A car is among the most unique invention in the history of transportation for mankind and modern society. There was a time when the automobile was considered more of a luxury, but now it has become a commodity of necessity for most people. Of course there are people who still consider a car as a major asset, but a downside which comes with any car (especially a new one) is rapid depreciation. A brand new car loses its value as soon as it comes off the showroom and this is one reason why people prefer to buy a used one. A used vehicle depreciates slower and is usually a good value for money package than a new car.
On the other hand, the joy of owning a brand new car is beyond than buying a used one. But that excitement is short-lived and usually goes on for maximum of a year. In a nutshell, the used car industry has become a huge success with hordes of buyers and sellers making transactions on a daily basis. With lots of individuals looking out to buy a used car, this article will assist you in prepping your car in order to get a good sale with least hassle and best profit.
Market Research is Crucial
Before finalizing on the selling price of your car, it is necessary that you know what’s going on in the market. Research online portals and visit different used car lots to assist you in getting a price for your car. Certain car models have a better value than other brands and if your car has the desirability factor, you will have the upper hand. Regular cars are easy to sell and have a usual price tag, but exotic cars are difficult to sell quickly as they command a higher price. Check your car’s year of manufacture, miles driven and overall condition before looking up online websites to conclude on a price. Varying pricing trends will vary the cost and will give you a way to plan out the precise cost for your vehicle.
Condition & Evaluation of the Car
Calculate your vehicle’s condition as this will determine how much you can eke out of if while selling. You car’s price will depend on the condition and the model so ensure you keep it in good (if not pristine) condition. If your vehicle has a few teething problems or requires any repairs, make sure you rectify them before showcasing your car. While minor part replacements do not cost much, any major engine or transmission problem would drastically degrade the cost of your car. If you insist on maintaining your car on a shoestring budget, you may even opt for parts such as used headlights for less than a fraction of the cost of a new one. Used auto part dealers are capable of providing you the exact part for your car at down to earth costs and with a warranty. Such cleverness in maintaining your car will ensure a heavier wallet, a well-kept car and good VFM on the sale.
Haste Means Waste
Once your car is in mint condition, you can expect to get a good profit while selling. Even if you come across potential buyers offering a respectable price, it is a good idea to hang on for a while and keep searching for a better deal. It is important for you to keep your prospective buyers glued to the deal while you continue your search for a sweeter deal. In many cases seller tend to let go of their ride to the first buyers they come across only to get a better deal afterwards. Notify your budding purchaser to hang on for a day or two and meanwhile keep an eye open for better offers. Once you have a handful of interested buyers, you will be able to determine the best deal and complete the transaction accordingly.
We strongly recommend selling the car to a known person or a direct buyer instead of going through an agent. However, certified pre-owned car lots are known to give good deals, but they would also eventually charge a fee for selling out your automobile. Start by placing a ‘For Sale’ tag on the car to attract potential buyers. Additionally, you may also put up online advertisements on used car portals to augment the number of buyers. Consider posting your car in local newspaper classifieds only if you are in a haste to sell your car. If you have maintained your car well, you will not have any difficulty in selling it to a known person.
Once you get a ‘good’ buyer, remember to seal the deal while avoiding any lowball. Negotiations are unavoidable and hence put your best foot forward while using discretion.