Gone are the days when people used to be happy with one or a few cars that they kept using for years. Modern lifestyle is attracted to cars that look nice and beautiful and sticks to it as long as it retains its appeal to them. Every other day you will see the launch of some new models of reputed car brands that create compelling attraction. With the easy availability of car loans, the trend of replacing cars frequently has become a part of modern living. As soon as car owners find some other vehicle that attracts them more, they are ready to replace the old car with a new one. That has led to the boosting of the used car market that has now even gone online.
Indeed, what they say is just one of the many reasons why people decide to sell their cars. To accommodate a growing family, the demand for a new spacious vehicle seems quite reasonable. You might want to celebrate your new plump job by buying a new sports car that outshines what your friends have. If you have asked yourself ‘should I ,’ and the answer is in the affirmative then you must immediately prepare for it. When you feel the urge you to sell your car, keep in mind that you have to make it a very pleasing experience for you as well as for the buyer. By going through this article, you should get some idea about how to sail through the process smoothly.
Ascertain the value of your car
Selling is an art, and the successful seller knows that the best deal is when they can create a win-win situation. When both buyer and seller are happy thinking that they have got the deal that they wanted, it creates a pleasant transaction. The price you place on the car is the single parameter that influences the quality of the transaction. Since you want to sell the car and buy a new one, your primary objective must be to recover as much money as possible from the sale for funding the new vehicle. However, determining an optimal and justified price is far from easy.
Where to set the to buyers is a question that sellers have to find the answer. Putting the amount too high will drive away buyers and setting it too low will strain the funds that you are aiming for. One way could be picking up the price from comparable cars on listing sites, but unless it is a possible price for your region, it does not make any sense.
Factors to consider
Numerous other factors influence the value of the used car, but for reaching a realistic value the history of the vehicle, its condition and the distance run as recorded by the odometer are the most important ones. After you have derived some benefit, before finalizing it, use some tool that takes into consideration the selling price of comparable vehicles very recently. The tool makes necessary adjustments to the number you have decided by factoring the registration information and the history of the car including damage history.
Think about other factors like the manner of use of the car, whether anyone ever used it for rental purposes like a taxi, the accidents it has gone through and did smokers ever board the vehicle. Every feature that is special to the car enhances its value, and you should know the high points to jack up the price.
Channels for selling cars
Where and how you can sell your car is what you must know so that you can decide which channel would suit you best.
Private sale – When you sell your car by yourself you get the best price because no third party is involved in the process. However, be ready to devote time for it because you have to go through the entire process of marketing comprising of advertising, attending to buyer’s inquiries and responding to queries promptly over emails, messages or social media. Creating advertisement content is also very critical because the better you can describe the car, more buyers it would attract. Being physically present during inspection of the vehicle by prospective buyers and arranging for test drives is a time-consuming process but facilitates selling for a reasonable price. Lastly, you must devise a safe payment method so that you receive the money at the time of handing over the car.
Selling to a dealer – This process entails that you enter into a buy-back arrangement with the dealer from whom you are buying the new car. This method does away with the bulk tasks of selling because the dealer is the buyer who examines the vehicle on their own without your involvement. It saves time and the money spent on advertising and allied marketing expenses, but the price you get will be lower than what you would have got through a private sale. The deal does not have any scope for negotiation as the dealer knows that you would be buying a new car from them only.
Online car buying sites – Online car buying websites provide excellent options for selling cars comfortably while sitting at home. A simple three step process begins by telling about your car in as much detail as possible to the car buying website. Provide specific and detailed information about the condition of the vehicle so that the description creates an image of the car that the buyer understands in the right perspective and can give the best offer. Submit proof of identity and vehicle ownership too. In the second step, the buyer evaluates your submission and comes back with an instant offer. The offer remains valid for two weeks, and you are under no obligation to accept it. In the last step, if the deal gets through then, you receive the payment, and the buyer takes away the vehicle.
Consider what suits you best and then it is just a few weeks wait before your car changes hands.