Six Dashboard Lights You Can Fix Yourself

Six Dashboard Lights You Can Fix Yourself

Don’t worry, it’s easy. 

dashboard lights

Dashboard lights are terrifying because most of us don’t know what they mean. And even the ones we do know, like oil pressure light, we couldn’t begin to fix on our own. 

Check engine? Is it doing alright?

A 2021 survey commissioned by Jiffy Lube reported nearly one-third of respondents ignored their check engine light for more than a month.

To be helpful (and to find out for ourselves) we looked at the most common dashboard warning lights 

 

Oil Pressure

Your engine uses oil to keep everything running smoothly. It acts as a lubricant so all the fast-moving metal parts don’t destroy all the other fast-moving metal parts. 

Likely, you need to add some oil to your engine or change your oil filter. Both are easy enough to do, and ChrisFix does a great job showing you how on their YouTube channel. 

If your filter is clear and your oil is fresh, you may need a mechanic to replace your sensor or oil pump. 

Air Pressure in Tires

This is one of the few lights that actually might go away if you wait it out, but that isn’t always advised. 

Most people have seen their low air pressure light come on during cold mornings. The air in your tires constricts when it’s cold outside and expands when it’s hot. 

If the light is consistent, find an air pump at a gas station or auto shop and fill your tires to the manufacturer’s recommended PSI (find that number on a sticker inside the driver’s door).

You may have a leak if you find yourself refilling your tires regularly. Take care of it soon. Most auto shops can patch a tire fairly easily. 

check engine lightCheck Engine Light

The check engine light has to be the most ominous light. It’s persistent and mysterious. 

The good news: it’s probably just a loose gas cap or faulty air flow sensor and can be fixed quickly and inexpensively. 

Software Engineer II

We are searching for a Software Engineer II to help us enhance and maintain our web app and api. Our engineering team is constantly working to build the tools necessary to support the growth of Carmigo.

The Intermediate Software Engineer will have a unique opportunity to help grow an early stage tech company and will be exposed to our entire tech stack. This position will enhance your leadership skills and push your engineering abilities to the next level.

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Junior Engineer

About the Position: We are searching for a Junior Software Engineer to help us enhance and maintain our web app and api. Our engineering team is constantly working to build the tools necessary to support the growth of Carmigo.

The Junior Software Engineer will have a unique opportunity to help grow a tech company from ground zero and will be exposed to our entire tech stack. We firmly believe that this position will provide unparalleled growth potential for young engineers. This position is not for the faint of heart – A Junior Engineer must be passionate about technology and be driven to make an impact, but if the mentality is there, this opportunity is as good as it gets.

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washer fluid dashboard lightWasher Fluid

Do you see the weird shape with a whale spout coming out of the top? That means you’re out of windshield wiper fluid. It’s probably why your windshield is so dirty. 

This is the easiest fix on the list. All you need is a bottle of wiper fluid from your local auto-parts store and a minute or two. Under your hood is a reservoir (that looks like a white plastic bottle). It has a similar whale spout image on the cap. Fill it with the bottle of wiper fluid and you’re done. 

Good job. Now clean your windshield. You’ll be amazed at how much clearer you’ll see. 

battery dashboard lightBattery

The battery light means your electrical systems aren’t receiving enough juice. This could mean you need to clean the corrosion off your battery or replace it altogether. Luckily, the employees as just about any auto-parts store will put your new battery in for you, and multiple brands offer an array of options based on your budget and performance needs. 

brake lightBrake

Here is where the dashboard lights start to get scarier. This light could be like a brake pedal or a red exclamation mark and it can mean a number of things, but each one should be dealt with promptly. 

  1. Check your brake lights and replace any that are faulty or burned out.
  2. Your parking/emergency brake is engaged. They can cause some problems if you’re trying to drive, so make sure it’s not on while moving.
  3. Low brake fluid can cause extra heat and friction in the breaking process, causing the parts involved to break.

As simple as a brake light may seem, without them you greatly increase your risks of being hit from behind. You can easily fix this one yourself, and Erik the Car Guy has a simple guide.

