Unless you prepare on selling your car to a close friend or family member, you’ll have to put some time in planning on how to sell your car. If you want the most value out of you car, it’s not as easy as just looking up your car’s value and posting a craiglist ad.
Edmunds has compiled a list that covers everything from pricing to advertising to negotiating. Check out the easy-to-follow process below:
Step 1: Know the Market
Your first step is to check on-line classified ads to see how much other sellers are asking for your type of car. Keep in mind that dealers will have different prices than private party listings. The eBay.com classifieds and other Internet sites allow you to search with specific criteria. For example, select the year and trim level of your car and see how many similar cars are currently on the market. Take note of their condition, mileage, geographic location and selling price so you can list your car at a price that will sell it quickly.
Step 2: Price Your Car Competitively
There are always some exceptions to the rules of pricing, so you should follow your intuition. And be sure to leave a little wiggle room in your asking price. Ask for slightly more money than you are actually willing to accept. If you want to get $12,000 for the car, you should list the car at $13,500. People tend to negotiate in big chunks ($500-$1,000) rather than small increments ($100-$200). That way, when a person makes you a lower offer, it will be closer to your actual price, rather than below it.
You may have noticed how creative used-car dealers get in pricing cars. Their prices usually end in "995," as in $12,995. Are we not supposed to notice that the car basically costs $13,000? There is a lot of psychology in setting prices. A product that doesn't sell well at $20 might jump off the shelf at $19.95.
Step 3: Give Your Car Curb Appeal
Before you advertise your car for sale, make sure it looks clean and attractive. This goes beyond just taking it to the car wash. Here is a to-do list to help you turn your heap into a cream puff:
- Wash and vacuum the car and consider having it detailed.
- Make sure your car is both mechanically sound and free from dents, dings and scrapes.
- Consider making low-cost repairs yourself rather than selling it "as is."
- Shovel out all the junk from the inside of the car. That way, when a prospective buyer goes for a test-drive, they can visualize the car as theirs.
- Wipe the brake dust off the wheel covers and treat the tires with a tire gloss product.
- Thoroughly clean the windows (inside and out) and all the mirrored surfaces.
- Wipe down the dashboard and empty the ashtrays.
- Have all your maintenance records ready to show prospective buyers.
- If the car needs servicing or even a routine oil change, take care of that before putting it up for sale.
- Have your mechanic check out the car and issue a report about its condition. You can use this to motivate a buyer who is on the fence.
- Order a vehicle history report from Autocheck.com and show it to the buyer to prove the car's title is clean and the odometer reading is accurate.
To see the six remaining steps head over to edmunds.com where they lay out their list to help you get your car sold at it’s highest value: http://www.edmunds.com/sell-car/10-steps-to-selling-your-car.html
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