How to Sell your Car at the Best Possible Price?

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Selling your car at the best possible price isn’t a piece of cake. You need to polish your car, gather all the paperwork, and market your vehicle as best as you can. If this is your first time selling a car, then the task can be daunting. You might also have to learn a thing or two about marketing. Car buyers invest 59% of their time researching online. Thus, your best shot of showcasing your car, as a seller, is the internet.

To make things simple for you, here are some important tips to pursue when selling your car at a good price:

  1. Find your car’s make and model

Begin your car trading spree by verifying your car’s model. You can dig out these details by finding your car’s vehicle identification number (VIN). This is typically located in the driver’s side area where the dashboard connects with the windshield.

If you do not find the VIN over there, then open the door at the driver’s side and survey the area. Focus on the place where the driver’s door latches when it is closed. Once you get a hold of the VIN, use a free online VIN decoder to unearth the make and model of your vehicle.

  1. Inspect the timing

Timing plays a critical role when it comes to selling a vehicle. In this context, cars are akin to gold that exhibits a price that fluctuates now and then. The vehicle market sizzles with hunger as winter approaches. This means that the demand for sports-utility vehicles (SUVs) and cars goes up in winter.

The cold season is, however, not a suitable time for putting a convertible sports car on the table. If you plan to sell SUVs and minivans, you can get the best price for them in the summers. This is because the vehicles feature a spacious interior with good space, which is desirable for road trips in the summers.

  1. Estimate value

Getting a general idea of your car’s worth is critical. You can get a free car valuation. Online sources can easily determine the value of your vehicle by scrutinizing its mileage, condition, and other aspects. You need to be honest in giving details of your car’s condition though so that you can get a good estimate of its value.

The process is pretty simple. Hop on to a free site, select your vehicle, describe its condition, enter the mileage and any other details. Then, let the guides to their guesswork. Additionally, research other cars that share a similar condition as your vehicle. Compare their pricing with your car’s value.

  1. Gather the paperwork

Your vehicle’s documents might be on the loose. But it’s high time you gather all the paperwork as you prepare to sell your car. This is a crucial step to save yourself from last-minute anxiety. Collect all the documents related to the title, the maintenance records, bill of sale, and more.

If your car is warrantied, then prepare those papers too. If warranty papers aren’t ready, then add an “as is” document, which clarifies that the new owner will be responsible for all the expenses and repairs once he purchases the car.

  1. Advertise online

You need to advertise your ride to entice buyers. This entails advertising your car online, writing an enthusiastic ad copy, and taking a lot of pictures. Ads are incomplete without photographs. These will help your potential buyer to understand your car’s condition better.

So, click and share as many shots of your car as you can. Give all the real facts in your ad copy without exaggerating anything. Don’t forget to credit any unique features of your car, for instance, a sunroof. Third-party sites are excellent sources for attracting buyers. Autotrader reveals that such sites are spaces used by 78% shoppers for car shopping.

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6.Wash and clean your car

It’s no surprise, but people prefer to purchase a clean car. So, before you take those pictures and pose your car for selling, make sure to clean it thoroughly. Leaving an excellent first impression of your vehicle is significant.

Therefore, get a car wash, change the filter and oil if need be. Replace any broken lights and fix any minor surface damages like paint scratches. Do not repaint your car, as the majority of buyers think that the repaint is to cover up for an accident.

On a side note, your car’s color also plays a vital role in determining its value. An analysis of 1.6 million vehicles revealed how various colors depreciated the car’s value in the first three years of its ownership. Here is an overview:

Depreciation Cost

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  1. Get your car detailed

Car experts recommend that you spend between $100-$200 for car detailing. The spokesperson for the Car Care Council, Lauren Fix, points out that detailing is likely to add $500 or higher to the resale value of your car. Detailers give a new look to your car again.

The process helps remove paint imperfections and light scratches, shampoo carpets, degrease the engine, buff the car, and more. You can do detailing yourself too. However, it is a very time-consuming process, which demands hard work. So, it is best that you let a professional handle it.

  1. Negotiate like a pro

When you are out in the market for selling your car, haggling for a price that suits both the parties is only natural. A smart move is to mark your asking price more than the actual price that you plan to accept. For instance, raise the asking price by 5% to 10%. Then, negotiate with the buyer.

Besides, set your price as per the time you have for selling your car. For instance, if you want to strike a deal at your earliest, then base a price that is a tad bit lower than other similar vehicles. AutoTrader’s Mark Scott advises, “If you need to move it, set the price for $9,500 when similar models are all selling for $10,000.”

Key takeaway

Conclusively, you can sell your car at a good price by doing the necessary to restore its polished look. Advertise online, gather all the paperwork in advance, and check the market prices for other similar vehicles. Besides researching the market, be careful about your timings. Also, know your vehicle’s value before putting your car under the selling category and set the asking price a bit higher than what you’d accept. This makes negotiation easy. Lastly, market any unique features that your car may have such as a premium sound system.

Author Bio:

michelleAbout 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.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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