I have come to the decision to try and 'sell' my car, it would be a lease takeover to be exact. The lease ends July 2016, I have debated on just sucking it up until then and not buy another car to replace it because that seems like the easy route. But I realized I need to get out of my comfort zone and just do it. I also feel with how much I spend on the car on a monthly basis is stopping me from reaching other financial goals. I currently live with my boyfriend and he has a paid off car that can be used if needed. And I can easily go to work by biking on paths or taking the bus.
The car lease payment is $313 with lease protection
Car Insurance $95 (the lowest I could find)
Two parking spaces $200 (one at home and one at work)
Gas approx. $60
So not including any maintenance, that's $668 a month for a car. Makes me sick to my stomach. :(
My question is the process of 'selling' the car to people who come and see/drive it.
I understand how to transfer the car, put ads up but I don't know how to protect myself while trying to 'sell' the car. Do I go with them when they are test driving it? Do you take their license and insurance papers? As I don't have a photocopier, I can't just copy them.
My other dilemma is someone has hit my bumper (3 weeks ago after it got repainted from someone else hitting me...) and since I never saw who did it, it remains to be repainted. With the lease protection this would cover that cost if I were to bring it back July 2016. But I realize in order to sell a product, it must be in good condition. I've debated on just leaving it as is and negotiate with the person who is interested and I would be willing to have it repainted. But I'm concerned that I have it repainted and they change their mind on the car. I just don't want the extra cost if I never find anyone to take the lease over, I guess that's the risk.
Any suggestions/advice would be appreciated :)