Selling a car in the current economic market can seem daunting. Drivers worry about whether they will get a fair value for their vehicle, while also having to deal with difficult credit ratings, and the prospect of having to spend significantly more to convert to a new car. In this context, it is important to consider some easy steps for how you can sell your car quickly and easily without sacrificing cost effectiveness and profits.
1 – Knowing the Market
Check the market thoroughly before putting your car onto the market. Looking up book prices and comparing similar cars online will make it much easier to estimate value. Particularly examine issues such as depreciation over time by comparing prices across a few different months. It may also be worth contacting successful sellers for advice, while making sure that you aren’t competing with them.
2 – Pricing Competitively
Think about the best kind of price that you can get while remaining competitive within a market. Don’t be tempted to take a risk on over-valuing your car, as buyers will likely have a broad range of choices to deal with. Aim for an average, with options for pushing slightly above the book price if you feel that there is a gap in the market, or if your car is a classic or limited edition.
3 – Presentation
A well presented car can make a major difference to a sale. From interiors to body work, getting your car professionally cleaned will make it easier to make a good impression. Similarly, invest in a high quality camera or professional photographer to get the best possible picture of the car.
4 – Maintenance
Take your car into the garage to fix any minor engine or body work problems. Minor faults are likely to be picked up by a prospective driver, so make sure that you can demonstrate records of a recent service.
5 – Timing
When you sell a car can be just as important as what you are selling. Try not to sell over Christmas, or in March and September, which tend to be some of the weakest months for the car industry.
6 – Meeting People
Arrange to meet a buyer in person, even if they seem interested in taking on the car from the advertisement. First impressions count, and you want to make sure that the deal will go ahead. Be prepared to take difficult questions during a test drive, and have all records and documents ready for inspection.
7 – Negotiating a Best Price
While it is important to have a minimum price, consider negotiating around this as much as possible. Don’t try to over sell your car, but have enough room to make it seem like you’re flexible to offers.
8 – Evaluating a Must Sell Situation
Be careful in making a decision when you simply have to sell a car as soon as possible. Watch out for cynical buyers who may try to take advantage of the situation. Think about whether it is better to sell to the first offer, or if it is worth waiting a few more weeks.
9 – Handling Complications
Seek external advice if any complications arise in terms of paperwork or individual buyers. Make sure that all insurance and car history documents are to hand, and that you can refer any legal matters to an independent body.
10 – Getting After Sale Reassurances
Always get a full receipt and contact information from a buyer. Similarly, arrange for a payment to go through an accredited source like a bank transfer or bankers’ draft. The last thing you want is for a deal to collapse, or for a buyer to disappear after setting up payment.