The easiest way to do this would be on line, find out what comparable cars are going for. Take into account mileage, wear and tear, and wrecks the car has been in, repairs that need to be done, and other things of that nature. Pay close attention to similar cars in the market, take note of the range these other cars are being sold for. You may also want to take into consideration the type of car you are selling, for example while trucks and vans are constant sellers, convertibles will be easier to sell in the spring and summer months. When checking out the market, buy here pay here car lots are probably not the best place to compare prices. You’ll be better off checking out nada.com for accurate numbers to go by.
Pricing your car for the sale
You will want to ask for more than you need for the car, this will allow you to breathe a bit easier during negotiations. Be cautious, many buyers will do just as much, if not more, homework than you have, they will know what a fair price is. Again, look at similar cars and price accordingly. Take into account any upgrades your car has, like a CD player, or moon roof. Don’t kid yourself, if your car isn’t in the best condition it will not sell for a very high price.
When an interested party comes to look at your car you will want to make sure that their first impression is a good one. This is not limited to a wash and dry. Get the car washed, waxed, and detailed. Make sure the car is running well, take it to a mechanic and get a report about its condition, get what you can fixed, either that or sell the car “as is”, which may deter some buyers. If the body is dented or scratched you may want to get these issues fixed as well. Thoroughly clean out the car, make the buyer feel comfortable while they look at it. Wipe down and clean the tires. Clean all the glass, including mirrors. Wipe down the dashboard and clear the ashtrays out, if you are a smoker you may want to freshen the upholstery with a scented cleaner and air out the vehicle. Have a sellers folder ready with all of your maintenance records, logs, and receipts to easily shows the buyer. You may also want to have a Carfax report available for the buyer to look at, this will ensure that the title is clean and that the odometer is accurate.
Advertising will be the biggest key to selling your car, while the traditional for sale sign and newspaper ads work, you may get many more results form out online database. Place an ad and you will have the nations car buyers at your disposal. This will help bringing in buyers by allowing the buyer the ease of shopping online. This will also ensure less q&a sessions during the sales process. Tell anyone who will listen that you have a car for sale and let your friends and family help you get the word out. The buyers first impression of you is just as important, if not more important, than their first impression of the car, so be polite, courteous and nice while dealing with prospective buyers.
Use terms that will help your car sell
Make your ad clear and easy to read. Use terms that will clarify exactly the type of deal you are willing to make. Must Sell – Dire to get the car off your hands OBO – “Or Best Offer” This means you are willing to haggle, which may being in more buyers Asking Price – Again the willingness to negotiate is expressed with this term Firm – You are most interested in getting exactly what you want form selling the car. You will want to also include the mileage, year, make, model, color, condition, and any options that the car is equipped with.
Showing the car
While showing the car you are also presenting the person who has kept the car up and running, so you want to make sure that you come off as someone who can be trusted. Make the buyer feel comfortable, remember that they are about to spend a lot of money on this purchase, so answer all of the buyers questions as honestly and as politely as possible. If you feel uncomfortable showing you car at your home, ask to be met at a public, well lit location. Trust your instincts, if you have a bad feeling about a buyer while on the phone with them, ask to meet at the public location.
Keep in mind, that even if you do meet some other place that the buyer will see your address on the title, if you sign it over to them. When it comes to a test drive, make sure they have a valid driver’s license. Ride along with them, to ensure you car not being stolen. This will be helpful for the buyer if any questions arise, plus you probably know the area better than the buyer so you may have to guide them. If the buyer would like to take the car to their mechanic, if you have a report form your mechanic, that may curb this choice. But, in the event that you do not have a report or that the buyer would like a second opinion, that is truly reasonable. If you have a bad feeling or still do not trust the buyer decline the offer, or suggest that you tag along. Remember, selling your car should be simple.
Haggle, Haggle, Haggle!
All the buyers interested in the car will know where you stand when it comes to the price, they will remember the OBO, Must Sell, Asking Price, or Firm that you added to your ad. After the test drive, if the buyer seems to like the car you can expect them to make you an offer. Use you intuition and try to ensure that you both are on the same page. If you have left yourself some wiggle room, don’t jump to your lowest price quite yet, if you offer to take even $100 off the price, this may just be what the buyer wants to hear. Then again they may want to pay much, much less, in this instance, refer to the mechanics report, the Carfax report and all the options to ensure your best price. Remember that the buyer may be bluffing, so be as honest as possible, if they are still not sold give them you final price, and leave it to them. When the car is first put on the market stay as firm as you can on the price, if the car does not sell in the amount of time you want it to, lower the price a bit, but keep in mind that you have a price that you cannot budge from.
If your car is in good running order any issues the buyer brings up about the car can easily be discussed, especially if both mechanics have looked at the car, and if you have a Carfax report. If you stated that the car is to be sold “as is” in your ad, refer to that while discussing this matters at hand. If the car is very old, you must understand that it will be more likely to have problems, if the buyers mechanic finds a huge amount of problems, accept what you seem is fair, but draw the line when it’s getting to close to comfort. You can adjust the price to make up for the issues but don’t let the buyer scam you, make sure you know what you are and are not willing to take.
The End Game
Check with your states DMV to ensure that the sale goes smoothly and legally. After you have the money from the sale, cash or cashier’s check is the best bet, record the odometer reading, and sign the title over to the new owner. A new title will be issued and sent to the new owner. If you still owe money on the car your best bet is to finish the sale at the bank where you loan in handled. Call the bank before hand and have the title ready. After the money has changed hands and the loan is paid off you may then sign the title over. If your bank is out of state, you must go to the local DMV and get a temporary operating permit based on the bill of sale. After you pay off the loan with the money from the sale, have the title mailed to the new owner.
After it’s all done
In most states used cars are sold “as is”, with no warranty. If the car was inspected by the buyers mechanic, then you have done all you can to protect yourself and the buyer. Make sure you did everything correctly and you can sleep with ease knowing you’ve sold you car in the correct manner.