Selling a vehicle is not as easy as purchasing one. Are you confused about how can I sell my car? We are here to make the process easier for you. Here is a comprehensive guide on how to sell your vehicle. Follow it to reduce the hassle and effort involved in the usual car selling process.
Begin by doing your research
Always go into the market prepared. If you are rigorous with your initial research, you are bound to get the best deal for your vehicle. Surf the internet and ask around about the current market of automobiles in the country. Does your car has a high demand in the used market? If so, you will find it easier to sell your vehicle compared to instances when your vehicle isn’t a hot commodity.
Here are some of the questions you need to answer during your research:
- What type of car do you have and what is the current market demand for the said type of automobile?
- What are the popular ways of selling your car online? For instance, are the online car buying services well-reputed in the area?
- What is your geographic location and how does it affect the value of the vehicle?
- What is the book value of your vehicle as per the listings?
Do our homework and learn about the market beforehand. This will allow you to get an idea of what to expect when you try to sell your vehicle.
Learn the price of your car
The second step to selling your car is finding out its worth. You can’t expect your buyer to foot their price. Why? This is because even if you sell your car to dealerships, they are going to offer you a price that is best suited to them. Your goal should be to get a value that is genuinely the worth of your car. After all, you wouldn’t want to undersell your car, would you?
Now, to learn the price of your vehicle, there are various things can you do. Either you can rely on the price listing provided by guides like Kelly Blue Book. Or, you can opt for a thorough car valuation service. The latter is a better way to learn the correct value of your vehicle. This is because listings only relay the book price of your vehicle.
Multiple other factors come into play when finding the right worth of your vehicle. This includes car condition, mileage, vehicle color, your reputation, the value of the add-ons and the overall demand of your used car in the market.
Even if you invest in car valuation, you might find that the market price of your vehicle might be different. It will fluctuate from the value presented by the service. Always be prepared for slight discrepancies. A great way to negotiate a deal is by asking for a little high price than what you are ready to accept. After all, people love negotiating. So, if you ask for the right price from the get-go, they might ask you to settle for less.
Moreover, use tactics when setting the final price. You might have noticed that all the big companies always end their prices in “999”. This is because consumers often tend to see the first digit and not the last when looking at a price. So, if you tell them something is worth $12999 rather than $13000, you will get more sales. It is incredible how the human mind works!
Invest in your car
Cars are a high involvement product. This is why people wish for their vehicles to look great. Here, first impressions matter. This is why you must invest in repairing your vehicle to make it look aesthetically pleasing. Do so even if your car operates flawlessly. Your vehicle must have the curb appeal to be sold quickly.
Here is what you can do to make it look better in front of potential buyers:
- Vacuum and wash the car from inside as well as from outside
- Ensure its mechanical soundness. The vehicle shouldn’t feature any dents, scrapes or sounds
- Remove any junk that may be present inside so that your customer isn’t appalled by the vehicle during the test drive
- Apply tire gloss on the tires to make them look new and unused
- Clean the windows and different mirrored surfaces
- Maintain a record of all the repairs and maintenance you did to show potential buyers
While you are at it, get a mechanic to check the car to guarantee its functionality. Make sure all the components are working before you start accepting offers.
Decide who to sell
Various entities might be interested in purchasing your car. Decide who you want to sell to. There are pros and cons attached to all of the potential car buyers.
Individual buyers
You will find various private buyers willing to purchase your vehicle. To reach them, advertise through newspapers, social media, and similar communities. Private buyers mean interacting with a lot of people and allowing them to take your car for a spin. This can get hectic. However, you are more likely to seal a reasonable deal since private customers don’t haggle much.
Online car buying services
Multiple car buying companies are operating in the country. Through them, you can sell your vehicle without stepping out of your house. However, some might find this method to be risky if they don’t invest in the right service.
Car dealerships
If all else fails, you always have car dealers who will be willing to purchase your vehicle. This is the safest way to sell your car. However, you might not get the price you want since car dealerships tend to offer low prices for used cars.
Complete the deal
After you have found the right buyer, verify your paperwork and complete the transaction by handing over the vehicle. In return, the decided amount would be transferred to your account or will be handed to you by the buyer.
Final thoughts
Voila! Your car is sold. Your worries have been solved.
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