Top Secrets for Selling a Car
Successfully
Do you own an old car? Want to get
rid of your old car and purchase a new one? Or, maybe you now want
to take public transportation and think that the cash from the sale
of your old car could come in handy. Well, whatever reason you may
have, your old car has to go.
So what are you going to do with it?
There are several options for you to
choose. First, you could donate your old car to charity. Second,
you can consider trading it in toward the purchase of a new
vehicle. And lastly, you can sell your car by yourself and boost
your profit.
If you happen to choose the third
choice, then note and understand that selling a car yourself may
involve certain risks. Although selling your car yourself can save
you a lot more money than a dealer would give you trade-in value
for, it is always riskier to sell the car yourself, at the same
time. Now the question is, is it worth it? My answer is yes, if
and only if you know how to lower your risk factor.
Well, below are some tips for you to
consider on how to market your car and at the same time avoid the
risks associated with selling it on your own. Consider the
following:
Secret #1:
Evaluate Your Personal Circumstances
To top it all, it is best to evaluate
your personal circumstances and the kind of person you are as you
decide in selling your used car. Before you sell your car on your
own, make sure that you have enough confidence in negotiating with
other people, the buyer. Also make sure that you are ready to
entertain phone calls and test drives. Know yourself, that’s simply
it!
Secret #2:
Know the Market and Arm Yourself with Information
The first best way to start when
planning to sell your car on your own is to know the market you will
be dealing with and arm yourself with enough information. You can
do this simply by determining how much your old car is worth. Try
to ask questions like, Is your car going to be easy to sell? Is
it a hot commodity? Or, will you have multiple offers? To back
up these problems with wise answers, your first step is to check
some car ads online.
As you may know, several used car
guides like those available at Yahoo! Autos are now available out
there on the web. They are no doubt a good place to start for they
may help you determine the value of your vehicle by knowing your
car’s make and model, mileage, as well as a general idea of its
current condition. Based on those basic details you gathered, you
can easily and quickly secure accurate estimates for how much the
dealer in your locality is likely to offer on a trade in. Visiting
and examining the used car guides on the web may also help you
determine how much you might expect to make by selling your car
yourself.
Aside from checking the online used
car guides, you can also check the used car price guides that are
now commonly available at libraries or book stores. There is also
your local newspaper’s automotive advertising section for you to
check out for similar vehicles. All of these sources will surely
help you set a price based on your local market.
Secret #3:
Configure and Advertise Your Car
Once you know the market, try to
configure your car. Know the mileage, condition, options, and even
the region in which the car is being sold. Then, advertise your car
on bulletin boards, in local papers, and online. Take a few
pictures at different and write out full details of its performance,
features and warranties. Speaking of warranties, note that in order
for you to obtain a great sell-value, you need first to obtain an
extended warranty for your car before you sell it and offer to
transfer ownership to the buyer.
Also, when considering advertising,
your used car ad should list the year, the model and body style. To
further attract buyers, you might want to include the number of
mile, engine size, or the color of your vehicle. However, when
writing your car ad, be honest. If possible, avoid flowery phrases
and only use words that the prospective buyers will respond to such
as super clean, low mileage, one owner, regular service records,
excellent fuel economy, and a lot more. Stick to these kind of
words and note that little words convey a lot. If, for instance,
your car has any special features, let the public know about them in
your advertisement. So if your car has a car alarm, then state it
on the ad. Note that the clearer and more honest your ad is, the
less hassle you will have in selling it on your own.
Secret #4:
Flatter Your Car
First impressions are very important
for they are said to last. Given this idea, it’s no doubt then that
the way your car looks will be the first thing that any potential
buyer will notice. As such, it is very vital for you as a seller to
give your vehicle a good scrubbing inside and out.
Spend some time polishing your car
with a good car wax. Wash, wax and detail your car, and inspect it
to make sure that it is mechanically sound and free from any dings,
scrapes and dents. As what many successful car sellers would
recommend, shovel out all the junk from the inside of the car.
Clean the brakes, tires, wheels, windows (inside and out), and all
the mirrored surfaces. Also wipe down the dashboard, the armrests,
nooks and crannies, and empty the ashtrays. Or, if you want, have
your car cleaned and detailed by a professional detail shop.
Cleaning and detailing your car plays
a very important role in selling as having your car cleaned gives
you an edge over the other vehicles in the market. As you may
realize, an attractive car can justify a higher selling price.
In addition, do not make any major
repairs on your vehicle. This is due to the fact that any major
mechanical repairs or body work will almost always cost more than
the increase in price you’ll get for the car. So instead of
throwing a lot of money on major repairs, simply be honest and
straightforward in your ad for the car. And, once the cleaning and
detailing are done, put your maintenance records in a neat folder
ready to show interested buyers.
Secret #5:
Show Your Car and Respond to Inquiries
You’ve decided to let your old car
go, so when you sell your car always bear in mind that your
prospective buyers will also be evaluating you. So to win their
interest, you should make a good impression. If possible, make your
targets feel comfortable and respond to their inquiries openly.
When your prospective buyers start
calling you, be ready to answer their questions. Prepare callers
for what to expect when they see the car, and answer their questions
honestly over the phone. Understand that you will save yourself a
lot of time and hassle making appoints that will not turn into a
sale. Thus, make an appointment with each caller for a specific
time, rather than allowing them to come sometime at work.
