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The first car you bought won’t be the last, unless of course you’re so attached emotionally to it. Even then, there will come a time when you will have no choice but to sell it off, usually at a lower price. Whether you’re upgrading to a luxury vehicle or downsizing to a more basic ride, selling your used car won’t always guarantee a good return. Modifications may have led to a significant devaluation, and appraisers may suggest selling at a loss.
However, this shouldn’t keep you from recovering the highest amount of profit you could get from your used car. No matter what people may say, you can still sell your vehicle at an amount that’s not only fair for buyers but also large enough to fuel your next goals. All it takes is exploring a few key tips that will help you sell your car for more than what people think it’s worth.
1. Get a Proper Valuation
Before anything else, you should have a good understanding of how much your car would sell based on market values for similar models and types. Apart from enlisting the help of a mechanic, especially one who handles cars from certain manufacturers, you may also do independent research so you will have a more accurate estimation.
Countless online tools provide a quick means to determine an initial selling price, but to be sure, you may still have to scan the local marketplace and take a look at the prices. Talk to dealers and ask about factors that justify a higher (or lower) market price. You should also factor in the number of times you have turned your car in for repairs and maintenance. By doing so, you could get a better price range that’s more or less higher than what others say.
2. Keep It Prim and Proper
Some buyers are more likely to put a good offer on your vehicle if they like what they’re seeing from the inside and out. This is where you will have to spend a great deal of time, money and effort to make your used car market-ready. However, you don’t have to spend a large amount to make it presentable.
Unless you’re thinking, “what if I sell my McLaren as is for instant cash,” you need to have your vehicle undergo detailing. Change the upholstery and give the interior a deep cleaning to eliminate odors and give the exterior a fresh coat of wax that will help it stand out on social media. When done right, these improvements will give you greater convincing power.
3. Pick the Best Season for Selling
Coupled with a fresh interior and exterior, timing can be a significant factor in pricing your vehicle. It won’t do you any good to assume that there’s always a high demand for used cars all year round. You have better chances at selling at a higher price during seasons marked by a surge in demand and a lack of available listings in your neighborhood.
For the most part, you will want to time your sale at the start of spring, which is when parents shop around for their graduating teens’ first vehicle. On the other hand, the last quarter of the year won’t be ideal, considering household budgets are set aside for holiday preparations, thus indicating a lower demand and a decrease in prices.
4. Make the Most of Your Negotiation
Don’t let the excitement of receiving an initial offer from a motivated buyer keep you from negotiating a better deal. There’s always going to be room for further negotiation that will lead to better returns. Showing full documents and maintenance records won’t be enough. Be prepared for meticulous buyers who would justify a lower offer for even the slightest issues.
In this case, it would be best to talk about these issues at the beginning of the negotiation, just as when you present the initial selling price. Expect the discussion to go on and on if the buyer is highly interested. You can push for a close by accepting better offers from other buyers, or showing them that you’re eager to walk away.
Endnote
No matter how sentimental your used car seems to you, it matters to make sure it sells at the best possible price point. By keeping these tips in mind, you can walk out of a successful transaction with enough funds to fuel the next chapter of your life as a motorist.
The post How to Get the Most Money from Selling Your Used Car first appeared on Clean Fleet Report.
