The time for selling your dear old car is here.
But if you’re thinking about setting it aside to buy a new one…
Well, you’re probably going to find yourself in a pickle. Especially if it’s your first time.
That’s because there are more than just a few errors someone can make when selling their car… from setting the wrong price in the first place, to leaving food scraps all over the mattresses.
So, if you want to hit a good deal, you have to think like a salesperson. You have to be knowledgeable and fully prepared.
Here’s everything you should know to avoid when selling your car…
Not Researching the True Value of Your Car
If you want to get a good bargain, you have to set a price that is “just right.” and you can only do that when you truly know the right value of your car in the market.
Many websites about selling and buying cars have a car valuation tool installed and can give you many prices according to the market they’re buying in. You can use this feature to get a good estimate of what your car’s value is in the real market.
Another good idea here is as you are trying to get different ranges of prices from different places, you can also try to search for cars which are similar to yours in age or price so you can know what people are expecting and get a feel of the market.
Repairing the Car Before You Sell it
Remember, the people who want to buy your car are looking for used cars. And that’s the main reason you’re not going to raise your car’s value much higher when fixing something broken. Whether mechanical, or simply a broken radio, you’re not getting back what you put in.
But keep in mind some repairs are necessary. Such as repairs that directly affect the car’s look and the first impression the buyer is going to have on it. For instance, a broken tail light, that repair is a must.
Posting Bad Photos and Being Uninformative
You have to take good-quality pictures of your car looking fresh and clean, with about 28 high-quality pictures of the interior and exterior. You must include everything; the dashboard, stick shift, back seats, wheels, rims, all you can do to give a potential buyer what they want to see.
You don’t want a potential buyer skipping out on your car – they might be just the one.
They also might be skipping because you’re not answering inquiries properly… and here’s one easy way to do so…
When you post about the car you’re selling on social media, you’re going to get tons of inquiries, and probably from people who aren’t even serious (people who just want to get a feel for the market). Your best option is to prepare a list of your car’s details. An optimal car details list would include:
- Make and model
- Year of making
- Trim
- Mileage
- Options and add-ons
If you have a new set of tires or have changed the engine oil recently, you might want to throw these two in your list as well because this is always a plus.
That way, you won’t be wasting people’s time as well as your own.
Being Scammed
There are many scammers out there trying to take advantage of people, whether trying to buy your car for small money or straight out handing you fake bills.
When you sell your car yourself, the best course of payment is cash. But still, you have to be careful and watch out for counterfeit bills.
Accepting a personal check is like signing up for disaster as well – these are easy to forge.
Your best option for accepting payment would be to go to the bank with the buyer and make sure everything is in place, the money is present, and close the transaction on the spot.
Making Sure You’re Safe
No matter the crime percentage in your country, you never know what might happen when someone you haven’t seen before rolls up for a test drive.
Make sure you’re the one who decides where the transaction takes place. Your best option would be somewhere public, well-lit, and where people can see you. Try to make it so there are security cameras around you from nearby stores or public places.
Definitely do NOT let the other person take your car for a test drive alone. Imagine yourself standing there, stranded, waiting for someone to come back with your car, and when you realize they might not, your heart will skip a beat.
As funny as it is risky.
What you have to do here is take a picture of your car and send it to someone you closely know and inform them you’re going to be back when the test drive is done and to contact the police if you didn’t.
Yes, it might be too much. But entering the car with a stranger is a risk in itself.
Know Your Papers
The paperwork that goes into a car transaction depends on the country you’re in. Still, you have to ask around and make sure to contact someone who has done a deal before so you can know what goes into it.
Remember to keep your personal information a secret on the internet when talking with potential buyers until you make sure they are serious. And be serious about it, don’t let your emotional attachment to your car affect the price when you’re going to sell your car.