I am talking about appointments here
for I have realized that making an appointment when selling a car
increases the chances of the buyers showing up. If it happens that
they are late, you don’t have to feel obligated to wait for them.
So to make everything easy, make sure that you ask for their contact
number, preferably a cell phone, and don’t be surprised if some of
your prospective buyers don’t show when it comes with the
territory.
It is usual that any potential buyer
will want to test drive the car for sale. So ride along with them
so you can answer questions. In relation to this, there is a great
possibility that they may not know the area, so it is best that you
guide them along the test drive route.
Some of the buyers will also want to
take the car to a mechanic to have it checked or inspected. So if
you already have a report from your mechanic, then this is the right
time for them to see it. Remember that in every transaction like
selling a car, this is a reasonable request.
Secret #6:
Protect Yourself
If, for instance, your prospective
buyer wants to go on a test drive by himself, ask to hand on to
their driver’s license. If he doesn’t have one, he shouldn’t be
driving around in your car. This is pretty practical.
Secret #7:
Negotiate Your Best Price
Before you negotiate for the price,
be sure that you already know the market and how much your car is
worth. Then, if your prospective buyer test drive your car and
likes it, expect them to make an offer. However, if their offer is
below your asking price, there are two options for you to choose: to
hold firm with your asking price, or make a lower counteroffer.
Before deciding on these choices, think about your real wants.
Consider your answer carefully. If you’ve decided either of the two
options, try to speak slowly and clearly to avoid misunderstandings.
Perhaps the best way to do when
negotiating for your best price is to keep the negotiations between
you and your buyer impersonal. You can do this by reaching a
win-win price. Aside from that, give the negotiation process some
thought ahead of time. This will surely keep you away being caught
unprepared when the time comes.
Secret #8:
Be Ready to Handle Complications
As I’ve said earlier, selling a car
is not an easy task. It involves certain risks and complications,
so when you are selling your used car, be ready to handle any
complications that may occur. It is usual in this kind of
transaction that you might reach an agreement withy your prospective
buyer that is contingent on performing repair work. This kind of
situation may lead to certain misunderstandings between you and your
target down the line, so if you can try to avoid this.
But, how to avoid such kind of
situation?
Perhaps the best thing to do is to
have your car in good running order and know in detail about any
repairs necessary. If you don’t know much about the condition of
your car, ask your mechanics or show the buyer the mechanic report.
Always remember that a used car, particularly an old one isn’t
expected to be perfect, but it still might be useful. So, again,
the key here is to be honest in your car ads.
Secret #9:
Finalize the Deal
Before closing the deal, remember
that the laws governing the sale of motor vehicles generally vary
from state to state. So be sure to check with the governing agency
in your respective state. Well, checking the laws can be done
easily these days as many sites handling these laws are now out
there available on the web. So try to search them online with the
powerful search engines like Google.
Also, when selling your car, it is
very necessary to limit your liability. So if someone drives away
in the car you just sold and they get in an accident, I am sure that
you don’t want to be held responsible. The best thing that you can
do now is to sign the title over the buyer or provide them with a
bill of sale once you have the money from the sale.
Secret #10:
Check the Title Transfer Procedures
To transfer the car title to the new
owner, you should consult with you state department of motor
vehicles and determine what requirements you must follow to do the
task. Usually, the title transfer procedure starts with signing and
dating the title prior to the passing of it to the buyer. The
process also involves notifying the department of motor vehicles of
the transaction.
However, although given that the
department needs to be notified, it is still important to make sure
that the department of motor vehicles is properly notified for the
car title to be correctly transferred to its new owner. This is
very important as this will prevent you from being liable for any
accidents once the transfer is complete.
Along with this, remember to contact
your insurance agent for the cancellation of your policy on the
vehicle you have just sold.
Secret #11:
Take Cash Only
If your buyer agrees to a purchase,
make sure that you always get either cash or a certified check. Do
not take any personal check or a payment plan. Also, don’t agree to
accompany the buyer to get the money. Always note that if the buyer
is inclined to buy the vehicle an agreement can be struck to return
to the same location at another date to make the exchange. However,
if you do not feel comfortable carrying cash, you can always go to
the bank with the new buyer and make an electronic transfer.
Secret #12:
After the Sale
In every sale process, certain
unexpected bumps occasionally arise. However, these unexpected
bumps will be handled easily if you are dealing with a reasonable
target. So, as you are contacted by prospective buyers, simply
employ your intuition to evaluate the person. If your intuition
tells you that your buyers seem difficult to deal with, shady or
pushy, then maybe it’s time for you to wait for another buyer. One
main fact that prevails here is that with the right person, selling
a used car should be uncomplicated and as easy as pie.
So you’ve learned what to do when
selling you used car. It’s important to know now that in reality
the market for selling used cars is very competitive. Obtaining the
best deals can even be a challenging, yet rewarding experience. So,
if you are planning to sell your car for whatever reason you may
have, be sure to do your homework and be prepared. As what most
successful sellers often say, the educated sellers are usually the
most successful ones. So educate yourself. That’s the main key.
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