth process. Here’s how you can maximize your chances of a successful sale:

Set a Competitive Price: Research the market value of your truck by checking similar listings and pricing guides. Aim for a competitive price that reflects your truck’s condition, mileage, and additional features.

Prepare Your Truck: Before listing your truck for sale, thoroughly clean both the interior and exterior. Consider addressing any minor repairs or cosmetic issues to make your truck more appealing to potential buyers.

Gather Documentation: Collect all relevant paperwork, including the vehicle title, maintenance records, and any warranties. Buyers are more likely to trust and be willing to pay a fair price for a truck with a comprehensive documentation history.

Be Available and Responsive: Promptly respond to inquiries from potential buyers and be flexible with scheduling viewings and test drives. Being accessible and accommodating can expedite the selling process.

Easiest Way to Sell My Truck

When it comes to selling your truck, there are numerous platforms and methods available. However, Carmigo stands out as the easiest way to sell your truck quickly and effortlessly. Here’s why:

1. Simplified Listing Process:

Carmigo streamlines the listing process, making it incredibly simple to create an attractive and detailed advertisement for your truck. With user-friendly tools and intuitive interfaces, you can quickly upload high-quality photos, provide essential vehicle details, and set your desired price. Carmigo’s platform ensures that your listing looks professional and appealing to potential buyers.

2. Extensive Reach:

Carmigo has a vast network of dealerships actively searching for vehicles. By listing your truck on Carmigo, you gain exposure to a wide audience of interested dealerships looking specifically for trucks. This significantly increases your chances of finding the right buyer quickly. Carmigo’s user base is constantly growing, ensuring a higher likelihood of receiving inquiries and offers.

3. Expert Support:

Carmigo understands that selling a truck can be overwhelming for some individuals. Therefore, they provide reliable customer support to assist you every step of the way. Whether you have questions about creating a listing, pricing your truck, or navigating the platform’s features, Carmigo’s dedicated support team is there to help. Their assistance ensures a smooth and hassle-free selling experience.

4. Convenience and Time-Saving:

Perhaps one of the most significant advantages of using Carmigo is the convenience and time-saving aspect. Selling a truck privately often requires multiple listings on various platforms, responding to inquiries from different sources, and coordinating viewings with potential buyers. Carmigo consolidates the selling process into a single platform, saving you time and effort.

5. Safe and Secure:

Carmigo verifies all the dealerships, minimizing the risk of dealing with unreliable or fraudulent individuals. The secure messaging and chat features within the platform enable communication between parties without having to disclose personal contact information, protecting privacy and maintaining a safe selling environment. Additionally, Carmigo provides dedicated customer support to assist users and address any concerns or issues that may arise. With Carmigo’s commitment to safety and security, you can have peace of mind throughout the selling process, knowing that your interactions and transactions are protected.

When it comes to selling your truck, timing, location, and strategy can significantly impact your success. Taking the time to evaluate the market conditions, such as seasonal demand or the release of new truck models, can help you determine the optimal timing for selling your truck.

Additionally, choosing the right location to advertise your truck, whether it’s through online platforms, local classifieds, or even dealership trade-ins, can ensure maximum exposure to potential buyers. Presenting your truck in its best possible condition, both visually and mechanically, and setting a competitive price based on thorough research will further enhance your chances of attracting the right buyer and securing a fair price for your truck.

Carmigo Hits 5,000 Cars Sold Milestone

June 21, 2023June 29, 2023 by andrewin Auto, Easy, Green LightLeave a Comment

Carmigo Hits 5,000 Cars Sold Milestone

5,000 Cars Sold latest in series of achievements for the automotive tech startup

We just sold our 5,000th car on the Carmigo Marketplace.

And this comes on the heels of a $7 million Series A fundraising round, recognition as one of the Emerging 8 companies making a difference in the technology and automotive space, and selection for the VillageX incubator in New Orleans.

The last two years of hard work are starting to pay dividends, even with month-over-month declines in the used car market.

We had an inkling the Carmigo Marketplace would work — which is why we’re all so invested in it. But to work this well, this fast feels exciting and affirming.

How We Did It

We did it by making things easier.

Sure, we’re oversimplifying, but that’s what we do, we take a complex process and handle the tricky parts so our buyers and sellers don’t have to.

With our online marketplace, used car dealerships all over the country have access to front-line ready consumer cars that we’ve already pre-inspected and vetted. They make offers on the inventory they want without having to inspect a bunch of drive-ups in person.

And our mobile scanning technology allows sellers to list their car from their phone, so they can sell their car without ever leaving their driveway.

Carmigo’s team handles the legal paperwork, title transfer, loan payoff, ACHs the money to the seller and picks up the car.

For our services, we charge a flat, $350 fee taken out of the final sale price. It’s a win-win-win.

Carmigo Named an Emerging 8 Company

Speaking of easier, Cherokee Media Group named Carmigo an Emerging 8 company, an award given to “companies that improve a specific aspect of the automotive industry through technology.”

That is certainly a validation of our mission statement: Make it easy.

Here’s what the Cherokee Media Group said about this year’s class — “We are thrilled to recognize and celebrate the accomplishments of this year’s honorees who are setting new standards for excellence in the automotive industry,” Cherokee Media Group president Bill Zadeits said. “The Emerging 8 award program was developed to fulfill our commitment to honor companies that push the boundaries of innovation.”

As a part of the recognition, Carmigo is featured in the April issue of Auto Fin Journal and will be recognized at the April 19 Auto Intel Summit in Raleigh, N.C. Our CFO, Daniel Kim, is going to be there to accept the recognition and speak on a panel.

Here’s what our CEO Andrew had to say —“Being named an Emerging 8 company is special to us because it reflects our mission,” said Andrew Warmath, Carmigo founder and CEO. “We have the words ‘Make it easy’ covering a wall in our office because we want to use our technology to make buying and selling cars easier. This recognition affirms our mission.”

We’ll leave you with one more quote from the kind folks at Cherokee Media Group:

“The 2023 Emerging 8 honorees are making significant contributions to the automotive industry through their innovative use of technology,” said Amanda Dunlap, EVP of events and marketing at Cherokee Media Group. “We are proud to recognize their ingenuity and we look forward to celebrating their success at this year’s Auto Intel Summit.”

Carmigo Selected for VillageX Incubator

Carmigo was also selected as a VillageX Incubator startup in 2023, giving our founders the opportunity to present to investors and learn from other innovators and entrepreneurs.

“The goal of the VILLAGEx accelerator program is to identify the entrepreneurs who are the future business leaders for our region and give them the tools needed to grow their companies,” said Jon Atkinson, CEO of The Idea Village, in a press release. “The results will be more good jobs, more investment in our city and more economic opportunity for the Gulf South.”

Carmigo was one of 13 startups selected from a pool of more than 60 based on market potential, growth trajectory, industry potential, product stage, team readiness and traction.

$7 Million Series A Fundraising Round

After a year-and-a-half of operation, Carmigo conducted a Series A funding round and secured $7 million from both the original investors as well as new investors.

This funding round brings the total investment in Carmigo to $10 million since its launch in January 2021.

Here’s what Andrew said, “This round-close is a significant milestone for Carmigo. Our team created Carmigo after recognizing a significant pain point in the automotive industry. Our virtual platform creates a convenient and competitive environment for consumers, while helping our dealers source quality inventory. We are proud of what we have built, but this recent investment makes us excited for what’s to come.”

A major investor in the round was Southern Bancorp in partnership with Advantage Capital.

“Our core values stem from our commitment to invest in small businesses and grow communities,” said Brian Anderson, Principal at Advantage Capital. “Carmigo is the perfect example of this dedication. They are committed to bringing jobs to Tupelo and fostering the job market.”

Bill Wright, CEO of Southern Bancorp’s Western Region added, “The investment by our revolving loan fund in Carmigo meets Southern’s commitment to make flexible lending available in markets where capital is less readily available.”

Thinking About Selling Your Car?

List your car on the Carmigo marketplace in 10 minutes or less and start getting offers in as little as a day.

Most sellers on the Carmigo marketplace get multiple offers and sell in less than a day.

