There are various reasons why anyone would want to sell their car. Perhaps you need money urgently or maybe you just want to get rid of your old vehicle without losing its value. Many people also dispose of the old car when they need to upgrade to a later, more advanced model. Whatever the reasons for selling your car, you’ll definitely want it to fetch more in the used-car market.
The good thing is that these days, selling a used car is easier than it ever was before, thanks to the internet. When selling a used car, you have various options to do so, and the amount your car fetches on the market will depend on how strategic you are in your approach. More often than not, however, a car sale will fetch a lower price if done hurriedly. So, whether you have enough time on your side or not, here are some tips on how to get a great deal when selling your car.
Weigh Your Selling Options
Your very first and most important step when selling your car will be to explore various options available to you. Of course, you can trade your car at a dealership for a new car if that’s the reason you want to sell. However, this will require you to have some funds set aside to top-up for the new purchase unless the value difference between your old car and the new one is really large. The other common alternative is to sell your car to a private party, which can be extremely hard and time-consuming.
You may also sell it to dealers who buy cars for cash or try an independent car dealership. The best thing about the latter is that an independent car dealership has vast experience in vehicle sales, along with lots of connections and networks that diversify your options. Whether you want to be matched to a willing buyer or you want to sell your car for cash, you will have various options to pick from. In most cases, you’re good to go as long as you get your car inspected and valued first. A prior valuation will also help you weigh your options and determine if the estimate you’re given by the dealership is fair.
Give Your Car Some Upgrades
Whether you’re selling it to a private buyer, trading it for a new one, or selling it to a dealership, upgrading your car’s curb appeal and performance can help make it more attractive to potential buyers. You can add some upgrades to boost your car’s resale value, which may range from fixing scratches and dents or giving it a thorough cleaning job to refurbishing it or adding accessories that enhance its performance and appeal.
However, it is advisable to avoid overdoing it, and instead, stick to upgrades that will help sell your car faster and for a better price. For the best results, focus more on the details that your prospective buyer will most likely notice from a distance. The main idea is to help them picture your car as their own!
Set the Appropriate Asking Price
At this point, you’ve probably had your car inspected and valued. Setting the price can be a bit tricky, but it doesn’t have to make you scratch all the hair out of your head. When setting an asking price for your car, it pays to do some research and find out what other used cars near you are selling at. While it’s a good idea to set the price a bit higher than the current value on the market, you don’t want to go too high or you’ll never get a buyer.
As far as negotiating when selling your car is concerned, setting the right asking price will give you a competitive advantage. Most importantly, it pays to let the expert’s valuation guide you when setting your price. After setting the right price, you can create an ad that you will use to showcase the vehicle on various online platforms.
Keep Your Car’s Paperwork Handy
Before listing your car for sale, you need to gather the various documents pertaining to the vehicle. Obviously, your car’s title should be the first priority. You will also need to liaise with your lender to negotiate the terms of the sale in case you still owe money in car financing. From there, you’ll want to check with your state or local jurisdiction to find out if there is more paperwork needed for the transfer of ownership.
Allow for A Test Drive
Whether you’re selling your car to a private party or using a dealership, the buyer will most probably request for a test drive. To maximize your chances of getting a good deal, it’s important to give this privilege to the potential buyer. Arrange to meet with your prospects in a safe place where you’ll show them your used car and allow them to take a test drive in it so they can gauge its performance.
If you’re too busy to do so, you can appoint a person to accompany the prospective buyer in the test drive. In case they need the car inspected by a mechanic, the buyer should pay for the inspection. Only address problems that need immediate attention, although even minor issues may force you to lower your price a bit.
Selling a used car is not always a walk in the park. It has its fair share of challenges, especially when it comes to getting a buyer who will settle for the best price you have in mind. With the above few hacks, getting the best deal for your used car can be less daunting.