If you have been thinking about selling your car easy for quite some time, then you must have done the primary research that would help you sell off your car in a lucrative deal.
However, if you are completely new to this process, it can be a stressful yet a great learning experience for you. Once you decide to toss off your car, you get in a position that’s both defensive and offensive. Thus, it’s crucial to plan every move strategically to lock the best deal out of it.
There are various ways to turn a used car into great cash. To help you with a similar transaction, here’s everything you need to know about the car-selling process.
Do your homework
The more you know about your car, the better deal you will be able to lock. Knowledge is everything here. It can make or break your car sale. So start learning about your vehicle. This could seem like a lot of work, especially now, when you are giving it away. So, not having that information will affect the overall deal.
We have a few tips on what you should know:
- Make, model, year, factory pain color, VIN date of manufacture
- Complete recall of additional work done on the car
- Know about the common problems related to the car. Get them fixed beforehand
- Is there an engine related issue? How large is it?
- Fuel average of the car
- The condition of your vehicle and how you can fix it
- The average price of your car in the market
Unless you have a very special or unique car, there’s a chance to find a similar model or make already available in the market. Check out the asking price to get an idea about the average value of the car.
A little effort you put into learning about these important factors can be easily translated into dollars when you are finally selling your car.
Learn about the market
What kind of a car are you selling? Is it a demanded commodity in the market? Can you sell it for a good price or do you have to drop your expectations?
In most cases, these general rules apply to sell your car:
- Family sedans are usually in constant demand as they serve an affordable, basic means of transportation to a family.
- Have a seasonal approach to sell off sports versions and convertibles at a reasonable
- Vans and trucks can offer you a good price as they are used for work and often highly demanded. Do not underestimate them.
- Collector cars are not only tricky to price but difficult to sell. However, you can sell them at incredible prices if you know to look for the right buyer
Surveying and exploring the market is a great way to get an idea of what to expect. You will learn the pattern between sellers and buyers and the way parties negotiate to finalize the price.
Other than these factors, there are various other criteria specific to your vehicle that you must take into account. For instance, the condition of your car, its fuel consumption, mileage, and geographic location.
If you set a price keeping all of these factors in mind, you are likely to sell your car quicker and at a high price.
Set the right price
There are tons of ways to determine the fair value of your car to set the right price. These free valuation tools can give you more insight into your car and help you assess the correct value. Factors like condition, features, region, color, make, model and price are often considered before the fair amount is adjusted.
In addition to research, you must also follow your intuition. Don’t forget to keep a margin, so you don’t have to lose big when it comes down to negotiations. Look at all your options when it comes to choosing the right platform to sell your car. You can find online buyers, car dealers, and even car buying companies where you can sell off your car.
Comparing your options will help you find the right deal.
Increase your car’s curb appeal
This could probably be the last and the best time to flaunt your car. Before even jumping to the details, the way your vehicle appears can help potential buyers make their mind. The first impression of your car matters and never take this for granted. A car that fails to catch the buyer’s eye is likely to take longer to sell – regardless of how amazing other features are.
The curb appeal matters so make sure you work on that before you put it up for sale. Here are a few things you can do to fix that appeal:
- Get your car serviced
- Vacuum and wash your car from the inside as well as the outside
- Get it tested by a mechanic to make sure it is sound and free from scrapes, dings, and dents.
- Do not avoid low-cost repairs
- Keep your car clean and clutter free.
- Remove your personal belongings and other junk from the car. If a prospective buyer takes a test drive, he or she shouldn’t feel awkward.
- Clean wheel covers, wipe out the brakes and treat the tires using glossing products.
- Clean the windows thoroughly
- Clean all mirrored surfaces
- Clear ashtrays and dashboard
- Keep all important maintenance records in place
- Get the oil changed
- Ask your mechanic to issue the condition report about your car. This can be placed on top to allow the additional perspective for the buyer to go through.
- Don’t forget to keep your vehicle history report with you too.
And feel free to do anything that you know will increase both its aesthetic and real value.
So you have done your research, your car’s engine is running great, and it’s looking fantastic – what’s next?
Time to advertise!
Here comes the real deal. You can take both traditional and modern approach to advertise your car. Put the details in classified ads, go online, or get yourself registered at platforms like eBay and Craigslist.
Here are your options:
- Sign up on different websites. Websites like Craigslist and eBay are not only popular but also free with its classified Make the most out of it.
- Use Twitter, Facebook, and all other social media platforms to let your circle know about a hot car on the list. Ask your friends to spread the word.
- Use message boards on different car forums to list your car for sale
- Tell people in your circle and let it spread as a word of mouth
- Look for different car buying companies and compare your options
- Take it to a car selling market and let live buyers visit and check your car and quote a price.
Always use multiple methods and platforms for advertising about your car. The more visible you are, the bigger your reach will be. So use all of these platforms to find a great offer for your car.
Key points mentioned above are the things you must do when you sell your car privately to an individual, online, or to a dealer. If this sounds like too much effort or work to do, find a car buying company to sell your car. These companies usually tend to work with all types of cars and stay true to the claim.
So make your mind and sell it before the prices fall!