It’s always free to list, and you don’t have to take a penny less than your bottom price.

Introducing the Carmigo Inventory Integration Tool

June 20, 2023June 20, 2023 by jbclarkin Green Light, Tips & TricksLeave a Comment

Introducing the Carmigo Inventory Integration Tool

Welcome to Carmigo Inventory Management

Most dealerships have a strict overage policy to insure inventory quality. But what happens the day after a car reaches its age limit? It doesn’t disappear.

List Your Overage Cars Instantly

Thanks to the new one-of-a-kind Carmigo Inventory Management tool, you’ll soon be able to instantly integrate your dealership’s inventory with the Carmigo platform.

See all of your cars and their ages in your Carmigo Dashboard.

So no more virtual inspections and no more listing questionnaires. Just click the button and set your price.

Best of all: No more worrying about overage cars.

Turnkey Solution

How do you get Carmigo Inventory Management?

We can integrate your dealership’s inventory quickly and seamlessly. Simply contact your Carmigo rep and we’ll get things going.

If you operate in Mississippi, Alabama, and Tennessee, there is no need to onboard, your inventory will populate into the selling dashboard the day the tool launches thanks to the VIN10 database.

How and Where to Sell My Toyota

June 20, 2023 by andrewin Green Light, Tips & TricksLeave a Comment

How and Where to Sell My Toyota

If you’re thinking “how and where should I sell my Toyota?” you’ve come to the right place. Whether you’re upgrading to a new model or simply looking to part ways with your current vehicle, this blog will guide you through the process of selling your Toyota effectively. From preparing your car for sale to exploring different selling platforms, we’ll cover all the essential steps to ensure a successful transaction.

Gather All Relevant Documentation

Before saying, “I should sell my Toyota,” it’s crucial to gather all the necessary paperwork. This includes your car’s title, registration documents, maintenance records, and any warranties that may still be valid. Having these documents readily available will streamline the selling process and build trust with potential buyers.

Here is a basic checklist of a few documents needed to sell a car:

Vehicle Title
Loan Payoff Information
Vehicle History Report
Maintenance Records
Warranty Documents
As-Is Bill of Sale
Owner's Manual

Determine the Value of Your Toyota

First impressions matter when it comes to selling a car. Take the time to clean both the interior and exterior of your Toyota thoroughly. Consider getting it professionally detailed to enhance its appeal. Fix any minor issues, such as burnt-out bulbs or scratches, and ensure that all maintenance is up to date. Presenting a well-maintained vehicle will increase its perceived value and attract potential buyers.

1

Clean It

Clean the exterior and interior thoroughly. Wash the outside with car wash soap and water. For the interior, make sure to vacuum, dust, and remove stains.

2

Detail It

Use a clay kit on any faded paint and polish up your headlights. Also consider car wax.

3

Fix It

Fix up any minor issues and take care of any dashboard lights that might be on. Replace worn parts if needed.

Craft a Compelling Advertisement

When creating an advertisement for your Toyota, be sure to include relevant details such as the year, make, model, mileage, condition, service history, and any noteworthy features. High-quality photographs from various angles can significantly enhance your listing’s appeal. Honesty and transparency in your description will build trust with potential buyers and save time by attracting genuinely interested parties.

Attributes of a compelling advertisement:

Includes Clear and Concise Information
Photos and/or videos are high-quality
Ad copy is descriptive and engaging
Includes a complete service and maintenance history
Pricing is accurate
Ad is transparent and honest
Contact information and availability are stated

Negotiate and Finalize the Sale

Once you start receiving inquiries or offers from potential buyers, be prepared to negotiate. Determine your lowest acceptable price in advance, and remain firm yet open to reasonable offers. Conduct meetings in well-lit public spaces and insist on accompanying prospective buyers during test drives. Once you agree on a price, complete the necessary paperwork, sign the title transfer, and ensure all financial transactions are handled securely.

Do's of Negotiating & Finalizing

Dont's of Negotiating & Finalizing

Research and set a realistic price
Research the market value of your car and set a realistic selling price before entering negotiations. Be open to reasonable offers and consider the condition, mileage, and other relevant factors when determining the final price.

Be Prepared and Knowledgeable
Gather all the necessary documents, such as the title, maintenance records, and any warranties, and have them readily available. Be knowledgeable about the details and history of your car to address potential buyer inquiries confidently.

Highlight the Car’s Value
Emphasize the car’s positive attributes, unique features, and recent maintenance or upgrades. Showcase its well-maintained condition, low mileage, or any additional accessories that add value. This can justify your asking price and make the buyer feel more confident in their purchase.

Respond Promptly and Professionally
Be responsive to inquiries from potential buyers and maintain a professional demeanor throughout the negotiation process. Answer questions and provide additional information promptly, demonstrating your commitment to a smooth transaction.

Be Willing to Negotiate
Negotiation is a common part of the car selling process. Be prepared to negotiate on the price, but also consider other factors, such as payment terms, if necessary. Be open to finding a mutually agreeable solution that satisfies both parties.

Overinflate the price
Setting an unrealistic or inflated price can deter potential buyers and prolong the selling process. Conduct research to determine a fair market value and avoid overpricing your car.

Don’t Rush into Accepting the First Offer
While it’s exciting to receive an offer, don’t rush into accepting the first one that comes your way. Take your time to evaluate the offer, compare it to the market value, and consider any counteroffers before making a decision.

Don’t Be Dishonest or Mislead Buyers
Honesty and transparency are key to building trust with potential buyers. Avoid withholding critical information or misrepresenting the condition or history of the car. Disclose any known issues or accidents upfront to maintain ethical conduct during the sale.

Don’t Rush the Buyer
Allow potential buyers sufficient time to inspect the car, test drive it, and ask questions. Rushing or pressuring the buyer may create a negative experience and lead to a lost sale.

Don’t Forget to Finalize Proper Documentation
Once you’ve agreed on a price, ensure that all necessary paperwork is completed accurately and legally. Transfer the title, provide a bill of sale, and complete any release of liability forms required by your local jurisdiction.

Should I sell my Toyota on Classified Sites?

Websites like Craigslist, Autotrader, and Cars.com allow you to list your Toyota for sale. These platforms offer broad exposure to potential buyers and often allow you to set your own price and negotiate directly with interested parties.

In regards to online classified websites where you can sell your Toyota, there are several avenues to explore:

Should I sell my Toyota to Dealerships?

Many Toyota dealerships accept trade-ins or buy used vehicles directly. Selling to a dealership offers convenience and saves you the hassle of handling inquiries and negotiations yourself. However, keep in mind that dealership offers may be lower compared to selling directly to a private buyer.

Selling Your Toyota on Carmigo:

One of the easiest and quickest ways to sell a car instantly is through Carmigo. The Carmigo marketplace has plenty of dealerships eager to give you offers on your car. The process to list is simple, and only tasks take a few minutes. After you answer some questions about your vehicle and snap a couple pictures, you’re well on your way to selling your car. Carmigo sends your car out to its huge network of dealerships and before you know it, your car sells instantly (or at least within a day). This is all done from your phone too, so not only is it quick – it’s extremely easy. Once your car sells, they pick it up and you get paid.

Here’s a breakdown of the typical timeline when selling your car through Carmigo:

List: Navigate to the Carmigo website to begin a listing. Just enter your VIN and follow the instructions until you’ve filled out all the necessary information. Make sure information like your mileage and condition are accurate. Then take a few pictures. After this, click “sell my Toyota.” Carmigo will take care of the rest.
Sell: At this stage, there is little left for you to do. You can simply sit back and wait for offers to roll in. Perhaps take a stroll or watch your favorite show. Once your Toyota sells, Carmigo will arrange for your vehicle’s pickup.
Get Paid: Once your Toyota is picked up, you’ll get paid. Simple as that. If you have any questions along the way, the Carmigo team is happy to help. With very little effort and time, you can sell a car in an instant with Carmigo.

