To get a higher price for your vehicle it's best to sell your car privately. Depending on the age and condition of your car, you can pocket an extra 20% or more selling it yourself.Remember when you trade your car in you are getting the trade-in value.This is lower than the price you could get selling it yourself.When a Dealer buys your car they have to inspect it, clean it, advertise it and sell it while still trying to make a profit. Your lower trade-in value reflects this fact.By using the Internet, selling your car today is much easier than it has ever been before!
Online Advertising is much more cost effective and efficient than newspaper advertising.With most print type advertising you are limited in word count and pictures.They're usually not organized in any meaningful way so it's not long before users get frustrated and look elsewhere.The obvious answer is online classifieds which are superior, run much longer and are much more economical.Selling your vehicle online allows buyers from down the street or across the country to see your vehicle in full colour.You can even correspond through e-mail with potential buyers saving time and effort.
When you place an ad on MonsterAuto.ca you get 8 full colour photos and a web page to show your vehicle. With eight photos buyers get a much better idea of the condition of your vehicle.We've designed the process to get your car online to be as straightforward and simple as possible.All you have to do is enter your car info, upload your photos, and key in your contact info. You can then edit your vehicle ad yourself as often as you like until your car is sold. Then simply let us know you sold your car and we will remove it.
The process of selling your car doesn't have to be complicated.Here are 6 simple steps to turn your used car into cash.Everything from pricing, advertising and negotiating is covered in this article.
Step 1: Pricing your Car
The first step in selling your car is to know your market.In other words, is your car a popular model that many buyers will be interested in? Or will you have to drop your price to sell it because it's not the most desirable in its class?If you are trying to sell a convertible, you will typically want to sell it in the warmer months when the demand is highest.The same goes for sports cars, which normally sell for higher prices in the summer months.
Take a good look at the condition of your car so that you can set a realistic price for it. If you haven't already done so, make sure that you assess the car's current condition, and then decide if you want to spend on minor repairs in order to get a better sale price.
If you do decide to trade in your car at a dealership, remember that you can negotiate a fair trade-in price, however you cannot expect the same amount as what you could selling it yourself.There will be tax saving to be considered when trading in a vehicle since the value of your trade in will be deducted from the sale price of the car purchased.So you will be paying taxes on a reduced amount. Again you will have to consider if these tax savings outweigh the lower price you receive for your car.
Another important thing to remember when selling your used car online is to price it competitively.However leave a little room in your asking price for negotiating.In other words, ask for slightly more money than you are actually willing to accept.
Step 2: Get your Car Ready
The most important thing when a buyer comes to look at your car is that the car makes a good first impression.You should expect potential buyers to investigate the car fully.If your car is in the best possible condition, you will have a better chance of enticing potential buyers.
• Most Important…Make sure your car is clean inside and out.
• Inspect the car making sure it is both mechanically sound and looks its very best.
• Dig out all your maintenance records and have them ready to show interested parties.
• Get the engine oil changed.This is the first place savvy buyers will look to determine the condition of the engine and/or how well the car has been maintained.
Remember, first impressions are important, before you start showing the car to buyers, step back and look at your car one last time.These small steps may take a little time and effort, but don't cost much and can make the difference in selling your car sooner and for a higher price.Now that your car has been inspected and cleaned from top to bottom, you need to get the word out to prospective buyers.
Step 3: Where to Advertise Your Car
Some people try to sell their car by word of mouth however you will probably not find too many buyers within your circle of friends and family. That is why you have to advertise.There are a variety of places where you can advertise your car.
Here are your advertising choices:
• Online classifieds such as MonsterAuto.ca • Local newspaper classified ads, or other print type advertising. • A "For Sale" sign in the car's window with your phone number.
Remember, once you place your ads, people will begin calling or e-mailing to inquire about the car. Many people are hesitant to leave voice messages, so do your best to answer any incoming calls.
Step 4: Creating an Ad that Sells
Deciding where you want to advertise is one piece of the puzzle. The other piece is what to say about your car. To attract buyers to your advertisement, you will need to include your car's make, model, year, colour and options.
