Make an honest assessment of your old car and what it needs in the way of repairs. If your car is a worn-out heap, you'll probably decide that it isn't worth the trouble of fixing it up and selling it yourself; you'll either donate it to a charity or take whatever you can get from the new-car dealer and be done with it. But if your car is in good shape, a recent model, and you want - or need - to get top dollar for it, you should have a marketing plan. As anyone on Madison Avenue will tell you, a successful sale involves the right packaging, the right price and the right advertising.

• Fix it up. A cream puff will not only command the highest price, it'll be easier to sell. If relatively inexpensive items aren't working, fix them. Small dings or star breaks in windshields can often be fixed for less than $50, without replacing the windshield. Small dents can be removed inexpensively with "paintless" dent-removal procedures. Important safety features - brakes, lights, wipers, tires - should be in good working order. But it probably won't make sense to rebuild an old car's engine for $3,000; you'll never recoup the money.
  
  Once you've made minor repairs to your car, it's time to turn your attention to its cosmetics. It's amazing, but buyers will often overlook mechanical ills if the paint shines and the interior seems fresh. Conversely, a vehicle in good mechanical shape but with a ratty appearance will usually turn off buyers. So by all means, spruce up your old car, even if you've decided to trade it to the dealer. A good detailing job - one that includes the engine compartment - can be worth its $100 or $150 cost several times over.
• Set the price. When you've transformed the old buggy into a "meticulously maintained" motorcar, you'll need to attach a price to it. If you've decided to trade, you'll want to know if the dealer is offering you a fair price. If you've decided to sell it yourself, you'll need a fair asking price. Recall those two prices mentioned earlier, low and high book value. Expect the dealer to give you low book value. High book value is what the dealer will ask for the car once it's on his lot. It's the value of a car that's been reconditioned and comes with a warranty - something that you, as a private seller, won't usually be able to offer a buyer. As a private seller, you should ask a price somewhere between low and high book value.
  
  Ah, but where do you find these values? Many sites on the internet provide used-car values, including IntelliChoice.com. The best sites will require you to be very specific about your car, including its condition, mileage and equipment. Mileage can make a big difference in value. A car that is several years old with only 25,000 miles on the odometer could be worth almost $2,000 more than the same car with double the miles.
  
  But keep in mind that these "book" values provide you with only a general pricing framework. What truly matters are prices in your local market. Visit our classifieds section to determine what similar cars are being offered for in your geographical area.
• Write an advertisement. If you've decided to sell the car yourself, the next step is to write an enticing ad. Include the brand name, the year, the model and any important features - such as leather upholstery or four-wheel drive. If the miles are low for the car's age, if you're a non-smoker, or if you can supply all the car's service records, you may want to mention those points, too. If there's space in the ad, note the car's color. Always include a price, even though you're willing to negotiate. Take a quality photo of your car; that always enhances an ad's appeal. Place the ad in your local newspaper, the tabloids like the Auto Trader or Recycler, or on one of the many internet sites that offer classified advertising.
• Handle buyers. Once the calls or email messages start coming in, be prepared to answer questions from potential buyers. Don't lie or misrepresent the car in any way, either verbally or in your advertising. In private-party sales, most state laws assume the car is being sold "as-is" with no warranty. But if the seller makes statements about the car that turn out to be lies, the buyer could have a winning case in court for the cost of the repairs or for return of the purchase price. On the other hand, this doesn't mean you have to volunteer every possible problem. Unless you're certain that the odd noise you sometimes hear means that the transmission is shot, don't mention it. Just answer questions honestly and to the best of your knowledge.
  
  Dangers, unfortunately, lurk in our modern society. Take a few precautions when prospective buyers come to test drive your car. Schedule meetings during daylight hours and when family members or a friend can be with you at your home. Ask the prospective buyer for identification - a driver's license, at least. Write down the information and leave it at home when you go on the test drive. Don't let anybody drive the car without you, and have your friend or family member accompany the two of you if you have doubts about being in a car alone with a stranger.
  
  A serious - and prudent - buyer will want to have the car checked out by a mechanic. As long as the mechanic is not too far away, as long as you drive the car to the shop, and as long as the buyer pays for the inspection, that's a reasonable request. It could also protect you from potential liability should the buyer later accuse you of not disclosing a problem. But before you allow an inspection, agree to a sales price contingent on an acceptable inspection. Or, ask for a deposit that's refundable only if serious problems are found during the inspection and if you decline to pay for the repairs or reduce the sales price.
• Close the sale. In closing the sale, write out or print from a computer a formal receipt that says, "This car is sold AS-IS, with no warranty, explicit or implied." Put both party's names and addresses on the receipt. Put the year, make and model of the car on the receipt, as well as the Vehicle Identification Number (VIN), the mileage, and the time and date. Both parties should sign the receipt. Give one copy to the buyer and keep one for your records.
  
  As for payment, do not accept anything except cash or a certified bank check. If it's a certified bank check have the buyer meet you at your bank, where your banker can examine the check and accept it for deposit; certified checks can be forged and they can be subject to stop-payment. Only then should you sign over the title and hand over the keys to the car.
  
  You should also visit your state's Department of Motor Vehicles (or its website) and see if you need to perform any other duties, such as supplying a valid smog certificate. Be sure to obtain, complete and send in any forms required for you to release your liability for the car after the sale. Otherwise, you could be held responsible for parking tickets or traffic violations if the buyer neglects to promptly re-register the car. Finally, inform your insurance agent that you no longer own the car.