There comes the point in your life as a car owner when you decide it’s finally the time to part ways with your vehicle. The used car market is bigger than the new car market. Experts at Instamotor surveyed the reasons why large volumes of people are selling their cars. It turns out that 20.3% of people were selling vehicles due to their growing family needs. While 14.7% were willing to purchase another model.
There are plenty of other reasons for the expanding market of used cars. With the growing numbers, the scope of the industry also continues to grow. For example, there are various techniques to sell a used car. However, there are certain precautions one has to take before they put up their car for sale.
You want to sell your car as soon as possible and receive the best price for it. As a seller, you should know that car buyers want to feel secure and confident when purchasing a used vehicle. It is true that trends in the automobile market are changing. By employing better ways and using certain tips, you can sell your car at a compatible price.
Here are the 5 best techniques you can use to sell your used car:
1. Enlist at the right places
Gone are the days when the owner had to hang up a “for sale” sign in the car window or put an ad in the paper. We are living in a digital age where practically everything can happen on the Internet. About 80% of car buyers shop online. There are websites where you only have to go for the sell my car option. The sites handle every step from there onwards.
From valuation to paperwork, it’s a hassle-free process. There are fee-based options and online auction sites. The choice depends on you. We recommend that you should carefully examine all the terms and conditions that come with listing your car on each platform.
Choose an authentic website that has a history of successful transactions.
2. Set a viable price
Setting the right price is a trick that always plays well. Certainly, you are looking for the highest possible price, but you need to be reasonable. If you put up a heavy price, no one is going to pay attention to your advert. And if you price it too low, you will end up making less money than its worth.
Research the market before you set a price for your car. Check out the prevailing rates for cars with similar mileage and condition. Pay attention to the features of those vehicles. If your car lacks some of the extras, it is wise to price it lower than those models.
On the other hand, it is quite likely that you have spent some additional money to accessorize the car with add-ons like comfortable seat covers and more. Mention them in the description. This will play a vital role in justifying your price.
For a professional price judgment, you can also visit online automobile forums. These provide a fair and reliable way to gauge the value in the market.
3. Focus on presentation
Selling a used car means you have to satisfy the clients that they are getting a good deal. Presentation is the first milestone you have to achieve. It must be appealing, reasonable and convincing. The way you market your car can make a difference in how long it takes you to sell it.
The best technique is to post adverts with photographs. This must show the car from different angles.
Recent studies reveal that car buyers want to know a vehicle’s history before making a purchase. Hence, field experts recommend that sellers must mention comprehensive information of the history and any damages that it has sustained.
4. Pick the best outlet
What outlets do you want to use for selling your car?
We mentioned earlier about the online options available. However, if this medium does not satisfy you enough, there are physical channels available as well. You can sell it privately, or make a deal with a local dealership.
Selling privately means handling all affairs from advertisements to negotiation on your own. While it is a process that is tedious and time-consuming, the returns are higher than the other options. Selling the car to a dealership involves getting the price of the car according to the appraisal value. You can also trade your car with any other vehicle that you like at the dealer’s store.
If your car is not in working order, you should turn to a local scrap yard.
All in all, you know the condition of your vehicle. You should choose an outlet that works best for you according to the market trends and consumer preferences.
5. Prepare beforehand
Selling a used car is about making sure that everything is in order from before. You can speed up the process with organized documentation and decided payment mode. Also, prepare the registration book and service history papers. Your customers need reassurance that the car is in good shape for which you should provide maintenance receipts also.
Once the deal is final, there are speculations and discussions on the payment mode. It is preferable to mention the mode of payment at prior. Always go for a total cash payment. Settling for installments may result in fraud.
You should also know about the required procedures for your region. Prepare the legal documents, insurance and transfer of ownership papers to authenticate the transaction.
Do not rush things when selling your car. It is quite likely that you will not get any solid offers initially. But by following these techniques and some other tips, you can increase the resale value of your used car. Lastly, you should be a negotiation pro.
Research and acknowledge the real worth of your car, then go for a selling option that you strongly believe in.
About Michelle Joe: Michelle Joe is a blogger by choice. She loves to discover the world around her. She likes to share her discoveries, experiences, and express herself through her blogs. You can find her on twitter: @michellejoe524