Cars are some of the most expensive items that people purchase. The average person securing a loan for a used vehicle in 2019 borrowed $20,137, but that doesn’t mean it’s easy to make a lot of money selling your car. Once you decide to sell you have two main options: You can trade it in against the cost of a new or used vehicle from a dealership, or you can sell it. You can expect to get more money if you sell your car yourself, but it will also take a lot of work.
It normally takes 1 to 2 months to sell a used car. Many people make basic mistakes that can cost them money; however, with some careful preparation, you can maximize your profit when you sell your car.
Visual Appeal
Invest in a headlight restoration kit for your vehicle before you put it up for sale. This is an affordable expense that can boost your profit. People often focus on what the front of a vehicle looks like. They will also be reassured that they will have good visibility when they are driving. You should also buy quality wipes to keep your headlights and tail lights clean when your car is up for sale.
Keep it Clean
You will make a good impression if you have a clean vehicle. Vacuum and remove excess belongings. Shampoo the seats and floors. Dust the dashboard. People are more likely to believe you looked after routine maintenance if you keep your vehicle clean. When buyers see a dirty car, they see more work. Cleaning your car is a low-cost way of appealing to potential new owners.
Have Documents Handy
Check your state’s requirements for transferring ownership of a vehicle. Make sure you have your title and all the required paperwork ready. Access your vehicle’s report and have a proper bill of sale handy. This will keep you from losing a potential sale while you gather the necessary information and documentation for the buyer.
Get an Inspection
Some states require regular emissions tests and safety inspections. It can help you sell your car if you can prove that the vehicle meets the local requirements. Buyers will have confidence that the vehicle is roadworthy and be more likely to consider buying from you.
Plan Ahead
You can have your vehicle ready to sell during the best time of year if you plan ahead. Be ready to advertise in spring or summer. Most people buy vehicles during these months, so you will improve your odds of getting an offer for a reasonable sale price. Planning ahead also ensures that you will have enough time to complete any required repairs.
Set Your Price
Resources, such as the Kelly Blue Book, can help you determine the potential value of your vehicle. Remember that buyers may be referring to these sources, too. Set your price within the recommended range based on its age, mileage, and condition. Buyers will know you’re being reasonable and be more likely to consider your vehicle.
Advertise Wisely
Spending too much money on advertising is a common mistake people make when selling an item. Post photos on free online or app-based selling sites. Flyers can still be an effective way to gain interest. If you’re still driving your vehicle make sure you put a “For Sale” in it and have a visible contact number displayed. Set a budget for advertising and stick to it.
Keep Records
Take a lot of photographs of your vehicle. With ibi’s storage capacity you will be able to safely store these photos and access them easily. When potential buyers contact you it will be easy to send them pictures you didn’t include in the advertisements, too. Photographs can also protect you against claims about the condition of the vehicle after you sell it.
Protect Yourself
You can create a separate email account to handle sales inquiries. This protects your personal account and allows you to keep all correspondence in one place. Plan meetings with interested parties in public during the day and make sure someone knows who you’re meeting and where you are. Correspond with or talk to potential buyers before you meet them and if you have any reservations, either cancel the meeting or don’t meet with them alone.