how to get rid of a car

There's plenty of advice out there—expert and otherwise—on how to get a good deal when you buy a car.

So when it was clear that my beloved 1999 dark-red Subaru Forester had but a few weeks to live, I started my research, narrowed down my choices and went shopping.

But what about Rosie? My trusty mechanic Frank let me know that in no uncertain terms it was not worth it to fix my car's oil leak.

So what was the best way to get rid of her? I turned to my pals at Edmunds, the online source for all things cars, to help me understand my options when ridding myself of an unwanted set of wheels.

1. Go to a nationwide used-car dealer.

Companies like CarMax and AutoNation are increasingly popular, in part because they're so easy for sellers to use, says Edmunds consumer advice editor, Ronald Montoya. In most cases, you can stop in, get a valuation within an hour or so and leave with a check.

Pros: "These places can save you a lot of time, are easy to use and are guaranteed money," Montoya says.

Cons: You should expect a fair price but not top dollar for your ride, Montoya says.

2. Sell it yourself.

By listing your vehicle on a site like Craigslist or AutoTrader, you are responsible for marketing and selling directly to the buyer. The key is to do your research with Kelley Blue Book's online valuation tool, and check out comparable cars listed on AutoTrader or with the app Vinny, which allows you to scan a vehicle's VIN barcode and automatically get an estimated value. "Be honest about what your car is worth and any problems it may have," Montoya advises. "You will figure out quickly if your listed price is too high—you won't get any inquiries."

Pros: You stand to make the most money this way. Montoya says that with some makes and models, car owners can make $2,000 to $3,000 more by selling it themselves when compared to trading it in at a dealership.

Cons: It entails a lot of work and the risk of getting burned if you accept a bad check. AutoTrader charges listing fees starting at $45.

3. Trade in at the dealership.

Simply trading in your old car at the same dealership where you're buying a newer vehicle is usually the easiest option. The trade-in value can be negotiated as part of the entire purchase package, which will also include the new car's price, taxes, fees and financing terms.

Pros: It's easy and can help you get a better deal on your new car. Plus, in most states, the sales tax on the new car applies after the trade-in credit has been applied. So, for example, if you buy a $15,000 car and get $5,000 trade-in value for your old vehicle, you pay taxes only on the $10,000 balance.

Cons: Again, you will likely get less for your vehicle than if you sell it yourself, especially if your car is more than 10 years old (like my Subaru!), as those vehicles are usually sent to auction.

4. Donate it.

Donating your car to charity has lost some of its allure since 2005 when the IRS changed its rules about how much of a tax deduction you can write off. Before, taxpayers could write off the entire value of the car. Now the deduction is determined by how much the charity gets for the vehicle in the event it's sold.

Pros: It can save you some coin at tax time. The charities will remove the car for free. You'll feel good about yourself, and we both know you can't put a price on altruism!

Cons: Small financial returns and lots of paperwork and follow-up with the nonprofit to document the transaction.

5. Take it to the junkyard.

Some individuals can still sell their old hooptie for scrap metal, Montoya says. If you have a very old car (one that is nearly impossible to repair or does not pass your state emissions or smog inspections), consider calling your local salvage yard. Be sure to call first. There is no guarantee they will take it.

Pros: This can be an easy way to get something for your jalopy. The junkyard will haul it away for free.

Cons: Low profit—usually in the low $100s. You have to admit to yourself that you were driving around in a heap of scrap metal.

After considering these options (I was disappointed that a donation wouldn't be right for me), I negotiated a decent price for my lovely old station wagon. I traded it in for a smoky-blue Subaru Impreza wagon, which my kids named "Raino" owing to his color and the weather on the day we drove him home. My decision to trade in was based on ease, and that I felt I got a good price. Also, I was guilt-free knowing that I had not unloaded my irreparable ride on an unsuspecting driver.