ALT-1 Criteria for Establishing a Selling Price on your used Car
If you have a lot of time and patience, you can sell your used car. But, you've got your work cut out for you. Having the right price tag is essential to luring prospective buyers.
Car dealers have the edge, because they can warranty product, even recondition it to meet guarantees before sale. This improves a car's appeal to the buyer, but also the price tag. Though we joke used car salesmen are not trustworthy, it's likely buyers will trust them before risking their dough on your ride, even if it means paying more.
Car dealers pretty much write the book on how used cars are priced. Check out their inventory for comparable models to see how they are priced. Dealers subscribe to a bunch of crunched statistics that tell them what cars sell for at auctions or what people who come to their lots traditionally pay. Much of that information goes into blue book pricing.
Blue book pricing can be obtained for free on the web from places like Kelly Blue Book or Edmonds. Reputable places like this will show you dealer prices and what the private party seller (you) gets. You come out on the short end, and a lot has to do with condition and certification to assure a car's value.
Knowing the shape of your auto helps to factor the price. If you want to verify the shape of your car, you could take it to a mechanic to get an opinion. Of course, this type of appraisal can cost money. There is another approach.
Visit a dealership with your car and take one of their new cars for a test drive. Offer to have them evaluate the worth of your car on trade for one of theirs. This can get tricky because different dealerships have different approaches in deciding what to offer. If you show you are nave, they likely make will inflate' the value of your trade-in. They want you to think you're getting a good deal because they have a lot of room to work on the sticker price of that new auto. If you want an upfront estimate, you could ask them how much they'd pay for your car without trading up. They may tell you what they could get for a car like yours at auction will determine what they've give.
What is important to know when talking to dealers is what kind of shape their mechanics found your car to be. This can go back to the blue book price to determine if your auto is poor, fair, good or in excellent shape. Good is your best bet. Excellent is usually showroom condition. You'd have to be a mechanic or have one on retainer to have a car in this shape.
One more place to compare is in the used car ads. You can find comparable automobiles in newspapers and online at sites like Cars.Com to find out what similar cars go for. It can still be tricky when you don't know what options some of these cars come with.
It's good to know if a car like yours is in demand. If you have a vehicle like a Toyota Camry, you'll find a good resale value. Dependable cars like these are what buyers trust and look for. Traditionally, their value holds higher. You find the right niche for your car, you can appeal to the types that traditionally own that auto. For instance, a Ford Taurus might be a trusted make and model for the older set like retirees who like a bargain without a lot of bells and whistles. Practical car with a practical price.
Spending time on lots, talking to various dealers and getting different evaluations over time will give you an idea of what your car is worth, especially when you compare with blue book numbers. Make it showroom ready, you can go for top dollar.
