Selling a used car can be a daunting prospect, one that involves delicate negotiations and plenty of hard work. However, whatever route you choose to take, be it through a private party sale or a car dealer, there are specific steps you can take to give your car the best possibility of selling fast and for as much money as it’s worth. Paying attention to the basics—from having the car in tip-top shape inside and out with regular maintenance—will give you the best chance at moving quickly and getting the most money. That’s why this article has compiled tips that will make selling an old car a breeze.
When selling a used car, it is essential to do your research before listing your vehicle. Researching listings of similar cars will give you a good idea of how much your vehicle is worth compared to what others are asking. Next, use Kelley Blue Book to get a rough estimate of how much you should price your car. While KBB’s actual value may be far from what someone is willing to pay for your car, it gives you a good picture of how much people are willing to pay for the type of car you have. The more research you do before listing your vehicle, the more confident and fair you can be with pricing estimates when someone contacts you about buying your car.
Prepare Your Documents
Next to having a clean car, your documentation is essential for selling a used vehicle. Without it, even a fully-detailed car may not sell, and you may not get the amount you want for your vehicle. It’s also essential that you have all the paperwork in one place before heading out to sell your vehicle. Have the documents handy for buyers who need to inspect them. If documentation is handled correctly, selling a car becomes more straightforward. If not, it could end up costing both time and money to resolve any issues down the road.
Are you selling it to a dealer or selling it yourself?
In the end, you need to consider your options when dealing with dealers or to sell it yourself. Selling it yourself means having to go through all of the legwork that comes with it, and you know how frustrating that can be. However, the more effort you are willing to sell your car, the better your chances of getting what it’s worth—or maybe even more!
On the other hand, if you go through a dealer, you can trade on their reputation (making people more inclined to buy). However, since the dealer needs a cut in the sale, you should expect to earn far less than if you made the sale yourself.
Fix Any Issues
The takeaway from this should be that you should make a tremendous effort to make your car look as good as possible. It’s no secret that when people are shopping for a vehicle, the first thing they do is check it thoroughly inside and out. If there’s something wrong with it, it will still be in the back of the potential buyer’s mind. Find minor problems with your car, fix them, and you’ll see a return on your investment.
Don’t be afraid to work on your car if you have the know-how. But if you aren’t comfortable doing that, don’t be afraid to take the vehicle to a mechanic. Minor things like an air filter and an oil change won’t significantly affect a car buyer’s opinion of your car. However, more prominent items, such as tires and brakes, will.
If you’re planning on selling your car, whether it’s a clunker or a classic, it pays to set your price realistically. Remember that buyers are looking at the value of your vehicle concerning its reliability and expense. Prepare yourself for failure, or you’ll be frustrated when buyers walk away after they discover your car’s actual condition.
If a potential buyer has done their homework on what similar cars in reasonable condition cost, your starting price should be around the expected cost. Offer a fair price, and negotiate from that point. Be firm; once you start cutting prices too quickly, the buyer will think they have an advantage and try to use it.
Now that you know more about the process of selling cars privately, you can be more confident in your negotiations. Be confident that your vehicle is worth what you think it’s worth, be honest about its faults, and then get prepared to seal the deal with an offer worthy of acceptance.