There is more to a winning ad than car specifications. Your ad should emphasize your cars biggest selling points. For instance, if the car has low mileage make sure to include this fact!Use the selling points that first attracted you to buy the car. Is the car very reliable?Is it fuel-efficient?These benefits should be emphasized in your ad, but only if they are truthful.
Abbreviations can be used to draw attention to your ad such as…Must Sell, OBO, Asking, or Firm.Phrases can be used when listing the condition such as…Mint Condition, Excellent Condition, Good Condition, or Sold "As is".
Step 5: Showing the Vehicle
Once prospective buyers start calling, be ready to answer questions.Prepare callers for what to expect when they see the car. Answer questions honestly through e-mails and over the phone.
Make an appointment with each caller for a specific time.Making an appointment will increase your chances of the buyer showing up, and if they're late, you don't have to feel obligated to wait for them. Make sure you ask for a phone number preferably a cell phone that way reaching them will be less problematic.
Remember, when you sell your car, people will also be evaluating you.You are the person who has maintained the car for the past few years. Would they trust the information you are providing about the vehicle?Make buyers feel as comfortable as possible.If you have all of the service records, say so. If not, try to find as many as possible. Discuss the service history of your car truthfully even if you can't find the records.Proof that you've cared for your vehicle adds to its value.
Potential buyers will want to test-drive the car.Have a route planned out with two things in mind, safety and convenience.It's not a bad idea to make sure they have a driver's license. Allow the person who is the buyer to drive and if they have a friend that is their advisor/mechanic with them, they can ride next. Furthermore, they may not know the area, so you might have to guide them along the test-drive route.
Remember, the main purpose of the test ride is to present your car in the most positive light and determine if you are dealing with an interested, qualified buyer. If you use this opportunity to get to know the buyer, the process will be relatively comfortable and can help you save a lot of time.
Some buyers will want to take the car to a mechanic to have it inspected. If you have a report from your mechanic evaluating the car, this might put their doubts to rest. However, if they still want to take the car to their mechanic, this is a reasonable request. By now, you should have a feeling for the person's trustworthiness.
Step 6: Negotiate With the Buyer
If a person comes to look at the car, they test-ride it and it passes their approval, you can expect them to make an offer. Most people are uncomfortable negotiating, so this might take several forms.
"I like the car, but..." This is the softest way to negotiate on the price. They may not even state that the price seems too high. However, if they say, "I like the car, but..." and then lapse into uncomfortable silence, you might consider an appropriate response. If you really want to move the car, you could say, "How much would you be willing to pay?"
"What's your best price?" This is a more direct way to probe the seller to find how much he or she would come down. If you get this from a prospective buyer, don't seem too eager to reduce your price.
"Would you accept?" Now we're getting somewhere. This buyer has thought it over and is making an offer. But the offer is being presented in a polite manner designed to allow for a counter offer.
"Take it or leave it." This buyer is making an offer that supposedly leaves no room for a counter offer. In reality, this buyer might be bluffing. Still, they are sending a message that they are close to their final price. The only way to know for sure whether it really is a "take it or leave it offer" is to leave it. They may be back tomorrow ready to pay your price. The above are just a few of the openers you might encounter. Give your response some thought ahead of time so you won't be caught unprepared when the time comes.
Once your buyer has established interest, it's a good time to discuss how they plan to pay for the car.Cash is ideal for small sums, a Bank Draft or Money Order is the thing for larger amounts.
If you haven't already, ask the buyer for ID with an address and landline telephone number.At least if something goes wrong, you'll know where to find them. Finally, write a receipt for both you and the buyer, stating that the car is being sold.
As a seller of a car, you need to ensure that all the legal forms should be filled in completely and submitted to the Ministry of Transportation.
When done correctly, selling a used car can be a win-win situation. You have turned your used car into cash and provided reliable transportation for the next owner. Focus on the benefits to both parties and you are likely to have a smooth and profitable experience.
