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I have a 2004 Mitsubishi colt which used to run really well until last month when its transmission broke(CVT). I spent 3000 dollars to fix it. The car is otherwise pretty decent looking. Even though the car is fixed I would like to sell it off. Can you please suggest me the best way to sell my car. I looked up the AA valuation which shows unto 7000$ for trade in but dealers are quoting 3000 and 4000$ which I feel is lot less than whats the car is worth. Thank you
You will not get as much from a dealer if you are trying to sell the car outright as if you are trading it in on a new model. The AA valuation information takes it's data from the Red Book dealer guide, with the wholesale value being more of a trade in value. Obviously, mileage and condition are very important.
The dealer will have some servicing, touch-up work, and reconditioning to do in order to retail the car, so perhaps the Average condition listed of around $5,000 is a better price guide.
If you are looking to sell privately, on-line is by far the most popular these days, so try AA Carfair or TradeMe. A quick look this morning on-line would suggest between $7,000 and $9,000 would be a fair price as long as the mileage isn't too high.