Ready for a New Car – Tips for Selling the Old One
Ready for a New Car – Tips for Selling the Old One
The very reason that you need a new car, may be an indicator that the value of your current vehicle isn’t that great or at least that it’s far from what it was when you first purchased it. On the other hand, you can still sell it at a fairly decent price and, in this way, cover a part of the expenses for your next vehicle. With some effort and knowledge, the price that you manage to get out of it might greatly vary. Due to the fact that the resource and time investment you have to make isn’t that great, the ROI that you can expect from this project can be quite staggering. Who knows, you might even get to afford a car you believed is outside of your price range. Here are several tips for you to consider.
Find an average price range
The state in which your car is may sway the price one way or another, however, there’s only so far you can go. Keep in mind that the potential buyer is bound to do a research of their own. So, let’s say that the market value of your old car is at about $5,000. If your car is in a particularly good shape, you could probably get about $5,500 to $6,000 for it but going as high as $8,000 for it would be simply absurd. Regardless of how much you value that car, you need to understand that it doesn’t have the same sentimental value for the buyer (or any for that matter) as it does for you. As for the investments you’ve made over the course of years, this probably won’t be able to contribute much to the price.
Clean the vehicle
While this should go without saying, there are some who believe that buyers see everything through figures and features. In reality, this is as far from the truth as it gets. A subjective impression that a person has of the vehicle is far more important. After all, any salesman (regardless of the commodity) knows that you’re not actually selling an item but an idea, a lifestyle. That being said, a clean and tidy vehicle greatly helps with the immersion. This means that it doesn’t only boost the price of the vehicle but your ability to sell it, in the first place.
Find a broker
The question of the price is the one of negotiation. Here, it all comes down to your prowess and persuasion techniques. On the other hand, it’s also about the general knowledge of the market, seeing as how the person who possesses the latest and the most accurate information always has the edge. This is why some companies specialize in this field and offer their services to individuals. In other words, deciding to buy and sell cars via an agency like Carbiz can turn out to be more lucrative than deciding to go out on your own.
Check your trade-in options
You don’t actually have to sell your vehicle and use this money to supplement your budget when you can agree to a much simpler exchange option. Namely, if the dealership accepts this kind of a deal, you can always look for a way to trade-in your car and pay for the difference. The problem with this lies in the fact that most dealers are reluctant to pay the full value of the vehicle. One trick that can come in quite handy here is the fact that you can separately negotiate for the value of your old car and the value of the vehicle you intend to purchase.
Conclusion
At the very end, there’s one more thing you need to keep in mind – don’t wait for the last possible moment to sell your car. Being desperate is a feature that shows both on your face and in your stance and is something that will make it much harder for you to gain leverage. Moreover, it will compel you to agree to offers you wouldn’t even consider under different circumstances. In other words, think about this in time.