When Should I Sell My Car

June 19, 2023 by andrewin Green Light, Tips & TricksLeave a Comment

When Should I Sell My Car

Determining the Best Time to Sell

If you're considering selling your car, timing can play a crucial role in maximizing its resale value. Choosing the right moment to sell can make a significant difference in the amount of money you receive. Many factors, such as market conditions, seasonal trends, and your car's condition, impact the optimal time to sell.

Here are some things to consider when you want to determine when to sell a car:

Assess the Market Demand

One of the primary factors to consider when determining the best time to sell your car is market demand. Keep an eye on trends in the automotive market, including fluctuations in prices and demand for certain types of vehicles. Online car marketplaces and classified ads can provide insights into the current market conditions. If the demand for your car’s make, model, or specific features is high, it could be a favorable time to sell.

Research Online Platforms: Utilize online car marketplaces, classified ads, and automotive forums to gauge the demand for your specific make, model, and year of the vehicle. Look for similar cars listed for sale and take note of their pricing, how long they have been on the market, and the level of interest they generate through inquiries or comments.
Analyze Pricing Data: Examine historical pricing data for your car model to identify any patterns or fluctuations in its value. Online resources like Kelley Blue Book, Edmunds, or local dealership websites can provide insights into the average selling price of vehicles similar to yours. Pay attention to the pricing trends and any deviations from the norm.

Consider Local Factors: Remember that market demand can vary based on your location. Certain car models may be more popular or in higher demand in specific regions or cities due to local preferences, climate, or other factors. Research regional automotive markets to understand if there are any unique factors influencing demand in your area.
Check Supply and Demand Balance: Evaluate the supply and demand balance for your car model. If there is an oversupply of similar vehicles in your market, it might be a less favorable time to sell as competition can drive prices down. Conversely, if the demand exceeds the available supply, you may have an advantage and be able to command a higher price.
Analyze Market Trends: Stay updated on the latest market trends and news related to the automotive industry. Factors such as changes in consumer preferences, advancements in technology, or government regulations can impact the demand for specific types of vehicles. By keeping abreast of these trends, you can anticipate shifts in market demand and adjust your selling strategy accordingly.
Seek Expert Opinions: Consulting with professionals, such as auto appraisers or local dealerships, can provide valuable insights into the market demand for your car. These experts have extensive knowledge of the automotive industry and can offer guidance on the optimal time to sell based on their experience and expertise.

Consider Seasonal Trends

Seasonal trends can significantly impact the selling price and demand for your car. In general, the demand for convertible or sports cars tends to increase during the spring and summer months when people are looking to enjoy the open road. On the other hand, four-wheel-drive vehicles, SUVs, and trucks may be more sought after during the winter months, particularly in areas with harsh weather conditions. By aligning your sale with the appropriate season, you can potentially attract more interested buyers and secure a better price.

Spring and Summer:

During the spring and summer months, there is typically an increase in the demand for convertible and sports cars. As the weather improves and people seek to enjoy the open road, the allure of these types of vehicles grows stronger. If you own a convertible or sports car, selling it during this time may attract more potential buyers and increase the chances of obtaining a better selling price.

Additionally, families often plan road trips and vacations during the summer, leading to an increased demand for larger vehicles such as SUVs and minivans. If you own a family-oriented vehicle, selling it before the summer months can capitalize on this heightened demand.

Fall and Winter:

While demand for sports cars and convertibles may decline in the fall and winter, there are still opportunities to sell your car during these seasons. As the colder months approach, four-wheel-drive vehicles, SUVs, and trucks become more desirable, particularly in regions with inclement weather. People are often searching for vehicles with enhanced traction and safety features to navigate through snow, ice, and challenging road conditions.

If you own a vehicle suited for winter driving, consider selling it in the months leading up to winter. This way, you can target buyers who are specifically looking for these types of vehicles, potentially resulting in a higher selling price.

Year-End and New Year:

The end of the year and the beginning of a new year can also present opportunities for selling your car. Dealerships often offer discounts and promotions during this time to clear out inventory and make room for new models. As a result, some buyers may be in the market for used cars, looking to take advantage of the reduced prices on new vehicles.

Selling your car toward the end of the year can tap into this heightened demand for used cars while buyers are actively searching for deals. Additionally, some individuals may receive year-end bonuses or tax refunds, which can influence their purchasing decisions.

Mileage and Condition:

The mileage and condition of your car are important factors that influence its value. Higher mileage or significant wear and tear can negatively affect your car’s marketability and resale price. If your vehicle has accumulated excessive mileage or requires costly repairs, it might be wise to sell it sooner rather than later. Conversely, if your car is in excellent condition or has low mileage, you may consider holding onto it a bit longer to maximize its value.

Mileage:

The mileage of a car refers to the total distance it has traveled. In general, lower mileage tends to be more appealing to potential buyers, as it suggests that the vehicle has been driven less and may have less wear and tear. Consequently, a car with lower mileage often commands a higher resale value.

Condition:

The condition of your car encompasses both its mechanical reliability and its physical appearance. A well-maintained and visually appealing vehicle will generally have higher market value compared to one with visible signs of wear and neglect.

Physical Appearance:

The overall appearance of your car is also crucial in attracting potential buyers. Ensure that the exterior is clean and free of major dents, scratches, or paint damage. The interior should be tidy, without excessive wear or tear on the upholstery, dashboard, or controls. If your car requires significant cosmetic repairs, such as repainting or fixing major dents, it might be beneficial to address these issues before selling it, as it can improve its marketability and perceived value.

Evaluate Maintenance and Repairs:

Routine maintenance and repairs can also impact the decision to sell your car. If you’ve recently invested in major repairs or have a well-documented service history, it may be beneficial to sell your car while potential buyers can see the value in those investments. On the other hand, if your vehicle requires significant repairs that outweigh its market value, it might be more prudent to sell it sooner to avoid further depreciation.

Maintenance Records: Having a well-documented maintenance history can provide valuable reassurance to potential buyers. Gather all the service records, including routine maintenance such as oil changes, tire rotations, and fluid replacements. Buyers appreciate evidence that the car has been well taken care of, which can boost their confidence in purchasing it. If you’ve diligently followed the manufacturer’s recommended maintenance schedule, be sure to highlight that as well.

Recent Repairs: Consider any recent repairs or upgrades you have made to the car. If you’ve invested in significant repairs or replaced major components such as the engine, transmission, or suspension, these can add value to your vehicle. Highlight these repairs in your listing or when talking to potential buyers. Buyers are more likely to pay a premium for a car with recent repairs, as they may see it as an opportunity to avoid immediate expenses.

Cosmetic Condition: Assess the cosmetic condition of your car, both inside and out. Take note of any dents, scratches, or paint chips on the exterior and consider addressing them before listing your car for sale. A clean and well-maintained appearance can make a positive impression on buyers and potentially increase the perceived value of your vehicle. Similarly, clean the interior thoroughly and address any issues like stains, tears, or excessive wear on the upholstery.

Mechanical Issues: Be honest with yourself about any mechanical issues your car may have. Consider getting a professional inspection to identify any hidden problems that could impact its value. Addressing these issues before selling might be worth the investment, as it can prevent potential buyers from negotiating a lower price or walking away altogether. Buyers generally prefer vehicles that are in good working order and don’t require immediate repairs.

Cosmetic and Functional Upgrades: Evaluate any cosmetic or functional upgrades you’ve made to your car. Upgrades such as new tires, a modern entertainment system, enhanced safety features, or a fresh coat of paint can increase its appeal and value. Highlight these upgrades in your listing and emphasize the added benefits they offer to potential buyers.

Plan Ahead for New Models:

When new car models are released, the value of older models tends to decrease. If you own a popular make or model, consider selling it before a new version hits the market. By doing so, you can take advantage of the demand for the current model and potentially secure a higher resale value.

Research Release Cycles:

Stay informed about the release cycles of car manufacturers, especially for the make and model of your vehicle. Manufacturers often have predictable schedules for introducing new models or making significant updates. By researching and understanding these cycles, you can anticipate when your car’s value might start to depreciate due to the introduction of a newer version.

