Because of your work-from-home setup, you may have just saved some money to replace your old car. But, if you can sell your old ride, you can have more money to pay for a better model.
If you are not a car enthusiast, it may take you many hours to research which car can fit your taste and model. Aside from worrying about the proper car specifications, you would also have to think about which dealership you will buy from.
Another thing that you should be thinking about is how you can get the most value out of your current car. Some car dealerships can rip you off if they see through you, not knowing the actual state of the vehicle. It is why you should exert every effort to ensure that you get the most out of selling your old car.
Here are some tips from renowned car dealers to follow when selling your old car for top dollar.
Sell your car privately
Trading in your car may have crossed your mind, but you do have to pay for the convenience. But, when you sell your car privately rather than trading it in, you could quickly get at least 15% more in the amount you can sell it for.
If your car is six or seven years old and carries more than 160,000 kilometers in mileage, a dealer won’t wash it and put it on display. The dealer will instead sell it to a wholesaler, where they might get a very minimal amount for it.
When you sell your car on the private market, as long as it’s clean and in good working condition, you can get more than what a dealer can get when they sell it to a wholesaler.
Have the interior cleaned and detailed
One of the most efficient ways of upping your car’s value is getting it into tip-top shape. Nobody would put down a considerable amount of money for a vehicle that’s not even halfway presentable.
Suppose you can’t spend that few extra bucks for taking care of minor repairs, at least wash and clean the whole car before posting pictures on the internet. Of course, you don’t have to take it to the carwash. You can just vacuum the inside and wipe everything down, so it looks decent enough for people to make a reasonable offer for it.
Car stores have aisles dedicated to cleaning, so it wouldn’t be a hassle to go out and buy some things to get your car cleaned. However, if you don’t know where to start, a wheel cleaner and a heavy brush can be your best bet.
Do exterior detailing
Exterior detailing is just as important as interior describing as the outside of your car serves as the first impression for potential buyers. People wouldn’t want to offer good money for cars with paint scratches and dents.
Aside from giving your car a nice wash, you can also have the minor damages taken care of that can be well within your budget. You’d be surprised how expensive your car will look after you have the dents and scratches repaired.
Professional detail jobs are not always required when selling your car. For example, if you are selling a relatively old model, it may not be worth it. However, it would be okay to invest in pro detailing when you are pushing to sell a higher-end car with low mileage.
Present receipts and proper paperwork
One thing that gets buyers to trust you as a car seller is presenting them with an organized folio of documentation and receipts regarding ownership and the corresponding work done on the car.
Hopefully, you have kept most of, if not all, of the receipts that you had for the attachments and work that you had done.
It is useful, especially when you need to prove that some parts installed on the car are premium installations that increase the vehicle’s value, such as a high-quality timing belt. In case you don’t have a copy at hand, you can maybe contact the shop you went to so that they can provide proof of purchase for you.
Take good quality photos
People nowadays look for anything on the internet, even cars that they would like to buy. If you intend to sell your vehicle, read up on basic photography and what makes up a good photo for advertisements.
You don’t need to be overly technical with it. You also don’t have to use a high-end camera. However, you should at least frame your car and highlight its good points. Experiment with different compositions and check which pictures would convince you to buy your car.
Remember to photograph your car horizontally and to turn off the flash. They make better pictures that will increase the chances of people giving you an offer for your vehicle.
Provide your potential buyers with comps
Just like in real estate, you should provide potential buyers with a comparison of your car to other cars in the market. It will give them an idea of whether your vehicle is reasonably priced or not.
Some ways on what type of information you should give your buyer:
- Book value. It is the most common way of determining the value of your car, but it is wildly inaccurate. Book values are calculated using proprietary algorithms, but they fail to consider the current market situation, like gas prices.
- Comparable vehicles that are for sale. You can refer to other websites when buyers ask about the price of cars with your specific model.
Allow pre-purchase inspections
Independent car shops will look over your car to spot any issues seen with the eyes. They usually look at the shocks, brakes, tires, oil, and air filters. They can sometimes include a road test and an evaluation of the car’s primary functions.
The buyer should shoulder essential PPI. Then, if the mechanic sees any issues that should be repaired or taken care of, you can negotiate to drop your price or fix it immediately.
When you plan to sell your car, you must get the most out of it. You did invest a lot of time and money into it, so make sure that you get top dollar in exchange. However, potential buyers won’t easily give you a high offer if your car is not in the best shape. So, make sure that your vehicle is presentable enough for you to set a reasonable asking price.
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