 

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Five Easy Car Repairs You Can Do Yourself

Five Easy Car Repairs You Can Do Yourself

You won’t even have to put your car on a jack for these easy car repairs.

easy car repairsPhoto by shixart1985 (CC BY 2.0)

If your car broke tomorrow, would it ruin your week? Us too. And the saddest part is, most of us couldn’t even begin to fix our cars. But what if there are some easy car repairs you can do yourself?

Cars are the thing most of us use the most and know the least about. 

We’ve got some great news! Many of the repairs we dread are actually easy car repairs. Some you can easily do in your driveway, most for under $100. 

Use a Code Reader

We rarely know what our check engine light means, and that’s precisely what makes it so terrifying. But for $50 or less, you can purchase a code reader and get answers from your phone. 

And most of the problems that trigger the check engine light are inexpensive, easy fixes, and we even made a guide for fixing them.

Replace Your Wiper Blades

Do your windshield wipers almost make it harder to see? Do they drag and squeak?

Your local auto parts store knows exactly what type of wiper your car uses, and you can spend as little as $10 and 10 minutes replacing them. And the kind folks at the parts store will probably even replace them if you ask nicely. 

Repair a Dim Headlight

Often dim headlights are caused by a dirty headlight cover. And over time, the sun can cause the plastic in the headlight cover to oxidize, making it hard for the light to pass through.

The Toothpaste Fix

My mother-in-law swears you can fix dim headlights with toothpaste and a microfiber cloth. It sounds crazy, but it works. First, clean your headlight with soap and water. Then, carefully rub a small amount of baking soda toothpaste into the light cover. Once you’ve scrubbed the entire surface clean, you can apply a clear sealant as a protective coat.

DIY Kits

You can also purchase a headlight restoration kit from most auto-parts stores, which includes a step-by-step guide to returning your headlights to their former glory.

Replace Headlights

If your headlight cover is crystal clear, your dim headlights are probably a sign you need to replace the bulbs. 

Headlight bulbs are often less than $50 and, with new LED technology, can last for as long as your car.

Replace Engine Air Filter

This fix will make driving a little easier and save you money at the gas pump. 

This video from Toolbox Divas breaks the process down step by step. 

Here’s the best part: You can buy a new engine air filter for less than $10 in many cases. 

Your engine should run smoother, use less gas, and have lower emissions. 

Clean Corrosion From the Battery

A corrosion build-up on your battery terminals can keep your car from starting and cause inconsistent driving performance. 

But you can fix this with some baking soda and a toothbrush. 

First, make sure your car is all the way off. This is VERY important. You don’t want any electricity flowing.

Now disconnect the negative ( – ) battery terminal. Then disconnect the positive ( + ) terminal. 

Mix hot water and baking soda, and use the solution and toothbrush to scrub any corrosion from the terminals. Finally, clean with a towel and cold water, and fully dry before reconnecting the wiring. 

Replace Your Battery

If a solid scrubbing didn’t bring your battery back to life, you could replace it quickly. This can cost more than $100, making it the most expensive chore on the list, but it is just as simple as cleaning your old battery. 

Turn off your car, disconnect the battery (negative terminals first), and remove the old battery. This may also involve unscrewing a protective plate that keeps the battery in place. 

Then, plot the new battery in, hook everything back up the way you found it, and voila, it’s as good as new. 

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What’s Up With My Check Engine Light?

What’s Up With My Check Engine Light?

check engine light

Five Simple Fixes For that Pesky Check-Engine Light.

How long has your check engine light been on? Did it come on this morning? Has it been glaring at you for two weeks? Have you played hide and seek with it for the last two years? You can’t wait out that check engine light forever.

We’ve got good news. It’s probably not as severe or expensive as you think. Especially not if you act now. 

Loose Gas Cap

It is possible that you just need a new gas cap. Emissions monitoring systems can trigger the check engine light. A loose or broken gas cap can emit fumes or allow more air in, increasing emissions and decreasing fuel efficiency.

The best news is that a gas cap is inexpensive to replace, can be done by almost anyone, and will ultimately save you money at the gas pump.  

