Planning to sell off your old car and finance your new car with the money? Well, it certainly is a good idea. But do you know if your old car is appealing enough for buyers? Is it fit to be used by another person? Will you get the desired amount for your vehicle? These are some of the questions you should answer and address before you put your car up for sale. To get the right price for your old car, taking a few precautions is necessary.
Get it inspected and repaired
If you want a good price for your car, the first thing to do is make sure it is in good condition. Take it to a reliable mechanic and get it inspected thoroughly. If there is need for repairs, get them done and get the car in good shape. If you do not want to spend on repairs, you may not get the expected market price on the car.
Know the market
Know the demand for your car’s model and make in the market. You may want to sell it, but will you find buyers for it? Find out if there are takers for the model of the vehicle you own. Next, research about the price you may be offered for the vehicle. Based on that, you can decide how much to ask for the vehicle and what changes you need to make to it to get a better price.
Offer a competitive price
Pricing is important if you want to attract buyers for your car. The right price for your old car should be determined based on the age of the car, the kilometers it has run and also the overall working condition of the vehicle. The older the car, the lower the price. The year of manufacturing, the model, whether it is a basic model or a high-end model also determines the price range of your old car. Keep all this in mind when deciding the price for your vehicle, and make sure your price is competitive too. Quote a price lesser than the others, and you will have a better chance of selling the vehicle.
Once you get the vehicle ready and decide on a price, post an advertisement online and in the print media, if your budget allows. Post your advertisement on all free sites online and give your contact information too. Mention the price and also include as many photographs of the vehicle as possible. Complete information about the vehicle improves the chances of sale.
Make sure you mention any flaws like dents or scratches on the car before hand. At the same time, if the repairs are minor, get them rectified for better offers. You can also advertise in classifieds and auto magazines or put up notices in your local community center. Inform your friends and acquaintances too.
Be open to negotiation
While you should have a clear idea about how much you want from the sale of the vehicle, being too rigid is not a good idea. Fix a price and keep it open for negotiation. For instance, if you are expecting at least $15,000 on your old car, it is best to quote $16,000 or so and negotiate rather than quote $15,000 and not negotiate.
At the same time, be open to all kinds of offers, depending on the market. If there is no demand for vehicles like yours, you cannot afford to ignore or reject every offer that comes your way. Talk to all, and compare the options you have and sell to the best payer.