Many people consider a car purchase to be a significant milestone. Besides the emotional high it gives you, buying a car can be an investment. Some cars, especially rare models, have a good resale value. Unfortunately, the car selling market isn’t rigid, and there are many risks you may not know about on your first try. Here are a few tips to help you sell a car without all the stress.
Determine the Value
Everyone will want to get a good deal on their car sale. You may be asking yourself how much is good for your car. The truth is that most cars depreciate in value. So, you may have to reduce the sale price unless your car is an exclusive model or it comes with never-seen features. That’s where the problem is. Even though a car’s value depreciates after using it, you may not know exactly where to set your price.
How do you determine your car’s value? First, check all the extra goodies you can flip for quick cash aside from the car. For instance, you may want to factor in some extra lights you acquired to make your truck look funkier. Check for transferable insurance packages. Your buyer may not want the hassle of procuring a new one when they conveniently take over yours.
You also have to ask yourself, “Can I sell my number plate?” Most likely, you can if it’s personalized. You can liaise with a dealer or broker and auction it on sites like eBay. The latter option can be a great way to control what you think your personalized plate is worth.
Know Your Buyer
Selling your car can be risky. You could end up in an unending back and forth for your money after selling to someone who refuses to pay your money back. Worse still, you may face a court case if your customer ends up in a hit-and-run accident or commits a crime with the car.
So, doing a little background check on your customer is crucial. Don’t just check for the person’s location or workplace. Ensure you get their property secured with the person’s details, especially if you’re giving your car out on a payment plan. Signing a memorandum of understanding (MOU) with your customer can also make the transaction viable for legal ramifications if one party doesn’t hold their end, giving you some guarantee.
De-personalize Your Car
Adopting some key dealer best practices can be beneficial to your car sale even though you’re selling it yourself. For instance, it’s crucial to make your car look neutral, just like dealers do. Rid your car of all personal touches like souvenirs and bumper stickers. You may not know how your customer will react to your religious or political choices.
Deep Clean and Maintain
Cleaning your car for the last time before the sale can do magic for your negotiations. Some last-minute touch-ups and body works can also beef up the asking price.
Consider the low-cost efforts so that you don’t end up charging too high demands on your sale. You can opt for a deep clean of the interior, wipe stains off car seats and change old carpets.
Generally speaking, selling your car can be daunting. However, the process can be fun and manageable if you’re honest about your car’s condition and follow these tips.
