How to Get the Best Possible Price when Selling your Car 12 Comments
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If you’re ready to trade your old car in for something new, you have a few options. You can either turn it into a dealership or sell it on your own terms. Selling your car privately can lead to better prices, because you can choose whether or not to accept the multiple offers that may come in. However, to get the best price for your car, you’ll need to invest a bit of time and research. The following tips can help you as you get started.
Research the Competition
Before you can put your listing up, you’ll need to settle on a price for your used car first. This is where a little research can come in quite handy. Look at similar car reviews and ratings, as well as sale prices on listings sites in your area to get an idea of what your car’s market value might be. It’s helpful to check listing prices in different markets. For example, you may find that your model of car is in higher demand in urban areas, in which case it may be worth placing a listing in the city newspaper. Many buyers may be willing to travel for a bargain, so think outside your immediate vicinity.
Get your Paperwork in Order
You’ll be able to negotiate a better price if you have the full service records and vehicle history for your car. If you’ve poured time and money into your car, you’ll want to prove this to potential buyers. Now is also a good time to take care of any small fixes that could improve your car’s selling price, such as a paint touch-up or a new headlight. In addition to paperwork related to the car’s condition, you should also have a bill of sale, liability release, and car’s title ready for buyers if someone comes to see the car and wants to buy it on the spot. Write out a full receipt, and make two copies for buyer and seller.
Create a Detailed Listing
Even the most basic listing will include the make, model, and year of your car. However, don’t forget to include other vital stats including the car’s current condition, major features included in the sale, and the car’s mileage. The more detailed and accurate you can be; the more serious buyer interest you’ll generate.
Visuals, Visuals, Visuals
Although a written description is important, photographs are what will really grab a buyer’s attention. Take both exterior and interior photos that show a clear picture of your car’s condition. Rather than hiding dents or defaults, show these off so the buyer knows exactly what to expect.
Keep a Cool Head
Haggling is part of the fun of a used car transaction, but it can be stressful when you’re the seller. You may want the benefit of a quick sale, but this doesn’t mean that you must accept a shockingly low offer. Be prepared to have a price range in mind and know what your minimum price is before you enter negotiations, as well as selling points to back up your asking price. You may come across a buyer with an aggressive demeanour, but it’s important not to be intimidated and to keep your cool. Remember: there will be other buyers.