Anticipate Changes and Updates:

New car models often come with advanced features, improved technology, enhanced safety features, and better fuel efficiency. These updates can make older models appear outdated, leading to a decrease in their resale value. If you notice that a new model or significant updates are imminent, it might be wise to sell your car before the newer version hits the market. This way, you can capitalize on the demand for the current model and potentially secure a higher selling price.

Consider Supply and Demand Dynamics:

When a new model is released, there is typically an initial surge in demand from eager buyers who want to be among the first to own the latest iteration. This increased demand for new models can impact the market for older versions negatively. As a result, the value of your car may decrease as more buyers shift their focus towards the newer options. By selling your car before the influx of new models, you can potentially attract more buyers and negotiate a better price.

Evaluate Market Perception:

The perception of your car’s make and model in the market also plays a role in determining the optimal time to sell. If a particular model has a reputation for rapid depreciation or becomes less desirable with the introduction of a new version, it might be advantageous to sell your car before that perception becomes widespread. However, if your car’s make and model tend to hold their value well, you may have more flexibility in deciding when to sell.

Assess Pricing Strategies:

Car manufacturers sometimes introduce new models at higher price points compared to their predecessors. This pricing strategy can indirectly impact the resale value of older models. If the introduction of a new model leads to an overall increase in the price range for vehicles in your segment, it could positively influence the value of your current car. On the other hand, if the pricing strategy reduces the cost of the newer model, it may have a negative impact on the value of older versions. Keep an eye on pricing trends to make an informed decision about when to sell.

Personal Financial Considerations:

Your personal financial situation plays a crucial role in determining when to sell your car. If you need immediate funds or anticipate upcoming expenses, selling your car sooner may be necessary. However, if you can afford to wait for the optimal selling time, you might benefit from holding onto your car for a little longer.

Immediate Need for Funds: If you find yourself in a situation where you require immediate funds, selling your car sooner rather than later might be necessary. It could be due to unexpected expenses, a financial emergency, or the need to free up capital for other investments or purchases. In such cases, prioritize your financial well-being and make a practical decision based on your current circumstances.

Upcoming Expenses: If you anticipate upcoming expenses that could strain your finances, selling your car at the right time can help you alleviate the burden. For example, if your car’s warranty is expiring soon, and you expect potential repairs to be costly, it might be wise to sell the vehicle before the warranty ends. By doing so, you can pass on any potential repair costs to the buyer and avoid out-of-pocket expenses.

Transportation Alternatives: Assess your transportation options before deciding to sell your car. If you have access to reliable public transportation, ride-sharing services, or car-sharing programs in your area, you may have more flexibility in selling your car. Consider the availability, convenience, and cost-effectiveness of these alternatives. Selling your car could result in savings on fuel, insurance, maintenance, and parking costs, which can be redirected towards other financial goals.

Future Car Needs: Reflect on your future car needs and whether your current vehicle aligns with them. If you anticipate changes in your lifestyle, such as a growing family or a longer commute, you might need a different type of vehicle. Assess whether your current car meets those needs or if it’s more practical to sell it and invest in a more suitable vehicle. Planning ahead can save you from potential regrets or the need for another car transaction shortly after selling your current one.

Emotional Attachment: Emotional attachment to your car can sometimes cloud your judgment when it comes to selling. While it’s natural to have sentimental value attached to your vehicle, it’s important to strike a balance between emotions and financial practicality. Consider the potential financial gains and benefits of selling your car at the right time, and evaluate whether holding onto it solely for sentimental reasons aligns with your overall financial goals.

When It’s Time To Sell Your Car:

Here’s a breakdown of the typical timeline when selling your car through Carmigo:

List: Navigate to the Carmigo website to begin a listing. Just enter your VIN and follow the instructions until you’ve filled out all the necessary information. Make sure information like your mileage and condition are accurate. Then take a few pictures. After this, Carmigo will take care of the rest.
Sell: At this stage, there is little left for you to do. You can simply sit back and wait for offers to roll in. Perhaps take a stroll or watch your favorite show. Once your car sells, Carmigo will arrange for your vehicle’s pickup.
Get Paid: Once your car is picked up, you’ll get paid. Simple as that. If you have any questions along the way, the Carmigo team is happy to help. With very little effort and time, you can sell a car in an instant with Carmigo.

Sell Your Car Instantly

June 15, 2023 by andrewin Green Light, Tips & TricksLeave a Comment

Sell Your Car Instantly

5 Quick Options

Are you looking to sell your car instantly and avoid the lengthy process of advertising, negotiating, and waiting for potential buyers? Whether you need fast cash or simply want to streamline the selling process, there are several platforms and services that can help you sell your car quickly. In this blog post, we'll explore the top five places where you can sell your car instantly, ensuring a seamless and efficient experience.

Car Buying Companies

Car buying companies have emerged as a convenient solution for those seeking to sell their vehicles rapidly. These companies specialize in purchasing cars of all makes, models, and conditions, providing sellers with a quick and hassle-free process. With a few simple steps, you can obtain an instant cash offer for your car and complete the sale within a day. Some well-known car buying companies include CarMax and Carvana.

Here’s a breakdown of the typical timeline when selling your car to a car buying company:

Online Evaluation: When you submit your vehicle details through the company’s website or app, they will provide you with an instant cash offer. This initial evaluation usually takes only a few minutes or hours.
Physical Inspection: If you accept the cash offer, the car buying company will typically schedule a physical inspection of your vehicle. The inspection can be conducted at their location or, in some cases, they may send an evaluator to your desired location. The inspection aims to verify the information provided and assess the condition of the car. This step is usually scheduled within a few days of accepting the offer.
Paperwork and Payment: Assuming the vehicle matches the description provided, the car buying company will handle the necessary paperwork for the sale. This includes the title transfer, release of liability, and other relevant documents. Once the paperwork is completed, payment is typically issued immediately. Depending on the company’s policies, you may receive a certified check or have the payment deposited directly into your bank account.

Online Classifieds and Marketplaces

Online classifieds and marketplaces offer a vast reach and can attract potential buyers from various locations. Platforms like Craigslist, eBay Motors, and AutoTrader allow you to create listings and connect with interested buyers directly. To optimize your chances of selling quickly, ensure that your listing includes comprehensive details, high-quality photos, and an accurate description of your vehicle’s condition.

Here’s a breakdown of the typical timeline when selling your car through online classifieds and marketplaces:

Listing Creation: To start, you’ll need to create a compelling listing for your car on the chosen online classified or marketplace platform. This involves providing detailed information about your vehicle, including its make, model, year, mileage, condition, and any additional features. You’ll also need to upload high-quality photos to attract potential buyers. This process usually takes anywhere from 30 minutes to an hour, depending on how quickly you can gather the necessary information and upload the images.
Listing Duration: Once your listing is live on the platform, it will typically remain active for a certain duration, which you can choose when creating the listing. The duration can range from a few days to several weeks, depending on the platform and your preference. During this time, potential buyers will have the opportunity to browse and contact you regarding your vehicle.
Inquiries and Negotiations: As potential buyers come across your listing, they may reach out to you with inquiries or to express their interest. You’ll need to respond promptly to these inquiries and engage in negotiations to agree on a price. The duration of this stage can vary depending on how quickly you and the interested parties can communicate and reach a mutually acceptable price.
Test Drives and Inspections: Once you’ve found a potential buyer who is genuinely interested, they may request a test drive or an in-person inspection of the vehicle. This stage involves coordinating schedules and meeting with the interested buyer, allowing them to assess the car’s condition and take it for a test drive. The duration can range from a few hours to a couple of days, depending on availability and convenience for both parties.
Finalizing the Sale: If the buyer is satisfied with the test drive and inspection, they may decide to proceed with the purchase. At this point, you’ll need to handle the necessary paperwork for the sale, including the title transfer, bill of sale, and any other required documents. The duration of this stage can vary depending on the complexity of the paperwork and the efficiency of both parties in completing and exchanging the necessary documents.
Payment and Handover: Once all the paperwork is completed, you can proceed with the payment and handover of the vehicle. The payment is typically made in cash, a certified check, or through a secure online payment method. The duration for this stage can vary depending on the agreed-upon payment method and how quickly the buyer can arrange the necessary funds.

