You have decided to put up your car for sale, but you cannot simply put a "For Sale" sign and expect buyers to come straight away. So how exactly do you go about selling your car?
The first option is having a used car dealer to to do the work for you, but of course that comes at a cost. The dealer will take care of everything, from getting your car into a roadworthy condition, to advertising and getting all the necessary paperwork done. In exchange you get convenience and save yourself a lot of time.
However, if selling to a dealer is not your cup of tea, then you can sell your car privately. By eliminating the middle man in your transaction, you obviously will be able to get more money from your sale. The downside is you have to do everything yourself - sprucing up the condition of your car, advertising, arranging for test drives and making sure the paperwork for the final transfer of ownership is done properly. If it is your first time doing so, here are some general pointers to take note of.
Firstly, how to price your car. How much you car can fetch depends on its age, mileage, make and model, whether there are any optional or upgraded features added, warranty period, condition of the car and so on. Other than giving your car a wash and a new coat of shine, do also check out the prices of similar used cars in your area. When determining your price, it is advisable to leave some room for negotiations with prospective buyers.
Secondly, you have to decide where and how to sell your car. You can have your friends help spread the word, but you would appreciate greater exposure too. Other than placing an advertisement in the newspapers, consider posting an online one too. There are numerous used car sale websites on the Internet. Some let you put up a posting for free while others charge a small fee for it. Either way, they usually allow you to include multiple photos or video, so that prospective buyers can have a good view of your car before they decide to contact you or not.
You can also choose to let your posting run until your car has been sold, or post it only for a limited time only. At any time, you can review and update your posting too.
The best thing about putting up a posting online, is that you would have to fill up a guided form, which lists out all the basic information about your car. This way, you will not forget to disclose any information, which could be important for your sale.
A good used car website will have a set of basic tips and guidelines on what to do to prepare your car for sale. Remember to do some research on the rules and regulations for used car sales in your area as well. You may also have to involve your bank if your car has not been fully paid up yet.
Selling your car online is not as daunting as it sounds, even for a first-timer. As more people turn to the Internet for shopping, this is definitely the way to get the most money out of your used car sale.
