If you have never sold a car before, it may seem like a daunting task. You need to take some efforts and adopt some strategic steps to get the best price for your car.
You will need to list your car, answer calls from potential buyers, give test drives, and finally close the deal. The entire procedure may be exhausting and time-consuming.
Here are four tips to ensure that you are able to procure the best price for your car:
- Prepare your vehicle
When your car is in good condition, it is easier to procure the best price. Prospective buyers would willingly pay a higher price if your car is well-maintained. Moreover, if the new owner requires a pre-owned car loan, the institutions would be more willing to sanction the application when the vehicle is well-maintained. You must get the car cleaned both from within and outside and repair any dents or cracks.
- Proper listing
To attract more buyers, you must accurately list your car online along with the relevant details. It is recommended you upload a few high-resolution photographs from various angles showing the car condition from outside as well as the interiors. Also, provide ownership details, insurance type and validity, certification, and other related details.
- Determine the right price
It is important that you determine the right price while listing your car. You may look for similar listings to know the prevalent market price. You may quote a higher price and then negotiate it to a reasonable amount. If your car is maintained well, you may be able to justify a higher price. Even if a few buyers are driven away by the higher price, do not be disheartened because an online listing often garners huge interest.
- Selling costs
If your car insurance is valid, the same must be transferred to the new owner. However, if the insurance has expired, you need to inform about the same because it also affects the buyer’s used car loan application. Ownership transfer costs are minimal and the local Road Transport Authority (RTO) may be able to assist you.
It may be advantageous to get an unbiased assessment of your car before listing it for sale. Taking the time to rectify the minor defects will help you to get the best price for your car. It will also make it easier for the buyer to procure a loan for used cars, which may quicken the entire procedure.