Dealerships:

If you’re looking for a hassle-free selling experience, selling your car to a dealership can be a viable option. While you may not obtain the highest price compared to private buyers, dealerships provide convenience and a quick transaction. Contact local dealerships that accept trade-ins or outright purchases and request a valuation for your vehicle. Remember to research and compare offers from multiple dealerships to ensure you get the best deal.

Here’s a breakdown of the typical timeline when selling your car to a dealership:

Contact and Valuation: The first step when selling your car to a dealership is to reach out to them and express your intention to sell. You can contact the dealership through phone, email, or their website. They will then schedule an appointment for a valuation of your vehicle.
Vehicle Appraisal: At the scheduled appointment, the dealership’s representative will inspect your car thoroughly. They will assess its condition, mileage, features, and any other relevant factors that may affect its value. The appraisal process usually takes anywhere from 30 minutes to an hour, depending on the complexity of the evaluation.
Price Negotiation: After the appraisal, the dealership will provide you with an offer for your car. This offer may be subject to negotiation, and you can discuss the price with the representative. It’s worth noting that dealerships typically aim to purchase cars at a lower price to allow for potential reconditioning and resale.
Paperwork and Payment: If you accept the dealership’s offer, the next step involves completing the necessary paperwork for the sale. This includes signing the title transfer, release of liability, and other relevant documentation. The dealership’s staff will guide you through this process. Once the paperwork is finalized, the dealership will arrange for payment. Payment may be made in the form of a check, direct deposit, or a combination of payment methods.

Peer-to-Peer Car Selling Apps:

Peer-to-peer car selling apps have changed the way people buy and sell vehicles. These apps offer features like vehicle history reports, secure payment options, and assistance with paperwork, making the process smoother and more transparent. Make sure to thoroughly vet potential buyers and prioritize safety when using these apps.

Here’s a breakdown of the typical timeline when selling your car through peer-to-peer car selling apps:

Listing Creation: To begin the process, you’ll need to create a listing for your car on the peer-to-peer car selling app. This involves providing detailed information about your vehicle, including its make, model, year, mileage, condition, and any relevant features or history. You’ll also need to upload high-quality photos to attract potential buyers. The listing creation process can usually be completed within a few minutes.
Buyer Inquiries and Negotiations: Once your listing is live on the app, interested buyers will reach out to you with inquiries and offers. You’ll have the opportunity to communicate with potential buyers, answer their questions, and negotiate the price. The length of this phase can vary depending on the level of interest and negotiations involved. It may take a few hours to several days to find the right buyer and agree on a mutually acceptable price.
Physical Inspections and Test Drives: After initial negotiations, serious buyers may request to inspect the car in person and take it for a test drive. You’ll need to schedule appointments and coordinate with interested buyers to accommodate these requests. The timing for inspections and test drives can vary depending on your availability and the buyer’s preferences. Typically, this phase can take a couple of days to a week.
Paperwork and Transaction: Once you’ve agreed on a final price with the buyer, it’s time to complete the necessary paperwork and finalize the transaction. This includes transferring the title, filling out a bill of sale, and potentially obtaining a release of liability form. The timeframe for completing the paperwork largely depends on your efficiency in gathering the required documents and coordinating with the buyer. It may take a few days to complete this step.
Payment and Handover: Once the paperwork is in order, it’s time to receive payment and hand over the vehicle to the buyer. Payment can be in the form of cash, certified check, or other agreed-upon methods. The timing for payment and handover should be mutually agreed upon between you and the buyer. It’s essential to ensure the payment method is secure and verified before transferring ownership of the vehicle.

Selling on Carmigo:

Here’s a breakdown of the typical timeline when selling your car through Carmigo:

List: Navigate to the Carmigo website to begin a listing. Just enter your VIN and follow the instructions until you’ve filled out all the necessary information. Make sure information like your mileage and condition are accurate. Then take a few pictures. After this, Carmigo will take care of the rest.
Sell: At this stage, there is little left for you to do. You can simply sit back and wait for offers to roll in. Perhaps take a stroll or watch your favorite show. Once your car sells, Carmigo will arrange for your vehicle’s pickup.
Get Paid: Once your car is picked up, you’ll get paid. Simple as that. If you have any questions along the way, the Carmigo team is happy to help. With very little effort and time, you can sell a car in an instant with Carmigo.

How To Get More for Your Trade-In

June 12, 2023 by andrewin Green Light, Tips & TricksLeave a Comment

How To Get More for Your Trade-In

If you're considering trading in your car for a new one, you're probably wondering how to get the most value for your current vehicle. After all, getting a good trade-in value can significantly reduce the cost of your new purchase. But how can you ensure that you're getting the best deal possible? In this blog post, we'll reveal some key strategies to help you get more for your trade-in. By following these tips, you'll be able to negotiate a better offer and boost your overall return.

Do your research

Before stepping foot onto a car dealership lot, arm yourself with knowledge. Research the current market value of your vehicle by consulting reputable online resources, such as Kelley Blue Book or Edmunds. This will give you a realistic estimate of what your car is worth, taking into account factors like its age, mileage, condition, and any additional features.

Utilize Reliable Online Resources:

There are several reputable online resources available that can provide you with valuable insights into the market value of your car. Websites like Kelley Blue Book and Edmunds offer comprehensive databases and tools to help you determine the fair market value of your vehicle based on various factors such as make, model, year, mileage, condition, and location. These resources can give you an estimate of what your car is worth in the current market.

Consider Multiple Sources:

While relying on a single online resource can provide you with a general idea, it’s always advisable to consult multiple sources to get a more accurate understanding of your car’s value. Each platform may have its own algorithms and methodologies for assessing vehicle worth, so cross-referencing the information will give you a better sense of the range in which your car’s value falls.

Adjust for Condition and Features:

Remember that the estimated value provided by online resources is usually a starting point. To get a more accurate appraisal, take into account your vehicle’s specific condition and any additional features it may have. Be honest with yourself about your car’s condition, including any wear and tear, mechanical issues, or cosmetic damage. Adjust the estimated value accordingly to reflect the current state of your vehicle.

Check Local Listings:

Apart from online resources, it’s also beneficial to explore local classified ads, online marketplaces, and dealership websites to see what similar vehicles are being listed for in your area. This will give you a sense of the local market demand and how your car compares to others currently available for sale.

Seek Professional Advice:

If you’re unsure about the market value of your vehicle or find the research process overwhelming, consider consulting with a professional, such as an independent appraiser or a trusted mechanic. These experts can provide you with an objective assessment of your car’s value based on their experience and knowledge of the local market.

Enhance Your Vehicle’s Appearance

First impressions matter, especially when it comes to trade-ins. Take the time to give your car a thorough cleaning, both inside and out. Consider getting it professionally detailed to make it shine like new. Fix any minor cosmetic issues, such as scratches or dents, and replace worn-out parts like windshield wipers or burnt-out bulbs. These efforts will demonstrate that you’ve taken good care of your vehicle, increasing its perceived value.

Give it a thorough cleaning:

Start by giving your car a deep clean, both inside and out. Remove all personal belongings, vacuum the interior, and wipe down surfaces. Pay attention to details like cleaning the windows, polishing the dashboard, and shining the door handles. A clean and well-maintained car gives the impression that it has been taken care of, increasing its value.

Consider professional detailing:

If you want to go the extra mile, consider getting your car professionally detailed. Detailing involves a meticulous cleaning and restoration process that can remove stains, eliminate odors, and restore the vehicle’s shine. A professionally detailed car will look like new, which can have a significant impact on its perceived value.

Fix minor cosmetic issues:

Address any minor cosmetic issues that may detract from your car’s overall appeal. Repair small scratches or dents using touch-up paint or consider consulting a professional for more extensive repairs. Replace any missing or damaged emblems, moldings, or trim pieces. Paying attention to these details shows that you have taken care of your vehicle and increases its aesthetic appeal.

