Selling your car may be the fastest way to get out of a debt and clean up your financial mess. Consequently, it can be confusing, overwhelming and a little bit scary. Selling the car privately is likely to get you the best price as long as you can devote some time and effort organizing your sale.
Here are some simple steps you can follow to ensure that you are ready to sell your car.
1. Know the market and price your car
Before you can make a decision on selling your car, first, you need to perform a research on what your current make and model are selling for. There is a difference between what your car is selling at, and what is may be valued at. However, this doesn’t mean the car is selling for less than the reported value but rather has to do with the level of demand in the current vehicle. If there are a lot of people wanting the car, it may drive the selling price above the current value and if not many people want it, it may sell below what the current value is. The best way is to be guided by online sites to make selling decisions.
2. Get your title ready
If you are selling a car, you either own the car or have a title, or your bank has a lien on your vehicle and you will need to release the title to a new buyer. Lien in simple terms means a financial institution or an individual owns the rights to your car’s title. You need to have the title ready for the buyer once you receive the payments. Once you- the seller has signed over the back of the title and signed recorded the current odometer reading of the title, the buyer now takes ownership of the vehicle.
3. Get your car ready for sale
A car that looks like a piece of crap will also sell like a piece of crap. Ensure your car looks amazing ahead of sell. Clean it really good, with records estimating a used car sells 10 percent more if it is in immaculate conditions. A car will always sell better if it is well maintained – you also have to show proof of maintenance records.
4. Now Advertise
When it comes to advertising, many options exist. You may consider selling your car online on various car websites or taking the car to a local yard for viewing. Once you get the buyer, ensure a safe transfer of payments or choose a neutral location if money has to be delivered- and also for a test drive. For a test drive, check the car yourself, double check the insurance and be the passenger as you let the buyer check the vehicle.
In the bottom line, understand tips and tricks of negotiating with the seller. There is the silent pause- if you are not comfortable with the offer, simply say no and pause. The proactive rule where, instead of waiting for the buyer to ask you the lowest you are willing to go, you can just ask the customer what’s the most they can go. Finally, there is the walk away method if you are not comfortable agreeing to the offer. The walk way method creates demand as you let the buyer know the car is off the table and that the customer is missing out.