The best way to get the most out of trading your old car is quite frankly doing a private trade. Yes, it's not as simple as doing it with your dealer because you have to run a classified ad on various sources (online, your local newspapers or cars magazines), field the inquiry phone calls and go on test-drive with each and everyone of your potential buyer and of course, the biggest fuss, negotiate! But it could leave you with $1,000-2,000 more than doing it through the dealers. Tempting?

First thing first, find out your car retail value online and use it as a guideline to set a price for your car. The listed car value will probably be high so use your own judgment on how much to settle for. Get your car professionally detailed and obtain a Vehicle History Report, it will cost $75-100 but will make a good impression on buyers. Write a simple classified ad pointing out all the strong points of your car. Also state the car price and your contacts in the ad, you may want to give your phone number or email address but never your home address unless you want strangers showing up unexpectedly asking to see the car. Before you show your car to anyone, make sure all the fluids are at the proper levels. In fact, have your oil changed if you can so it's nice and clean.

Last, after you have settled the deal with your buyer. If you have an outstanding loan on your vehicle, let the buyer pay the bank the balance of your loan so you can get the title to sign over the car to them.

If you are looking to buy a car, I advise you to do your homework. Don't forget to check out our Tips & Auto Value Quotes Review section. We have the best car buying tips.