Getting The Price Right When Selling A Car
Posted by admin at 11 August 2023, at 05 : 05 AM
An important part of selling a car is setting the price. It’s important that you price your car just right so that you can guarantee a sale while still getting a reasonable amount of money for the exchange. Below are a few tips for valuing a car.
Research similar cars on the market
The easiest way to get an accurate idea of a car’s value is to see what other sellers are charging online for similar models. The closer you can get to the exact model and age, the better an idea of what the price should be. Don’t judge your price of a single car ad, as it’s possible the buyer may have set the price too high or too low. Comparing multiple car ads for similar cars can give you a good idea of the median price.
Note the mileage
You can price a car higher if it’s got a relatively low mileage for its age. Most cars do about 10,000 miles per year. Therefore, a 6 year old car should have a mileage of about 60,000 miles. If it’s only got 30,000 miles on the clock, you may be able to get away with pricing it a little higher because of this. If it’s got 90,000 miles on the clock, it may be better to price it a little lower. This post offers more information about mileage and price.
Consider the condition
An old car that has been kept in immaculate condition is likely to retain a lot of its original value. This is particularly the case with sought after classic cars. If there is large visible damage, you probably won’t be able to get away with pricing your car as high as other cars on the market.
Consider a professional appraisal
With some cars it could be worth getting a professional appraisal. This involves hiring an expert to examine the car and give you an accurate idea as to the value. Appraisals are unlikely to be worthwhile on relatively modern family cars, but could be worthwhile on sports cars or classic cars. Try to look for a specialist that knows your manufacturer such as a classic Porsche appraisal service when valuing an old Porsche. More general appraisal services may not always be able to accurately value every car.
Allow some room for negotiation
Some experts recommend pricing a car a little higher than its true value. This allows you room to bring down the price slightly if a buyer wants to negotiate. If no-one wants to buy the car at that price, you also have the option of bringing down the price and then advertising this discount – this could entice buyers that you may not have otherwise attracted.