This explainer from AutoZone makes it even easier:

Oxygen Sensor

A faulty oxygen sensor has similar implications as a loose gas cap — reduced fuel efficiency and increased emissions. A broken sensor can also cause your engine to misfire and stall. 

This is a little bit harder to replace. Still, with a special socket (less than $10 at Harbour Freight) and a new oxygen sensor from the local auto parts store (under $100 in some cases), most people with some mechanical knowledge and access to YouTube can handle the job.

Airflow Sensor

The mass airflow sensor is a lot like the oxygen sensor — but different. The airflow sensor monitors air during the fuel intake process, while the oxygen sensor monitors the air in the emissions process. 

You can often purchase these sensors for less than $50, and the friendly folks at O’Reilly Auto Parts even made a step-by-step video for cleaning and replacing yours.

Spark Plugs 

Spark plugs are tiny and inexpensive, but they have an outsized impact on your car’s performance. They are the spark that lights the fire of your combustion engine. Without that spark, your car doesn’t drive. 

When they begin to wear and go bad, your car will feel rougher when idling and begin misfiring when you try to start it. 

You can purchase a new set of spark plugs for as little as $20, and with a socket wrench, some pliers, and a little bit of time, you can do it yourself. 

This guide from the Family Handyman will make the whole process even more accessible. 

But if you don’t want to do that, your local mechanic should be able to help you for $200 or so. 

Exhaust Gas Recirculation Valve

This is another $20 and a couple of hours project if you’re decent with wrenches or valves. There are even some reputable guides like this one from New Parts

But your mechanic will gladly do it for $300–$400. 

Catalytic Converter

This is the biggest concern for your check engine light, but catalytic converters usually last more than ten years and 300,000 miles. 

Here’s an almost surefire way to tell if your catalytic converter is triggering your check engine light: Does your car exhaust smell like rotten eggs? A failed catalytic converter will also noticeably decrease your car’s acceleration. 

Can you replace this yourself? Sure, but only if you’ve got a jack and a great deal of comfort underneath a car. Likely, you’ll have to spend $2,000 or more at your local auto repair shop. 

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What Price Should I Sell My Car For?

What Price Should I Sell My Car For?

What Price Should I Sell My Car For?

There’s a lot to consider, but let’s start with what you want to make.

What price should I sell my car for? This is the worst part about selling anything — setting the price. 

Every dollar helps, but you don’t want to charge too much and look foolish, or worse, not even sell your car. But you don’t want to get taken advantage of either. 

How Much Do You Want to Make

Let’s start with an easy number. How much money do you want to make? A lot, right? 

Pick a number that feels realistic but also helpful. Now, keep in mind that in most cases this number is higher than what is realistic in the marketplace (but it’s ok to dream big). 

A good question to ask yourself is, “I know it’s not as much as I want to make, but if I could pocket  $_,___ from this sale, I would walk away happy.” 

Now let’s consider some other numbers before coming back to his one. 

How Much Is My Car Worth?

You can use an online estimate tool to get an idea based on model, trim, age, and mileage. There are plenty of these tools online, and most are similar with their pros and cons. 

Many factors play into this estimated value, which you can read about in our Green Light post.

How’s The Market

As of writing this, the market is at an unprecedented high. We’re seeing some newer SUV and truck models selling for more than they were initially worth new.

These models are in such high demand that there are waiting lists for the new models. Because of the lack of supply, many buyers are willing to pay more for a similar model used model.

But, as new car production continues to tick back up, used cars will be in lower demand and fetch lower prices. 

Is Your Car Priced to Move?

Carmigo is an auction platform that is designed to bring a network of dealerships to you instead of requiring you to shop your car from lot to lot. 

Because an auction requires each new offer to be higher than the last, attracting more bids means attracting more money. And a lower starting price attracts more bids. 

Consider auctioning your car, and setting the initial price lower than you would if you were selling it privately. Because of the persuasive factors involved in auctions (which you can read about here), buyers are also more likely to bid on listings that already have lots of bids, so setting the price low can actually trigger a higher sale price. 

What Price Should I Sell My Car For?

Now that we’ve considered your car’s value, the market trends, and the initial offering price, you have a better idea of what you can realistically expect to sell your car for. 

