A shortage of chips caused by COVID-19 has led to an increase in demand for used vehicles. Although the shortage is decreasing and may end this year as well, many automakers continue to produce less vehicles than usual. This means that dealers have lower inventory levels.
You’ll still have a lot of potential buyers if you are selling a used vehicle. Before you put up an online ad, you need to take certain steps in order to maximize the value of your vehicle.
How To Sell Your Used Car In 8 Easy Steps
You want to get the best possible price when selling a valuable asset like a car. Spend time researching the best price to sell your car and learn how to negotiate.
1. How To Sell Your Car?
Three ways are available to sell my car in Auckland:
- Trade it in: You can only trade in your vehicle if you are looking to buy a new car from a dealership. You won’t need to advertise the car to potential buyers. You won’t likely get as much money as you would in a private transaction.
- Private sale: Typically, you’ll get more money for your bike if it is sold privately. You will need to search for the right buyer to negotiate a price and find them.
- Dealerships: Most dealerships offer a cash offer free of charge and without any obligation for your car. You’ll be given a certain period of time to decide if you want to redeem the offer.
- Car buying websites: Websites that offer car buying services: Sites like AutoNation and Shift promise to make you an offer within minutes. You will need to provide information on the make, model, color, and mileage of your vehicle. Uploading photos is also required. They offer quick cash for your car, but often charge high service fees which eat up your profits.
2. Collect The Required Documents
These documents are required to sell your car.
- Documentation from the initial sale of the vehicle.
- The title of the vehicle.
- Any service records available.
Wait until you can provide these documents before selling your car. You could run into problems when you try to complete the transaction.
If you live in an area where emissions tests are mandatory, it’s a good idea that you have the documentation. This paperwork is important if the vehicle still has warranties. A vehicle still covered by warranty may fetch you more.
3. Prepare Your Vehicle For Sale
After you have decided to sell your vehicle and collected the required paperwork, the next step is to prepare it to be sold. You should ideally spruce the interior and exterior of the car to make it look good for potential buyers.
Spend some time cleaning your car yourself. You can either hire a professional to do it or you can spend the time yourself vacuuming, shampooing, and cleaning the carpets.
You should also take your car in for an oil-change. Replace your brakes or tires if they are at the end of their life. The mechanic should replace any broken or burned out lights, and wipers. Plan to repair cracked windshields and any scratches or dents.
4. How To Set The Right Price For Your Product
Pricing is important when you plan to sell your car privately. If you price your car too high, you may turn off potential buyers. Selling for too little will mean you get less money than you deserve. You want to make sure you do the research and price your car correctly, but also leave some room for negotiation.
There are several tools you can use to find out the current value of your car. You can use Edmunds or the Kelley Blue Book’s “My Car’s Value”, to estimate your car’s value. You can also use Autotrader to find similar listings or look at classified ads in your area.
5. Spread The Word
You can also tell your friends and family that you’re selling your car, and ask them to help spread the news. You can advertise in local newspapers or on websites with used car marketplaces, such as Autotrader or Kelley Blue Book.
Include photos of the exterior, interior, and under the hood when creating your ad. In addition to the year, model, and make of the car, it should be mentioned that the vehicle is in good condition and the price. Include features that will make the vehicle stand out like an extended warranty or fuel efficiency rating, as well as why you are selling it.
6. Be Prepared To Negotiate
Take your car to several dealers to get offers before you start negotiations. You can use this information, along with what you learned from researching the value of your car on sites such as Kelley Blue Book and Edmunds, to guide your negotiations.
Come to the table prepared to make a counteroffer.
Let the buyer start the conversation by throwing out a number. You can decide to accept the number or to continue the sale if it works. If the price is too low, you can counter by offering a price slightly above what you’re willing to pay. Be prepared to walk away from a deal if the other party is not willing to negotiate.
7. Smart And Safe Sales
When selling your car to a private individual, safety is paramount. It’s possible that the seller will want to pay in cash. You can suggest that they use PayPal or another contactless payment processor.
Cashier’s checks are another option. Checks are guaranteed to clear because the funds from the buyer’s account are immediately withdrawn when the check was issued.
Call your insurance company if the buyer wishes to test-drive your vehicle before deciding to buy it. This will ensure that you are covered in case of an accident. Choose a well-populated area, and decide on a route in advance. For extra safety, you may want to bring a friend with you.
8. Officially Announce The Sale
You finally found the right buyer and you are ready to close the deal. Before the sale is finalized, you and the buyer must go to the Auto wrecker to transfer the title of the vehicle to the new owner.
Be aware that the process is different in each state. You may be required to show proof that the inspection was successful or contact your local tax assessor autowrecker.co.nz has the rules applicable to your state.
Next Steps
These tips can help you sell your car for top dollar, whether you want to make some extra money or trade in your vehicle for a brand new one. A private sale will likely maximize your profits. Get a few appraisals before you list your vehicle to make sure it’s priced correctly and will sell in record time.