Once you decide to sell your car, it can be a daunting task, especially if it is your first time. When selling a vehicle, there are several considerations to ensure that you will get as much from the sale. Determining the ideal sales price can help pay off your previous loan or even make a sizeable down payment on a new car.
You have different options, from trading it to a car dealership to selling it yourself to a private buyer. Although you can get the most money if you sell your car yourself, it requires preparation and patience than trading it in.
Be ready to negotiate, avoid intimidation, and be willing to decline a lousy offer. Let us check out essential tips that you should be familiar with when selling your car and learn about the best time to sell your car here.
Deciding On How To Sell Your Car
Depending on your decision, there are different ways to sell your old Ford or Honda. Remember, though, each has its advantages, drawbacks, and potential to receive the most cash.
- Dealer trade-in. A hassle-free way to sell your car is to offer it as a trade-in to a dealership where you will buy your new car. Although you will not get the most cash from the trade, it can help save on the sales tax. However, you will not always get the best price for several reasons.
- Instant cash offer. A new way to sell your vehicle to get a reasonable price is via an instant cash offer (ICO). With this method, you can do it online, at the dealership, or over the phone. You will provide your vehicle’s identification number (VIN) or license plate number along with its mileage and condition, and you will receive an instant purchase offer. If you provide accurate information about your vehicle, the higher the chances for the initial request to be the amount you will receive.
- Private sale. If you are going to sell your vehicle privately, it can potentially provide you with the highest price, but it will take a lot of work. You will spend a lot of time preparing your car for sale and gathering sales paperwork. Additionally, it can be tiring to meet with potential buyers and complete the sales documents.
It would be best to look for the following paperwork before you list your vehicle for sale.
- Title of the car. Consider it as the pink slip, which provides you with the legal right to sell your used car.
- Check with your lender. In case you still have remaining payments on your vehicle’s loan, call your lender to learn how to handle the sale.
- Check the DMV online. Do not forget to check the state’s motor vehicle department for the necessary paperwork to transfer ownership.
- Get a vehicle history report. You can get a statement that you can show to potential buyers. The document provides answers to possible questions such as accidents and the number of owners.
Set An Asking Price
The priority is to make your car stand out from other used cars for sale. It would be best to estimate your car’s value so you can set a fair “asking price.”
Do not forget to check the value of the car. Check also the price of similar vehicles in the local ads in your area. It is best to set your price slightly above the present range value but within a good deal to leave space for negotiations.
Boost The Curb Appeal
The ideal way to sell your car is to provide it with a boost on its curb appeal. There is no need to fix every minor scratch or dent but wash and vacuum to remove any junk or debris.
It would be best to prioritize details that a potential buyer will see upon approaching the vehicle, opens the door, and slides into the driver’s seat. Ensure that your car exudes a positive impact, and hopefully, potential buyers will picture it as their own.
Create Attractive Ads
Make sure that you will get good photos. It will help build confidence in potential buyers’ minds and make your car stand out from other used vehicles in the local market.
Take a photo of your car in a lovely location, ideally early in the morning or late in the afternoon for the best lighting. Move around the vehicle, taking pictures from different angles. As for the interior of your car, take photos of the driver’s seat, the back seat, and the trunk. Do not forget to take pictures of the odometer to show the current mileage, the tires, and the engine.
When the time comes when you want to get a new car, selling your old one is a task that you can readily handle with several tips. With the help of these basics when selling a car, you are on the way to get a great deal on your used car in no time.