All posts tagged selling auto

Millions of cars get sold every day, but still, most car owners usually don’t know anything about how to actually do it. Most of the time, it’s one of those learning by doing situations where everyone learns how to sell a car by getting a raw deal and losing money on a transaction.

Luckily, there are more resources available online than ever and sometimes the whole transaction can be done that way too. This means that you can learn from those who have sold used cars before and avid their mistakes.

Knowing the market

The first thing to do before deciding on a sale is to know the market you’re working in. Knowing your customers and their needs is the only way to set a fair price for the car and make a profit at the same time.

It’s best to consider how the car will be used. Vans and trucks are a great option for those with a small business or a farm, while sedans are mostly sought after by families with kids. Have in mind that a car isn’t just a mode of transportation – it should fit into the lives of those who purchase it.

Looks matter

There are a lot of things to consider when buying a car and a lot of them are quite technical and complicated to get into. However, one thing that’s simple and effective in increasing the price and the chance to sell a used car is often overlooked.

Just by taking care of the car and keeping it clean and neat you’ll be able to significantly increase its value and make it appear more presentable. Invest a small amount into cleaning the car and it will pay off in the end.

Third parties

There’s much more overhead in selling a car than anyone anticipates and that can significantly affect the bottom line. Using the services of a third party to find customers or to inspect a car usually comes out of your own pocket. The same goes for taxes and other legal obligations.

That’s pretty much the point where car owners ask themselves “why don’t I sell my car online” and an increasing number of them is in fact doing just that. It provides a large enough customer base and an easy way to communicate with them and cuts out the middleman.

Creating an ad that sells

Sometimes it’s enough to simply describe and showcase the car to make a sell, but most of the times you’re also going to need an ad that captures the advantages of your car as well as its ideal owner. Besides the common information you should also take care of the working because it can communicate a lot about your goals.

For instance, OBO (or best offer) shows that you’re willing to lower the price if needed. On the other hand, “must sell” is a good way to communicate urgency.

Showcasing the car

 It’s a risky business buying a used car. It can be perfect on paper but have a variety of problems obvious as soon as you sit behind the wheel. That’s why you need to showcase the car in person and allow a potential buyer to take a test drive.

If you feel uncomfortable about a bunch of strangers coming to your home, you can organize a test drive on a neutral site that can showcase how the car drives on an open road and in a city. Have in mind that buyers will also evaluate you and not just the car so try to be presentable.

Negotiation

In the end, the price you’ve set is rarely the one that you can agree on. Most of the time, you’ll have to negotiate and find the price that works for both parties. There are no real rules as to how this works, but there are a few guidelines to follow.
Decide on the amount you don’t want to bellow of and stick to it no matter what. That way you won’t lose on the deal, regardless of how low you go.

Selling a pre-owned car requires a little bit of planning and investing in order to get the best price. However, the negotiation itself isn’t about planning, but about personal relationships.