Let us know when you’re ready to start a bidding war on your car and try to get you to that “dream big” number. 

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The Best Time to Sell Your Car

The Best Time to Sell Your Car

If You Sell Today, Will You Get the Best Price?

To determine the best time to sell your car you need to consider two elements: your equity and the used car marketplace. 

The Best Time to Sell Your Car

Basically, you get more money when your equity is higher and the market is hotter. But the real trick is finding the time when those two elements are working together. 

If the market is hot, but you still owe a lot of money on your car loan, you may not make as much as you will once the market has cooled down and you’ve paid down the note. 

Sometimes the market is so hot that equity doesn’t matter. Like this year. So far in 2022, people have been able to sell their used cars for more money than the original “new” sticker price, which is almost unheard of.

How to Read the Market

Kelley Blue Book serves as a great reference point for understanding your car’s value. But to understand the best time to sell your car, it’s helpful to be able to plan ahead by identifying market trends. 

And the KBB estimate can lag behind the marketplace from time to time. Often, when market conditions change, sellers are the last to know. So keep that in mind when using estimate tools. We don’t want you to have unrealistic expectations for your sale, or worse, sell your car for less than market value. 

Average Car Sale Prices

If you’re going to sell your car, you want to make sure you’re getting a competitive price. So take a look at what other similar cars in your area are being bought and sold for.

Supply and Demand

When buyers have lots of cars to choose from, they can pay less. And when sellers have lots of cars they need to sell, they’re willing to sell for less. When there are fewer cars, buyers are less picky and sellers can charge more. 

In addition, a reduction in new car supply can cause an increase in used car demand (which can then reduce used car supply and increase used car prices).

How to Determine Equity

Equity is the value of your ownership stake in an asset. More simply, how much you can get paid for something you own. 

So once you’ve estimated your car’s value in the current market, you can subtract any loans or liens from that amount to find your equity. 

What Do You Owe on Your Car Note?

Call the bank that holds your auto loan and they’ll be able to tell you exactly how much you’ll owe if you pay in full. You may owe extra fees for early payoff.

Since your lender is likely holding the title to your car until the loan is paid in full, you’ll need to pay this off immediately when selling your car. 

Other Considerations?

Are there any other liens against your car? For instance, did you use your car to secure a personal loan from your bank or a cash-for-title loan? In the same way you checked your car note’s payoff amount, see how much it will cost you to pay off these loans. These will also have to be paid when you can sell.

Now add up everything you owe, and subtract it from your estimated sale price like so:

Estimated Market Value – (Car Note + Lien) = What You’ll Make

And there you have it, how much you could make if you sell your car today. 

The Best Time

The reason we look at the current marketplace instead of a traditional estimate of your car’s value is so we can project into the future. 

If your final price is lower than you want, see what the market trends are. If new car manufacturing is up, and used car prices are starting to fall, it may be time to sell. 

However, if you see used car demand is going higher, make a few more payments and see if you can squeeze a few more dollars out of your car. 

Shameless Plug: Either way, when you’re ready to sell, we’ll make it easy.

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How Much Is My Car Worth?

How Much Is My Car Worth?

From the mileage to the marketplace, there’s a lot to consider.

How much is my car worth? That’s the age-old question. Well, maybe not. But it’s certainly the question most of you Googled to get here.

How much is my car worth? Let's find out.

Chevy II For Sale” by Hugo-90 is licensed under CC BY 2.0

Your car’s worth comes down to what someone is willing to pay for it. And to determine that number, we have to consider the purchase price and estimated value of your car, your car’s condition, mileage, the used car marketplace, the availability of similar vehicles in the new car marketplace, and even where you plan to sell your car. 

But that’s not all. You have to also determine how much equity you have in your car to get an idea of how much money you’ll make (which we also explain in detail in the equity post below). 

Let’s get into it. 

Value

From your purchase price, consider that your car loses about 10% of its value the moment you drive it off the lot — the moment it becomes a “used car.” And then it loses another 10% or so when the warranty expires. From there, the car will depreciate each mile and each year, little by little. 

