Are you looking to sell your car? Following CARFAX’s 10 Step guide on how to sell your carcan help turn your used car into money in your pocket.
If you’d like to sell your car, you may find yourself wondering how to sell it quickly while also getting the best value. CARFAX has put together a list of 10 steps which may help you through the process, as well as a checklist that can be used to make sure you don’t miss anything.
Step 1: Inform yourself about the current used car market
The first step before you sell you car, is to get a feel for what’s already on the market. Check the internet to see what price other sellers are asking for, specifically for similar cars to yours. This can give you a good idea how much competition you’ll have when you try to sell you car.
Step 2: Choose a competitive used car price
Pricing your used car is one of the more important steps when you sell your car. Too high, maybe no one buys it. Too low, you could be getting ripped off. While checking the current used car market, you will get an idea what prices others are asking for similar cars. These prices aren’t an exact guideline, but they can help ensure you’re not over asking.
Step 3: Cars with curb appeal sell
First impressions make a difference. Thus, you’ll want to make sure your used car gives off a positive first impression as it’s seen parked at the curb – hence the term: curb appeal. A simple car wash is usually not enough. Giving special attention to wheels, tires, interior, as well as exterior should help you sell your car faster.
Step 4: Where how to advertise
When trying to sell your car, you could advertise using newspaper classifieds and parking your used car with a “For Sale” sign. But today, a much more effective way could be using the internet. Try posting your advertisement on used car websites and also take advantage of social media. Lastly, don’t underestimate the power of word of mouth. Perhaps when you tell a friend or colleague that you’d like to sell your car, they know someone who’s looking for one.
Step 5: How to make an advertisement that sells a used car
Important things to include in your advertisement are: asking price, year, make, model, trim level, and color. You may also want to include the condition of the used car. Additionally, including clear and well-lit photos of the interior and exterior of the car will help sell your used car faster.
Step 6: Showing the used car to prospective buyers
This step can be one of the longest in the process when you want to sell your car. Try to screen potential buyers before inviting them to look at the used car. Someone who is only half interested may be wasting your time. Before allowing anyone to test drive your used car, make sure they have a valid driver’s license. Answer all questions openly and honestly.
Step 7: Show the CARFAX Vehicle History Report
By showing perspective buyers a CARFAX Vehicle History Report, you are displaying transparency as a seller as well as providing trust through using CARFAX as a reliable, independent source.
Step 8: Negotiation: Getting the best price
Once someone expresses interest to buy, they will usually make an offer. This begins the negotiation phase. Depending on how strictly you want to stick to your asking price, the person may walk away from the deal if they don’t get the price they want. Don’t be too discouraged. Another buyer may be perfectly fine paying closer to what you’re asking.
Step 9: How to handle complications by selling a used car
When you sell your car, it may be that the buyer will only finalize the deal once the car has been inspected by his/her mechanic. If you feel that the assessment of repairs to be fair and necessary for safety, think of reducing the price by the full amount, or splitting the bill with the buyer. Although, if you’ve stated that the used car is to be sold “as is,” you don’t have to worry about repairs at all.
Step 10: Closing the sale and handing over the keys
The regulations on the sales of vehicles vary by country. To make sure your sale is valid and your liability is limited, check with the local authorities about what is required to pass the vehicle’s title to a new owner. Make sure you only accept a safe payment method. Additionally, don’t forget to cancel your vehicle’s insurance policy.
The final step to sell your car< is to officially hand over the keys. Selling a car should be a win-win situation for both you and the buyer. You have now turned your used car into money in your pocket.
If you are ready to sell your car, use the following CARFAX Checklist to have a successful used car sale: CARFAX Checklist