7 Things to consider while selling your car
Let us face it, every car owner has decided at some point in time to sell it. It may be because you want to get an updated one, you need money, it has served its purpose, or any other reason. The issue with selling a car is that many factors make the job difficult. One, you have fond memories associated with it and two you want only the best deal and maximum return from it. The second factor is much more intriguing than it seems to be. You have to address several questions like is it the right time to sell, what is my car worth trade in value should be, where should I sell it, what can I do to increase its worth, etc. Apart from getting it repaired and cleaned, here are some factors which you need to consider while putting up your car on the selling list.
- Study the market
Study the market to find the right time to sell your car. You need to assess the demand for the used cars and know the time you can get good value. It is often better to sell your car in the summer than at the year-end. The market will also give you an idea of the worth of your vehicle. You should also know the insured declared value of the car.
- Keep the paperwork handy
Paperwork is important as it ascertains the liability of the vehicle. You should have the documents you had acquired at the time of purchasing the car. Also, make sure you get the documents proving that your liability ends after the sale. If you owe the bank some amount of car loan, the buyer will make the payment of the exact amount to the bank and will pay you the balance.
- Check your insurance and the no claim bonus
Check the insurance documents before selling your car. It is necessary as you will have to transfer the insurance to the buyer. Also, you can claim the reward offered by the insurer for not raising claims during the insured period.
- Choose a selling mode
You need to consider the selling mode before putting it up on the list. If you sell it through a dealer, you will have to make less effort but will get a lesser amount as the dealer will keep his/her cut. If you sell it independently, you can get a better amount but will have to make all the efforts yourself.
- Get it evaluated
You should consider a thorough examination of your car by the experts. It will help you know the exact condition of your vehicle and determine the right value for selling. It will also help you know about the fixes you should get done to increase the value.
- Consider advertising
Once your car and the paperwork is ready, you need to consider designing a convincing advertisement to project you offer. Consider the details you should include in the ad so that you answer most of the questions a buyer could ask. A clear and detailed ad would draw the attention of more buyers.
- Work on negotiation skills
You can never sell on the price you quote. The buyer will make all possible efforts to get the price down as much as possible and you have to try the opposite. It is important to brush your negotiation skills. If you feel you are not in for it, consider asking a friend to help to negotiate.
Infographic provided by Chrysler Factory Warranty, a Chrysler extended warranty company