You can use an online estimate tool to get an idea based on model, trim, age, and mileage. There are plenty of these tools online, and most are similar with their pros and cons. 

Mileage

When your car has more than 100,000 miles on it, buyers will be more critical than when it has 30,000. Something that is a minor concern at 30,000 miles seems more like impending repairs at 100,000 miles. 

But car owners typically owe more on their car than they can sell it for early on. If you sell a relatively new car, you may get a higher price but be upside-down on your loan. Plus, you wouldn’t get much use out of the car.

Condition

Buyers don’t want to pay market average prices for bargain-basement cars. Most people don’t want to buy a car with lots of dashboard warnings or cosmetic damage, even if it’s in high demand. 

But, we do have a list of repairs that are a cheap and easy way to put some value back into your car.

The Market

This is where sellers have an opportunity to make extra money on a used car sale. Depending on your flexibility, you can sell when your car is most in demand by watching the marketplace. 

As of writing this, we’re seeing some newer SUV and truck models selling for more than they were initially worth new. These models are in such high demand that there are waiting lists, and many buyers are willing to pay for a similar model from a previous year.

But, as new car production continues to tick back up, used cars will be in lower demand and fetch lower prices. 

How Much Is My Car Worth?

Now that you’ve established your baseline car value and then adjusted it based on condition, mileage, and marketplace trends, you’ve got a pretty good idea of what your car is worth. 

If you want to take things a step further and figure out how much money you’d make on a sale, you can subtract any loans, liens, and payoff fees from your estimate. 

We outline the equity equation further here.

If you’re curious about selling your car, you can always list it for free on Carmigo.

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When Should You Sell Your Car? Maybe It’s May.

When Should You Sell Your Car? Maybe It’s May.

Carmigo’s May Used Car Market Watch

The May used car market seems to be just as hot as it was in the previous months of 2022. 

May Used Car Market Watch

The average sale price for both new and used cars is still rising, but for how much longer? Is it the right time to sell or will prices jump again? If you sold your car today, could you afford to replace it? 

Let’s get into it. 

Average Prices?

Car Gurus has the average used car sale price at $30,819, up 0.34% over the past 30 days,+0.25% over the past ninety, and +21.56% since last year. 

And after a brief dip, the average new car price was $46,526 in April, a nearly $200 increase over march and more than a $5,000 increase over last year (according to KBB).

But that KBB report came with some good news for buyers interested in an electric vehicle. Because manufacturers are making more and more EVs, prices have begun going down. The average EV sale price dropped more than $1,000 from March to April. 

Are prices trending up or down?

Up. They’re still going up. 

How to watch the market link

A report from KPMG predicted the used car market could collapse later this year. But their estimate that the average sale price could drop by 30% means prices are still higher than pre-pandemic levels. And that report came out late last year, so prices have already remained high longer than expected.

Other industry experts are saying manufacturing supply and used car prices don’t normalize until 2025.

May Used Car Market Contributing Factors

The factors have pretty much stayed the same since our March market report.

Used cars are still experiencing heavy demand due to a shortage in new car manufacturing. And while most manufacturing facilities are currently operating on schedule, the market hasn’t recovered from two years of manufacturing shutdowns, supply chain disruptions, chip shortages, and unexpected global trade issues—not to mention a war. 

Additionally, the tax deadline has passed and the IRS is issuing refunds every day. Auto Remarketing reported a large chunk of survey respondents planned to use their tax refund on a car. That means even more buyers in an already-crowded marketplace.

What’s this mean for you?

If you have a car that you don’t need, it’s time to sell. You have cash sitting in your driveway. 

On the other hand, replacing a car isn’t as easy as selling one in the current market. 

But here’s the good news: You may still be able to sell your car, buy a new one, and come out ahead. 

Overall prices are up, but used car prices have outpaced new car prices since the start of the pandemic by a large margin. That means you may be able to get way more for your used car and only pay slightly more for a new car. 

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How to Read the Used Car Market

How to Read the Used Car Market

how to read the used car market

How much does a used car even cost these days?

If you want to buy or sell a used car, it’s important to know your car’s fair market value. And to know your car’s fair market value, you’re going to need to know how to read the used car market. 

