If you have decided it is time to upgrade your ride, you will likely need to get rid of your current set of wheels. Selling a car can be a daunting experience if it is the first time you are doing it. You could lose out on a lot of money if you don’t do it the right way. On paper, the process seems simple enough; list your car on a car selling the website, wait for calls from prospective buyers, take them out for a test drive, negotiate and settle on a price, and finally, end the transaction.
The truth is, it involves a lot more hassle than what is said above. You need to know the market and pick a competitive price. You will need to clean the car and have it inspected. You will also require the vehicle’s documents before you can advertise your car for sale.
How to sell a car:
There are a number of methods to sell a vehicle, and you will need to decide which method works best for you. Selling to a dealer is easier, but it will earn you less money. You can also put up a classified ad and look for an independent buyer. You are likely to entail a larger payoff in the latter, but you assume some risk from interacting with strangers. Whichever course you chose, some necessary factors will go a long way towards getting you the best deal.
To simplify the rather complicated process and boost your chances of getting the right outcome, we have put together the factors you need to consider before finalizing to sell your car.
1. Study the market:
Your first job is to find out the worth of your vehicle. Study the market to find the prices of comparable vehicles. Be wary of the geography and the time of the year when setting a price for your car. Certain vehicles such as convertibles, sports cars, and coupes have more demand in summer. So, you will have to lower the prices of such cars to attract buyers in the fall or winter.
It was a particularly complicated process in the past, but today, there are many online tools available to evaluate a car properly. The online car valuation process is hassle-free and straightforward and provides you a fair value for the vehicle. If I want to sell my car, all I need to do is enter the registration number of the vehicle, the make and model, some personal information and the websites will instantly provide me the worth of my car.
2. Get your car inspected:
You should also examine your car to ensure that it is in excellent working condition – the better the condition of the vehicle, the better the price you will receive. It is better to take the car to a dealership or an independent mechanic and have them give it a full inspection. This will let you know of any problems that you need to fix in order to avoid any nasty little surprises later on.
It is wise to invest in new floor mats or replace old tires with a new set. It will cost you some money, but you will be in a position to command higher prices once you show the potential buyers that the car is well taken care of.
3. Get your car cleaned:
It is quite obvious that cleaner cars fetch more money. No one wants to pay a good price for a car that is dirty and scrapped up. You have to present your car in the best possible condition to make sure you get a good value for it. Make sure you remove any rubbish and empty out all personal items or anything that could deter interested parties.
If your car is in a good nick, you can give it a thorough clean inside and out yourself; a more intense clean will be required in case the car isn’t in good shape. This will involve taking the car to a professional car cleaner which will cost you some money, but the cleaner car is likely to impress more potential buyers, hence increasing the chances of a better payoff.
4. Check the paperwork:
Different territories have different requirements when it comes to paperwork. Make sure you have all the necessary documents ready to show to a prospective buyer. Service books, records and paperwork related to sale, repair and vehicle maintenance can be effective in proving that the car has been taken care of properly and regularly. Other documentation including proof of ownership, certificate of registration, vehicle information number, and engine number will make the buyer feel at ease.
5. Take quality photos of your vehicle:
Once the car is cleaned, you need to take quality photographs because most people want to see the car before they buy it. These photos will aid you in your efforts to advertise the vehicle and attract potential buyers. Take multiple shots from different angles and select the best photos when you create your ad. Make sure to include the interior of the vehicle using good lighting so that a viewer can get an idea about the car’s condition inside and out.
6. Create an ad:
After cleaning and taking quality photos of your car, you are ready to craft your ad. Write an attractive description of the vehicle. As you will be competing with hundreds of others classified ads for attention, make sure you include crisp photos and a compelling summary of the vehicle. Your ad should also include important info like asking price, vehicle’s condition, registration number, mileage, and other data relevant to the car.
7. Screen potential buyers and negotiate:
After you have posted your
ad on different forums, be ready to respond to potential buyers. Answer any
queries via email or phone and set up test drives for serious buyers. Lay out
your guidelines to avoid time wasters and fraudulent candidates.
ad on different forums, be ready to respond to potential buyers. Answer any
queries via email or phone and set up test drives for serious buyers. Lay out
your guidelines to avoid time wasters and fraudulent candidates.
After showing and
discussing the vehicle with a potential buyer, it is time to negotiate the
price. It is better to have the lowest acceptable price already in mind and
stick to it. Finalize the sale once the two of you agree upon a value and seal
the deal.
discussing the vehicle with a potential buyer, it is time to negotiate the
price. It is better to have the lowest acceptable price already in mind and
stick to it. Finalize the sale once the two of you agree upon a value and seal
the deal.
Conclusion:
These are some of the things that you
need to consider before selling your car. Follow all these tips, and you are on your way to getting the best
possible value for your car.
need to consider before selling your car. Follow all these tips, and you are on your way to getting the best
possible value for your car.