Restore the headlights:

Over time, headlights can become cloudy or yellowed, reducing their effectiveness and giving a worn-out appearance to the car. You can purchase a headlight restoration kit or consult a professional to restore the headlights to their original clarity. Clear and bright headlights not only improve safety but also enhance the overall look of the vehicle.

Upgrade the wheels:

If your car has worn-out or unattractive wheels, consider upgrading them to improve its appearance. A new set of stylish wheels can make a significant difference in how your vehicle is perceived. Ensure that the new wheels are appropriate for your car’s make and model, and consider choosing a size and style that is popular and visually appealing.

Replace worn-out parts:

Take a look at your car’s components and replace any worn-out parts that could negatively impact its appeal. For example, replace old windshield wipers, burnt-out bulbs, or cracked side mirrors. These small repairs show attention to detail and give the impression that your car is in good condition.

Gather Maintenance and Service Records:

Having a well-documented history of regular maintenance and repairs can make a significant difference in the trade-in value. Gather all the service records, receipts, and any warranties related to your car’s maintenance. These records can provide proof that you’ve been diligent in taking care of your vehicle and can justify a higher trade-in value.

Organize Documentation:

Start by collecting all relevant maintenance and service documents, such as receipts, invoices, and service reports. Organize them chronologically or categorically to make them easily accessible and presentable when needed.

Contact Service Providers:

Reach out to the authorized dealerships, independent mechanics, or service centers where you have had your vehicle serviced. Request copies of any missing records. They should be able to provide you with the necessary documents based on your vehicle’s identification number (VIN) or your personal information.

Include Additional Documentation:

In addition to maintenance and repair records, include any warranties, extended service plans, or recall-related documents. These can further bolster the perception of the vehicle’s reliability and value.

Be Honest about DIY Maintenance:

If you have performed any do-it-yourself (DIY) maintenance or repairs, make a note of it and provide relevant information. While DIY work might not carry the same weight as professional servicing, it still demonstrates your commitment to maintaining the vehicle.

Consider Timing:

Timing can play a crucial role in getting more for your trade-in. Try to schedule your visit to the dealership during periods when demand for used cars is high, such as spring or summer, as dealerships may be more willing to offer competitive prices. Additionally, keep an eye on any manufacturer or dealership incentives or promotions that can boost the value of your trade-in.

Seasonal Demand:

Car buying trends often follow seasonal patterns. Typically, demand for used cars tends to be higher in the spring and summer months when people are more inclined to make purchases and embark on road trips. During these times, dealerships may be more willing to offer competitive trade-in values to meet customer demand. Therefore, if possible, plan your trade-in around these seasons to increase your chances of getting a better deal.

New Model Releases:

Car manufacturers typically release new models in specific periods throughout the year. When a new model is introduced, dealerships may be more motivated to clear out inventory and make space for the latest arrivals. This situation can work to your advantage when trading in your vehicle. By timing your trade-in to coincide with a new model release, you may be able to negotiate a higher trade-in value as dealerships seek to increase their used car inventory.

Economic Factors:

Keep an eye on economic conditions that can influence car sales and trade-in values. Factors such as interest rates, fuel prices, and consumer confidence can impact the demand for used cars. During periods of economic uncertainty or high fuel prices, consumers may lean towards purchasing used vehicles, driving up demand and potentially increasing trade-in values. Stay informed about market trends and economic indicators to identify favorable conditions for trading in your car.

Incentives and Promotions:

Stay informed about manufacturer or dealership incentives and promotions that can boost the value of your trade-in. Dealerships may offer special trade-in bonuses or discounts during specific periods to attract customers. These incentives can help you secure a better trade-in value or offset the cost of your new purchase. Research current offers and speak with dealerships to understand any ongoing promotions that may benefit you.

Get Multiple Appraisals:

To ensure you’re getting the best possible offer, don’t settle for the first trade-in appraisal you receive. Take your vehicle to multiple dealerships or independent appraisers and get their evaluations. This will give you a range of offers to compare and negotiate with. Remember, the trade-in value is not set in stone, and you have the power to negotiate for a better deal.

Research Local Dealerships:

Identify several reputable dealerships in your area that accept trade-ins. Consider both new car dealerships and used car dealerships, as they may have different approaches and pricing strategies for trade-ins.

Schedule Appointments:

Call each dealership and schedule an appointment specifically for a trade-in appraisal. Inform them that you’re actively comparing offers from different dealerships to encourage their best evaluation.

Present Your Vehicle Thoroughly:

When you arrive for the appraisal, ensure that your vehicle is clean, inside and out. Provide all the necessary documents, including the title, maintenance records, and any warranties. This will help the appraiser make a more accurate assessment of your car’s condition and history.

Ask for a Written Offer:

Request a written trade-in offer from each dealership. Having the offers in writing allows you to compare them side by side and refer back to them during negotiations.

Evaluate and Negotiate:

Once you have all the written offers, carefully review them, taking note of any significant differences. If there’s a notable variation in value, you can use it as leverage to negotiate with the other dealerships. Approach each dealership and let them know that you have received higher offers and ask if they can improve their trade-in value.

Sell with Carmigo:

When it comes to getting more value for your vehicle, trading it in at a dealership isn’t your only option. An alternative worth exploring is using Carmigo, a convenient online platform that connects car sellers with potential buyers. This approach empowers you to sell your car at a fair value and achieve a better return compared to trading it in at a dealership. Selling on Carmigo takes less than 15 minutes and can be accomplished in a few easy steps. First answer a few questions about your vehicle and provide information like your VIN, mileage, etc. Then, snap a few pictures and set your asking price to list on the marketplace. Finally, sit back and relax as the offers roll in. Once your vehicle sells, Carmigo will pick it up and handle the payment.

You Paid How Much for That New Car?

June 7, 2023 by andrewin Auto, Green LightLeave a Comment

June 7, 2023

You Paid How Much for That New Car?

How Long Will Prices Hold?

Used Car Prices lag even as New Car Payments Top $700 Per Month. But, the market rightsizing after a couple of wild years in the car market.

Used Car Sales Slow even as New Car Payments Top $700 Per Month.

It’s June 2023 and the average new car-payment is more than my first mortgage payment but that’s not slowing sales.

And even with new car prices at an all-time high, used car sales are back on the downslope.

But, what we’re seeing is actually the market rightsizing after the pandemic caused a couple of wild years in the car market.

So, as crazy as the market seems now, this is all ok.

Plus, we’re finally seeing some manufacturer incentives on new cars to help combat the astronomical prices they’re charging.

Before we go any further, here are the cars selling best and worst on the Carmigo Marketplace going into June:

Red Light x Green Light

Green Light

- - Camry
  - Tucson
  - RAV4
  - Soul
  - F150 (half tons)

Red Light

- Mini Cooper
- Pathfinder
- Luxury Sedans
- Cherokee
- Santa Fe Sport and “Sport” Trim SUVS

You can read more about each of these models and why we chose it for the list over at the Red Light x Green Light report.

Overall, Used Car Prices are Stagnant and Sales are Down, But that’s OK

The used car market looks to have continued its return to the mean, which paused briefly this spring.

When we talk about free market capitalism and letting the markets decide, this is that. Markets don’t go up forever. Even Steph Curry misses shots sometimes.

Used sales and prices have held pretty solid over the past few months, considering the volatility in the market since the beginning of the pandemic supply shortages.

Volatility in Used Car Prices

I’ve always lived near the gulf coast, home of oil companies and hurricanes.

After a major hurricane disrupts gas supply, gas prices go up fast. But sooner or later, supply catches back up through a combination of repairing the storm damage and of folks using less gas due to prices.

Going into the Pandemic, in 2020, the manheim index was around 150, steadily rising a couple points most year.

But when new cars stopped being made during the pandemic, used car prices skyrocketed, higher than they’ve ever been. Just like with gas, those numbers are going to end up going back down sooner or later.

And this is a fairly steady return to the mean, which is the best we can hope for.

While no one wants to sell as a market is on the way down, it’s not going back up anytime soon. So if you’ve got to sell a used car, now is as good a time as any.

Average Used Car Prices Higher Than Last Month, Lower Than Last Year

The average used vehicle listing price was $26,969 going into last month, the highest since the beginning of 2023, but that’s still down 4% from last year.

