12 Hacks to Get a Better Price When You Sell a Car Privately
Are you planning to sell your car? Before you do, you might want to learn a few tips on how you can get a good price for your old vehicle. Here are 12 things you can do when preparing to sell a used car.
1. Clean the Car Thoroughly
You’d want the vehicle to look as presentable as possible. Even if it’s already used, buyers will still expect it to look good. See to it that the car get a thorough cleaning inside and out. If you can get a cleaning expert to do the job, then that would be better.
2. Get Damaged Parts Repaired
Before advertising your car, have an auto mechanic check it for damage. If he finds any, get it repaired so that the car will be in the best possible condition when potential buyers view or test drive it. You may have to spend some money for repairs but if the car is in great shape, you can sell it at a better price.
3. Settle Any Outstanding Finance
You can’t sell the car if you’re still under a car finance contract. If you have to sell the vehicle, you need to settle any outstanding balance with the car finance company first. You may also ask the lender what the arrangement would be if you were to sell the vehicle. The important thing to remember here is to ask for permission from the car finance company first.
4. Price the Car Fairly
To attract serious buyers, your car should have just the right price tag. If you want to get an idea of how much you should sell the car for, check out online car dealerships selling similar models. If you set the price too high, it might take a while for the car to be sold. So do some research first to determine the right asking price for the vehicle.
5. Provide Essential Details
When advertising your car, don’t forget to include essential details such as your contact information and location. You should provide a telephone number or mobile number and even your email address. This way, potential buyers will have options on how they can get in touch with you. Providing your location is also crucial for interested buyers so they can view the car and assess if they want to push through with the purchase.
6. Don’t Make Inaccurate Claims
Don’t make the mistake of making false claims about the vehicle. If you do, buyers will know and will be more than disappointed that the car didn’t meet their expectations. Describe the car as accurately as possible and be transparent if there are any damage or other issues on the vehicle.
7. Prepare All Car Documents
When you’re planning to sell your car, make sure that all documents relating to it are ready and complete. Car buyers will most likely check them so it’s best if you can prepare them ahead of time.
8. Entertain Potential Buyers
You’ll be receiving a number of enquiries about your car. Another thing you should be prepared to do is to entertain potential buyers. They may ask a lot of questions about the vehicle. Be patient and be ready to provide them with detailed answers. You can also invite them to view the car or even test drive it. Your salesmanship is a huge factor in selling the car at a good price so put your best foot forward when speaking with potential buyers.
9. Beware of Scammers
There could be scammers pretending to be buyers but their goal is to get important information about the car such as the VIN. Scammers usually ask for information over the phone. But they may also view the car personally. If they ask to see the car documents, don’t allow them to take any photos of it.
Also, be wary of emails from other locations or even abroad saying that they’re interested to buy the vehicle. They may even promise overpayments and bogus escrows. It’s best to transact with a buyer personally at your selected location. A real buyer would want to see the car to check it and drive it themselves.
10. Allow Test Drives
Any car buyer would want to test drive a car first before buying it. Before you hand over the car keys, get the person’s contact details such as their name, phone number, and address. Also, ask to see their driver’s licence and check that they are insured before they test drive your car. A genuine buyer will have no problem complying with all these steps. Of course, always accompany the interested buyer during a test drive.
11. Have a Margin for Haggling
Since you’re a private seller, the buyer will feel more comfortable haggling. When you’re setting the price for the car, make sure that there’s some room for the buyer to haggle. They will feel satisfied knowing they got the car at a lower price but you would still be within the price range that you want. It’s a win-win situation for both of you.
12. Choose an Easy Payment Method
The safest way to get paid is through cash which can be handed to you at the bank. An online bank transfer is another option. What’s important here is that you have to make sure that the full payment is already in your bank account before you let the buyer drive the car away. Most bank transfers are completed within one business day or even instantly.
These 12 tips will help you get a better price for your car. Remember to set a fair price and stick to the facts when advertising. Don’t make false claims about the car. When entertaining potential buyers, be careful about giving away important information about the vehicle.
If the buyer wants to know more about the car, you can ask them to come over so they can check it themselves. If they want to test drive the vehicle, see to it that they have a driver’s licence and are insured. Don’t let them drive the car alone. Always accompany them. Keep these tips in mind and you’ll be set to sell your old car.