Certainly, Kelley Blue Book serves as a great reference point. But it’s helpful to be able to plan ahead by identifying market trends. And the KBB estimate can lag behind the marketplace from time to time. Often, when market conditions change, sellers are the last to know. So keep that in mind when using estimate tools. We don’t want you to have unrealistic expectations for your sale, or worse, sell your car for less than market value. 

Plus, following even one of these factors can go a long way toward buying or selling your car at the right price and time. 

Average Car Sale Prices

If you’re going to sell your car, you want to make sure you’re getting a competitive price. So take a look at what other similar cars in your area are being bought and sold for.

via GIPHY

Plenty of resources can help you determine the average sale price of new cars, used cars, car types, and car models. We’d name a few here, but the honest truth is, typing “Average car sale price,” into a search engine and then reading three or four of the summaries is the best way to get a broad picture of the market. 

A lot of folks assume this number is constant because cars have a set sticker price, but what buyers actually pay is almost always different.

But why? Let’s get into it. 

Supply and Demand

how to read the used car marketHere’s my go-to example: Imagine you are in a swimming pool on a fairly cool afternoon sipping from a big cold bottle of water. A water salesman approaches. Would you even pay $0.25 for that water? I wouldn’t.

Now imagine you’re crawling through a desert in a thick burlap shirt with nothing but a bag of Hungarian Wax Peppers and a wad of $20 bills. A water salesman approaches. How much do you pay for that water? 

When buyers have lots of cars to choose from, they can pay less. And when sellers have lots of cars they need to sell, they’re willing to sell for less. When there are fewer cars, buyers are less picky and sellers can charge more. 

In addition, a reduction in new car supply can cause an increase in used car demand (which can then reduce used car supply and increase used car prices).

But why are there more cars sometimes and fewer cars other times? 

Supply Chain

This is a factor the average consumer doesn’t typically need to pay attention to. But after the last few years, we shouldn’t take anything for granted.

Any number of things can cause new car manufacturing to slow down. 

Here are a few purely hypothetical examples of factors that can derail the supply chain: 

  • A global pandemic that causes factory shutdowns 
  • A war that diverts auto parts 
  • A fuel shortage
  • A microchip shortage
  • A shipping pile-up that slows down global trade. 

But those are just hypothetical.

Any of the above problems can take a long time to correct, so they cause large ripples in the new and used car markets. Like we said above, the fewer new cars available, the greater the demand for used cars. 

When to Buy or Sell?

Simply put: You want to buy where there are lots of available cars and sell when there are few. 

The best time to sell is when your car is in most demand. And the best time to buy is when the car you want has plenty of supply. 

While those may be the market sweet spots to buy and sell, they may not be the sweet spot in your current life circumstances. Now that you know how to read the used car market, you can keep an eye on trends to find a time and price that work for you. 

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How to Determine Equity in Your Car

How to Determine Equity in Your Car

How to Determine Equity in Your Car

How Much Money Can You Make if You Sell Your Car?

Do you ever wonder how much money you would make if you sold your car today? To know that, you’ll have to determine how much equity you have in your car. Your car’s value, and how much money you’d make if you sold it are two different things. Let’s start with a definition.

Equity: It’s the value of your ownership stake in an asset. More simply, how much you can get paid for something you own. 

So let’s find out how to determine equity in your car.

What’s It Worth?

First things first, we need to find out how much your car is worth. This is easy enough to do on a number of websites, like Kelley Blue Book.

What Do You Owe on Your Car Note?

Your loan payoff amount could be higher than your loan balance depending on interest and early payoff penalties. Call the bank that holds your auto loan and they’ll be able to tell you exactly how much you’ll owe if you pay in full.

Since your lender is likely holding the title to your car until the loan is paid in full, you’ll need to pay this off immediately when selling your car. 

Other Considerations?

Are there any other liens against your car? For instance, did you use your car to secure a personal loan from your bank or a cash-for-title loan? In the same way you checked your car note’s payoff amount, see how much it will cost you to pay off these loans. These will also have to be paid when you can sell.

