Here are simple steps that will help you turn
your used car into cash. Everything from pricing to advertising and negotiatingis covered in this short, easy-to-follow process.
Know the
Market
Is your car going to be easy to sell? Is it a
hot commodity? Or will you have to drop your price and search out additional
avenues to sell it?
Here are a few general rules to answer these
questions:
·
Family sedans, while unexciting to many, are in constant
demand by people needing basic, inexpensive transportation.
·
The sale of convertibles and sports cars is
seasonal. Sunny weather brings out the buyers. Fall and winter months will be
slow.
·
Trucks and vans, used for work, are steady
sellers and command competitive prices. Don't underestimate their value.
·
Collector cars will take longer to sell and
are often difficult to price. However, these cars can have unexpected value if
you find the right buyer.
Your first step is to check on-line
classified ads to see how much other sellers are asking for your type of car.
Keep in mind that dealers will have different prices than private party
listings. The eBay.com classifieds and other Internet sites allow you to search
with specific criteria. For example, select the year and trim level of your car and see how many similar
cars are currently on the market. Take note of their condition, mileage,
geographic location and selling price so you can list your car at a price that
will sell it quickly.
Give Your Car "Curb Appeal"
When people come to look at your car, they
will probably make up their minds to buy it or not within the first few
seconds. This is based on their first look at the car. So you want this first
look to be positive. You want your car to have "curb appeal."
Before you advertise your car for sale, make
sure it looks clean and attractive. This goes beyond just taking it to the car
wash. Here is a to-do list to help you turn your heap into a cream puff:
·
Wash and vacuum the car and consider having
it detailed.
·
Make sure your car is both mechanically sound
and free from dents, dings and scrapes.
·
Consider making low-cost repairs yourself
rather than selling it "as is."
·
Shovel out all the junk from the inside of
the car. That way, when a prospective buyer goes for a test-drive, they can
visualize the car as theirs.
·
Wipe the brake dust off the wheel covers and
treat the tires with a tire gloss product.
·
Thoroughly clean the windows (inside and out)
and all the mirrored surfaces.
·
Wipe down the dashboard and empty the
ashtrays.
·
Have all your maintenance records ready to
show prospective buyers.
·
If the car needs servicing or even a routine
oil change, take care of that before putting it up for sale.
·
Have your mechanic check out the car and
issue a report about its condition. You can use this to motivate a buyer who is
on the fence.
·
Order a vehicle history report and show it to
the buyer to prove the car's title is clean and the odometer reading is
accurate.
Create Ads That Sell
Think about what you are telling people when
you write your ad. Little words convey a lot. Besides the price, your ad should
also include the year, make, model and trim level of the car you are selling
along with the mileage, color, condition and popular options.
When creating "For Sale" signs or
putting an ad online, you have an opportunity to show how eager you are to sell
the car. Do this with the following abbreviations and phrases:
Must Sell!: This often means the seller is leaving town and
needs to dump the car at a fire sale price.
OBO: This stands for "or best offer" and it
indicates that you are willing to entertain offers below the stated price. This
usually means you are eager to sell the car.
Asking price: This also communicates the feeling that you will negotiate,
but it is one notch below OBO on the eagerness scale.
Firm: This word is used to rebuff attempts to negotiate.
It indicates that you aren't in a hurry to sell the car — you are most
interested in getting your price.
