Negotiating when Selling your Car

Sell used car

Selling a car can be a huge haggle with what people wanting it for lesser price than its value. You need to be smart and alert when you are on the buying and selling field. It is almost similar to bargaining when you are out shopping. People tend to bargain with you and you have to be witty enough to turn it back on them realize that the car you are selling is worth much more and make them buy it at your rate.

1. Estimate your car’s worth.

Use pricing guides and car classified websites like Craigslist, AutoTrader and Cars. Talk to other car owners who are selling cars similar to yours and ask them if they are the original owner, if they have complete maintenance records, accident details, and condition of the car and additional features of the car. See how much that owner is willing to sell it for and now, you will have a price to compare to.

2. Get word out.

Add your car classified in one of the listing or classified sites. Make sure you do good marketing and that you mention the miles, service record, owner, maintenance details and additional features.

3. Once a buyer contacts you:

• While on a discussion with the buyer, ensure that you are honest to the buyer about the car. Do not focus on the faults, but mention them in a subtle manner.
• Don’t reduce your selling price easily and explain why the car is worth so much. At the same time, one need not be very rigid and can have a reduced price which is still a measure of the car’s worth.
• Don’t go first in reducing the price, wait for a little while and try haggling. Be confident enough to turn down unreasonable buying offers when you have time and also start showing it out when you have several offers so that potential buyers realize the competition. If you need to sell the car immediately, try your best at getting your price from the buyer.

4. If you are going to go through a dealer:

Now, this will save your efforts, stress and time, but you will be receiving a lesser price as there is the point of commission to the dealer. The dealer will take care of the selling in a highly professional way, where he will stick to your selling price. If you can exchange partially for the dealer’s car, you will find business with the dealer to be easier.

Car selling is fun when you play it right. So, here are a few keynotes to look out for:

• Never go overboard with your haggling.
• Be observant and play your cards properly.
• Highlight the features of the car which are in perfect and excellent condition like the fuel tank, accelerator, air conditioning, full service records, etc.
• Have the documents in hand.
• Make sure the car is in proper condition and cleaned fully before showing of the car to every other buyer.
• If you are comfortable, you could suggest payment in installation as a last resort while haggling. This might get the buyer to agree to the original price.

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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