How to Determine Equity in Your Car

Now for the math, but don’t worry. This is one of the easiest math problems you’ll ever have to do. Add up everything you owe, and subtract it from your estimated sale price like so:

Value – (Car Note + Lien) = Equity

If your car is worth more than you owe, congrats. You’ve got equity in your car, which means you’ll have money left over after the sale. 

With a little bit of saving you may be able to sell your car and pay all your loans in full just in time to shop for a new one. Or you may want to wait until you’ve made a few more monthly payments. 

Shameless Plug: Either way, when you’re ready to sell, we’ll make it easy. 

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Auction, Sell, or Trade, What’s Best for You?

Auction, Sell, or Trade, What’s Best for You?

Auction, sell, or trade, what works best for you?

When it’s time to sell your car, should you auction, sell, or trade?

Every seller is different, and every seller has different needs, so let us help you decide if you should auction, sell, or trade your car.

Auction

Pros

Real-Time Results
The most exciting part of an auction is watching the bids come in, each new bid higher than the last. The real-time nature of an auction also means you’ll get definitive results in a predetermined amount of time. No more guesswork about when you’ve found the right buyer, and you will see how much demand there is for your car right away.

Less Paperwork
Because an auction employs a third party to handle the sale (the auctioneer or auction platform), they’re also going to do some paperwork. And if you use Carmigo, we’ll handle all the paperwork — title, loan payoff, transportation logistics, and any other hassle. 

Better/Fairer Price
Because auctions have multiple bidders making offers in real-time, the marketplace will typically provide a higher price and, at the very least, a fair price. We’ve written about the ins and outs of auctions on the blog, but basically, it’s because of a combination of a larger marketplace, a diverse set of needs, and the built-in competition. 

Cons

Less Hands-On
Because a third party is handling the auction, they’ll be setting a lot of the terms of the sale. That doesn’t mean you don’t have any control (you’ll likely set the price and decide when or for how much your car sells). 

Includes Fee
Auctions charge a fee for their service, but if you find the right one (ahem, Carmigo), you’ll only have to pay a flat fee of $350 after the sale. 

Sell

Pros

You’re in Charge
This could be a con, depending on your comfort level with private sales. But when you sell your car on your own, you set the terms and control the sale. You’re in control.

Opportunity to match auction prices
Depending on your skills as a marketer and negotiator, you could attract just as many offers and sell for a price comparable to what you would get at an auction.

Cons

Strangers
Have you ever sold something on craigslist or Facebook Marketplace? There is typically a flood of demanding messages: “Will you take less?” “Is this available? Pls respond now?” “What’s your bottom price?” “Will you trade for a generator and a weight bench?” 

Plus, they’ll want to come to your house and maybe even take it for a test drive. It’s uncomfortable, not fun, and many sellers feel unsafe in these situations. It makes sense when tens of thousands of dollars are at stake in many cases. 

Bartering
The back and forth of bartering over something you’re selling online or otherwise is exhausting (or thrilling for some). 

Time Consuming
Between making signs, posting ads, fielding messages, scheduling visits, bartering, and all the paperwork, selling your car privately takes a lot of time. And that’s even if it sells fast. 

Dealership Trade-In

Pros

Immediate
We’re not going to lie, taking your car to the dealership and being able to part with your used car immediately can be a blessing. And that’s especially true if it’s a car you’ve wanted to rid yourself of for a while.

Credit Toward New Car
Getting a trade-in means you’ve got automatic money down on your new vehicle without additional transactions. 

Convenient
Being able to drop your old car off and drive away in a new one is undeniably convenient. In some cases, it may even be worth the reduced value you’ll get in return for your car. 

Cons

Less Money
Typically, dealerships can offer less money on a trade-in because they know how convenient it is. After all, you’re already on the lot. And it’s not like you can drive two cars home. 

One Buyer, One Price
If you’re only getting one offer, chances are it’s not the best offer the marketplace has to offer. Honestly, it’s probably not even the average. Having one offers means your price is based on the needs of one dealership, not the larger marketplace. 

Bartering
Spending time at a dealership means spending time in the back and forth. How often does the dealer have to “ask the big guy” if he can offer more before you second-guess your decision? 

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