This could be due partially to a preference for inexpensive used vehicles. With vehicle prices near all-time highs, people are reaching for the cheap stuff.

Days’ supply for under $10,000 vehicles was 31. Days’ supply for vehicles priced between $10,000 and $15,000 was 37, between $15,000 and $20,000 was 40 and $20,000 to $35,000 was 44. Vehicles priced above $35,000 had the highest days’ supply at 46.

New Car Sales Outperform Bold Predictions, Even in the Face of Rising Prices

Cox predicted May would see 20% increase in new vehicle sales, and their predictions were beaten. I totally didn’t expect to see new sales to continue going up because of prices and continually increased availability.

But, I’m not the expert, Charlie Chesbrough is. He broke it down in a way I hadn’t considered last month:

“New-vehicle sales will show strong gains this month over last year’s levels, and on the surface, this is a bit surprising. Interest rates are substantially higher than a year ago, as are vehicle prices, and yet sales will increase year-over-year. The reason? Vehicle shoppers now have a much better chance of finding something that fits their needs. Pent-up demand, held back by limited product availability last year, is now being fulfilled as inventory levels improve around the country.”

People couldn’t buy new inventory because it wasn’t available, and now that it is, people are buying the cars they saved up for, even if its way more expensive than it was a few years ago.

“New-vehicle inventory continues to improve, supporting a pick-up in the sales pace,” said Charlie Chesbrough, Cox Automotive senior economist. “Clearly, pent-up demand is being unleashed. How much pent-up demand exists is the question. We still expect sales to slow in the second half as economic headwinds, particularly rising interest rates, grow.”

New Car Prices Can’t Stay This High

I’m still skeptical about how sustainable this trend is because the affordability index is getting a little out of control.

The average list price for a new car is now above $47,000, which brings the average monthly payment on a new car loan to more than $700.

We’re Finally Seeing Some New Car Price Incentives

New car prices may be at record highs, but at least manufacturers are beginning to issue discounts.

The average total incentive is higher than it’s been in the past year, coming in at $1,714 per vehicle.

New vehicle prices are slowly ticking down after reaching all-time highs this winter. But those dips aren’t enough to boost sales, which dropped slightly to just under 1.3 in April.

At the same time, new car inventory has basically returned to pre-pandemic levels, meaning that long waiting lists are no longer propping up new car prices, and manufacturers are introducing incentive pricing.

New car prices will likely continue to ease, but new car sales should continue to benefit from the current highs.

Welcoming Carmigo’s Memphis Dealer Sales Representative, Jennifer Little

Carmigo announces promotion of Austin Hille to Director of Marketing

Carmigo elevates Chris Michael to Vice President of Operations

5 Best Cars to Sell in June 2023

June 7, 2023 by andrewin Auto, Green LightLeave a Comment

5 Best Cars to Sell in June

Carmigo is bringing you the best-selling used cars for June (or at least our prediction). We’ve analyzed trends on our marketplace as well as the general car market and compared those with U.S. economic trends to help you decide if this is the month to sell your car, or if you should consider waiting.

Worst Cars to Sell in June

Mini Cooper
Nissan Pathfinder
Luxury Sedans
Jeep Cherokee
Hyundai Santa Fe Sport

New Car Sales Up Heading Into Summer

It’s June 2023 and new car prices are flirting with all time highs. Combined with increased interest rates, the average monthly car payment in 2023 has officially topped $700.

But prices can’t stay that high forever. In fact, manufacturers are beginning to implement incentive pricing to help ease the burden of buying a new car.

Plus, used car prices are beginning their return to normal (hopefully new car prices will too).

Is this the month to sell your car? Depends, do you have a red light or a green light car this month?

Best Cars to Sell in June

You've Got the Green-Light

Toyota Camry

For the last four months, Camrys have ranked near the top of sales on the Carmigo marketplace. Month over month, we list more and sell more Camrys than nearly any other car.

The reason is simple: You can’t beat the Camry. They hold value well and are always in fairly high demand because of their year-over-year reliability, fuel economy, and safety standards.

Hyundai Tuscon

Hyundai makes great SUVs. In fact, most months a Hyundai SUV has the highest sales ratio on the Carmigo Marketplace. That means we sell most of the Hyundais we list. And lately, the Tuscon has lead the way.

Toyota RAV4

The Toyota RAV4 is one of the models of vehicle we don’t see often (because owners will drive these things until the wheels fall off).

But when we do see someone list a RAV4, it sells fast and it usually gets some solid offers. Because RAV4 fans are fanatics.

Kia Soul

Last month, we predicted the Kia Soul would be a Red Light Car. Boy were we wrong. We listed 7 Kia Souls in May, and we sold them all. In fact, we sold them all for right at market value.

Ford F150

The Ford F150 is America’s truck for a reason. This truck has been selling well, selling in volume, and selling for competitive market prices on the Carmigo Marketplace for most of 2023.

In fact, half-ton pickup trucks overall are dominating the used car market right now, especially the Carmigo Marketplace.

Worst Selling Used Cars

You've Got the Red Light

Mini Cooper

The Mini Cooper sold terrible on the Carmigo Marketplace in May. It sold so bad, that it didn’t sell at all.

We listed a handful and they got a few offers, but nothing very substantial. With the market as high as it is, I have to think cars that are smaller than economy cars and almost as expensive as luxury cars don’t have a strong footing.

Nissan Pathfinder

The Nissan Pathfinder not only didn’t sell, none of the Nissan Pathfinders on the Carmigo Marketplace received an offer last month. I’ve never seen that before. The Pathfinder, like the Mini Cooper, simply doesn’t fit well into such an expensive market. It’s not a luxury vehicle, but it’s not cheap. It’s not a work truck, but it’s not small.

Luxury Sedans

Across makes and models, luxury sedans are depreciating in value faster than other models. This means people who are trying to sell a luxury sedan often have more money in them than they can get back from a buyer. Until the new and used car markets level back out, Luxury Sedans aren’t going to sell better.

Jeep Cherokee

Last month, predicted Jeeps would sell well in May, and they did. But the Jeep Cherokee didn’t sell well in May. In fact, all of the Cherokee trims and models did poorly, including the Grand Cherokee. June probably isn’t going to be a whole lot different for the Cherokee.

Hopefully things will look up after the summer used car market doldrums.

Hyundai Santa Fe Sport

The Hyundai Santa Fe has sold pretty well in recent months. It even came in as a Green Light car in May.

But the Santa Fe Sport trim has done pretty bad on the Carmigo marketplace. Part of this could be because the market is so expensive right now that folks are either going the cheaper route, or going for the full thing. Since the sport model usually sits somewhere in between, it could just be overlooked.

The Best Way to Sell Your Green-Light Car

Shameless Plug: A lot of these price trends are based on the Carmigo Marketplace data. Carmigo is a one-of-a-kind platform that lets private car owners sell their used cars to dealerships.

Note: These predictions are simply that: predictions. We cannot tell the future. They are based on trends we’ve seen in the marketplace but are not a guarantee of future market outcomes.

How To Sell My Car Online: Classifieds & Marketplaces

June 5, 2023 by andrewin Green Light, Tips & TricksLeave a Comment

How To Sell My Car Online: Classifieds & Marketplaces

Selling your car online has become increasingly popular in recent years, offering convenience and a broader reach than traditional methods. With numerous online platforms available, it can be challenging to decide which one is the best fit for you.

In this blog post, we will explore two popular methods: listing on classified websites and utilizing a marketplace platform like Carmigo. By comparing their benefits and features, you can make an informed decision and successfully sell your car online.

List on a classified website

Classified websites have long been a go-to option for selling vehicles online. These websites act as virtual marketplaces, allowing sellers to create listings with detailed information and photos of their cars. Here are some key steps to consider when using classified websites to sell your car:

Research and Choose the Right Platform:

Take the time to research popular classified websites in your region. Look for platforms that have a significant user base and a strong reputation for automotive sales. Evaluate their fees, listing options, and any additional features they offer.

