Selling your car takes effort and patience
Article by Edward Andrews | Dec. 11th 2017
As the saying goes, one man’s junk is another man’s treasure and this is certainly true when it comes to cars. After all, not everyone can afford a brand new Mercedes or the companion of their dreams and buying a second hand vehicle is the obvious way around this obstacle. Either way, there is definitely a market out there for your car but attracting the right buyer and more importantly, the right price requires a little more thought. Here is some advice to keep in mind when selling your car:
Detract emotion and add value
Selling your car can be quite an emotional process but while you may have experienced many good times together, this process is a lot easier and more productive if you can put these feelings aside. In this regard, you must realize that potential buyers will look at your car in a very practical manner and with little concern for the sentimental value it holds for you.
Find the best and most realistic asking price
When advertising a car, the last thing you want to do is under-price the vehicle but at the same time, over stating the value will turn many buyers off showing any interest. For this reason, you need to do some genuine research and find the true value of your car in the current market. Here are the most important aspects you will need to consider when deciding on the asking price for your car:
- Condition – How does it look? Is the car missing anything important? Is the paint work clean and body without any bumps or scratches? Potential suitors will also want to know if the vehicle has suffered any accidents and request to see the damage caused.
- Interior – Does the interior feel new or can it be cleaned up until it looks this way? Buyers will value the interior of your car just as much as how it looks from the outside.
- Tires – One sure way of reducing the value is to leave an old set of tires on the vehicle. Consider replacing tires which are old or worn and ensure vital aspects such as the brakes are working fine.
Know the specifications
Every manufacturer and model is made for a specific reason, to be different, and this is one way in which you can go about increasing the asking pricing. If the car in question is a particularly popular model known for being reliable, the price will increase. Likewise, any special modifications or features such as a spoilers, sunroof or even a sound system should be taken into consideration.
Research used cars online
Obviously finding the current asking price for a new car is quite easy but for used vehicles, the best way to come up with a valuation is to assess the asking price for similar models online before comparing the relevant specifications and conditions of the vehicle with your own.
Selling your car to a dealership versus privately
Selling your car can be quite a stressful process at the very least. Potential buyers waste time while the questions keep coming and this can be most peoples’ idea of their worst nightmare. Furthermore, there are technical issues such as taxation often needs to be covered after the sale of a vehicle. That being said, the most inconvenient part of selling your car is usually the time and effort it takes to produce photographs, advertise, answer phone calls, meet potential buyers and then finally, negotiate the price.
Yes, the process is indeed both exhausting and time consuming which is why private dealerships are often a better option as they take care of everything from start to finish.
Pursuing a private sale
However, many car owners will still pursue a private sale in hope that they can make a better sale than the professionals. In this instance, you will need to put in the time mentioned above and a good place to start is with the overall appearance of the car. From external scratches or paintwork to dirty set covers and faulty seatbelts; all of these details need attention and will absolutely determine the amount of which you can get for the sale.
Take photographs and write an advert
Many professionals request a substantial fee for writing even a short advert but if you want to write this yourself, then by all means do so. Featuring important information such as the mileage, condition and number of owners, this advert should be concise but also transparent and not misleading in any way.
Publish the advert online
Every destination and region will have a dedicated place to sell vehicles online and most of these require a small fee for the privilege. For reasons of trust and safety, many buyers like to visit a private dealership to check out a vehicle but there is certainly a very large online market for used cars and a quick Google search should located the right one for your circumstances.
Meeting prospective buyers
Although this can be quite a nervous encounter, it works both ways and the buyer is usually feeling the very same way. However, this is really no time for emotions and it is always best to focus on this as an everyday business transaction. Most buyers will arrive with the intention of reducing the asking price but even if this sounds reasonable, you should wait as long as possible before changing this price, without frustrating the buyer. As a rule, focus on all the strong aspects and positive performance of the vehicle and never sell unless you are completely happy with the amount being proposed.
Paperwork and basics
Selling a vehicle is only possible once all the necessary paperwork is to hand. If you still have the previous sale receipt and maintenance history, this will be a hugely encouraging sign for interested parties. However, there is obviously paperwork such as the actual bill of sale and warranty forms which must be presented before any money can be exchanged.
Whether you choose to trade with a local dealership or opt for a private sale, remember that the successful sale of any product or service requires effort and patience.
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