Selling your vehicle privately instead of a dealer has several benefits, but it can be hard as well. If you want to sell your car, you’ll want to strategically price it to avoid hassle. By following a few other tips, you can maximize your profits and reduce stress.
Gathering the Paperwork
You’ll need the car title to allow you to sell the vehicle. If you took out a loan, check with the lender. If you still owe money, you’ll need to learn how to arrange your sale. You’ll likely need the Monroney sticker, so you know what options, trim, and packages your car has. Luckily, it’s easy to use a free window sticker tool from WithClutch.com to reproduce the original sticker for 2013 models and newer.
Set the Price
You want your vehicle to stand out from other ones that owners are selling, so estimate the car’s value. That way, you can set up a better asking price. Then set the price above the current value but still with a good deal. For example, if the value is $4,200, you might ask for $4,700 for the negotiating room. If your car is worth less than $10,000, don’t ask for more than the nearest $1,000. So, if your vehicle is worth $4,500, don’t ask $5,000 or more. Plus, pricing it at $4,900 might seem like much less to a potential buyer than $5,000 does.
Set Up Ads
Take lots of photos to give your buyers confidence that you’re clear about any potential issues regarding selling the car. Plus, it will make the car stand out. Take pictures of different angles and make sure you get the trunk, back seat, and driver’s seat. Add photos of the engine and odometer, which shows the current mileage. Take photos of the tires as well to show their tread depth. Park it in a nice location if you can provide a good background. Taking photos just before sunset will give you much better lighting than if you did it in the middle of the day. There are many places to post ads, and each one serves different audiences. So do your research based on the type of vehicle you have. Just be careful with free sites since they might attract scammers. With paid sites, your ad might get viewed by more people. Plus, they might attract more serious potential buyers.
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Making the Sale
If a potential buyer wants to test drive the car, let them. Set up a safe place to meet them and consider bringing a friend along. Go along with them during the test drive to give directions and answer any questions. If they want a mechanic to inspect your car, they should pay for this. Allow them to negotiate with you and make an opening offer. Take your time to reduce any potential misunderstandings. Then sign and date the title. You might need to fill out a release of liability form as well to show that you no longer own the vehicle. Don’t forget to cancel your auto insurance.
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