Gather Accurate Information:

Create a compelling listing by providing accurate and detailed information about your car. Include important details such as the make, model, year, mileage, condition, service history, and any unique features or modifications. Be honest and transparent, as this builds trust with potential buyers.

Capture High-Quality Photos:

High-quality photos are crucial in attracting potential buyers. Clean your car thoroughly and take clear, well-lit pictures from various angles. Showcase the exterior, interior, and any noteworthy features. Including photos that highlight the car’s condition can significantly increase interest.

Set a Competitive Price:

Pricing your car competitively is essential for attracting buyers. Research similar makes and models on the platform to gauge the market value. Consider factors such as mileage, condition, age, and any additional features your car may have. Setting a reasonable price will increase the likelihood of selling quickly.

Respond Promptly and Negotiate:

Once your listing is live, be prepared to respond promptly to inquiries from potential buyers. Answer their questions honestly and provide additional information as needed. Be open to negotiation, as buyers often expect some flexibility in pricing. Keep safety precautions in mind when arranging meetings with potential buyers.

Classified Websites:

Craigslist: Craigslist is a widely known online classifieds platform that allows you to list and sell your car. It has a vast user base, making it a popular choice for both buyers and sellers. Craigslist operates in various regions, so make sure to select the appropriate location when creating your listing.

eBay Motors: eBay Motors is a specialized division of eBay that focuses on automotive sales. It provides a broad reach, giving your car exposure to a large number of potential buyers. eBay Motors offers various listing options, including auctions and fixed-price listings, along with robust buyer and seller protection programs.

Facebook Marketplace: Facebook Marketplace is a convenient platform for selling a car locally. It leverages Facebook’s extensive user base and social connections, allowing you to reach potential buyers within your community. You can create listings with photos, descriptions, and even engage in direct communication with interested buyers.

Use an online marketplace

Online marketplaces have revolutionized the way people buy and sell cars. These platforms provide a convenient and accessible way to reach a wide audience of potential buyers. By listing your car on an online marketplace, you can increase your vehicle’s visibility, attract interested buyers, and potentially sell it quickly and at a fair price.

Create an Account and Profile:

Sign up for an account on the chosen marketplace platform and create a detailed seller profile. Include accurate information about yourself and your car. A complete profile helps build trust with potential buyers and increases the likelihood of a successful sale.

Provide Comprehensive Vehicle Information:

Marketplace platforms often provide structured forms for entering your car’s details. Take advantage of this by providing as much information as possible. Include specifications, service history, maintenance records, and any warranty or vehicle inspection information. The more information you provide, the more confident buyers will feel about your car’s condition.

Leverage Additional Features:

Marketplace platforms typically offer additional features to enhance your listing. These may include the ability to highlight your ad, boost its visibility, or provide a Carfax report. Consider utilizing these features to increase your listing’s exposure and attract potential buyers.

Facilitate Secure Transactions:

Marketplace platforms often offer secure transaction options, such as escrow services, to protect both buyers and sellers. Familiarize yourself with the platform’s transaction process and ensure you understand the safety measures in place. Communicate openly with potential buyers, providing necessary documentation and arranging inspections or test drives as required.

Utilize the Platform’s Support:

If you encounter any difficulties during the selling process, reach out to the marketplace platform’s customer support. They can provide guidance and assistance in navigating any challenges you may face. Utilizing their expertise will help you sell your car more efficiently and securely.

Online Marketplaces:

AutoTrader: AutoTrader is a well-established platform specifically designed for buying and selling vehicles. It offers extensive search filters and tools to help buyers find the right car. AutoTrader allows you to create detailed listings with photos and descriptions, attracting potential buyers effectively.
Cars.com: Cars.com is a popular classified website that connects car buyers and sellers. It offers an intuitive interface and comprehensive search functionality, making it easier for buyers to find your listing. Cars.com allows you to create detailed listings with photos, videos, and vehicle history reports.
CarGurus: CarGurus is a popular online automotive marketplace that connects buyers and sellers. It offers a robust search feature, pricing insights, and user-friendly tools to help sellers showcase their vehicles effectively.
Vroom: Vroom is an online marketplace that specializes in buying and selling used cars. It offers a streamlined process, including free vehicle pickup and delivery, to facilitate the selling experience.
Carvana: Carvana is an online platform that allows individuals to sell their cars. It provides an easy and convenient way to get a cash offer for your vehicle and handles the entire selling process.

Marketplace platforms like Carmigo offer a convenient and specialized approach to selling cars online. These platforms bring together buyers and sellers in a streamlined and secure environment.

Here’s how you can list a car on Carmigo:

1.Complete Your Car’s Profile

To start the process, you need to enter some information about your vehicle. This includes your VIN, car make, model, trim, color, and more. You also need to take a few pictures. All this can be done from your phone in less than 10 minutes.

2. List Your Car

Once you’ve completed your profile, you’re ready to set an asking price. You can get suggestions from Carmigo, or you can do your own research and set your asking price on your own. If you opt to set your own asking price, make sure it’s not too low or too high. You can set a good price by doing a little market research on your vehicle.

3. Sell Your Car

After setting your asking price, Carmigo takes care of the rest. Your car is shown their network of dealerships. The Carmigo team handles all the paperwork and all you have to do is sit back and relax. There is a flat $350 sell fee that only applies if your vehicle sells, and you only have to sell if your asking price is met or exceeded. This means there is no risk involved for you. Carmigo also handles the pickup and the payment. You just sit back and relax.

Sell My Truck: When, Where and How

When to Sell My Truck

Where to Sell My Truck

How to Sell My Truck

Easiest Way to Sell My Truck

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5,000 Cars Sold latest in series of achievements for the automotive tech startup

How We Did It

Carmigo Named an Emerging 8 Company

Carmigo Selected for VillageX Incubator

$7 Million Series A Fundraising Round

Thinking About Selling Your Car?

Introducing the Carmigo Inventory Integration Tool

Table of Contents

Welcome to Carmigo Inventory Management

List Your Overage Cars Instantly

Turnkey Solution

How and Where to Sell My Toyota

Table of Contents

Gather All Relevant Documentation

Determine the Value of Your Toyota

1

2

3

Craft a Compelling Advertisement

Negotiate and Finalize the Sale

Should I sell my Toyota on Classified Sites?

Should I sell my Toyota to Dealerships?

Selling Your Toyota on Carmigo:

Here’s a breakdown of the typical timeline when selling your car through Carmigo:

When Should I Sell My Car

Table of Contents

Assess the Market Demand

Consider Seasonal Trends

Mileage and Condition:

Evaluate Maintenance and Repairs:

Plan Ahead for New Models:

Personal Financial Considerations:

When It’s Time To Sell Your Car:

Here’s a breakdown of the typical timeline when selling your car through Carmigo:

Sell Your Car Instantly

Table of Contents

Car Buying Companies

Here’s a breakdown of the typical timeline when selling your car to a car buying company:

Online Classifieds and Marketplaces

Here’s a breakdown of the typical timeline when selling your car through online classifieds and marketplaces:

Dealerships:

Here’s a breakdown of the typical timeline when selling your car to a dealership:

Peer-to-Peer Car Selling Apps:

Here’s a breakdown of the typical timeline when selling your car through peer-to-peer car selling apps:

Selling on Carmigo:

Here’s a breakdown of the typical timeline when selling your car through Carmigo:

How To Get More for Your Trade-In

Table of Contents

Do your research

Utilize Reliable Online Resources:

Consider Multiple Sources:

Adjust for Condition and Features:

Check Local Listings:

Seek Professional Advice:

Enhance Your Vehicle’s Appearance

Give it a thorough cleaning:

Consider professional detailing:

Fix minor cosmetic issues:

Restore the headlights:

Upgrade the wheels:

Replace worn-out parts:

Gather Maintenance and Service Records:

Organize Documentation:

Contact Service Providers:

Include Additional Documentation:

Be Honest about DIY Maintenance:

Consider Timing:

Seasonal Demand:

New Model Releases:

Economic Factors:

Incentives and Promotions:

Get Multiple Appraisals:

Research Local Dealerships:

Schedule Appointments: