If you’re in the market for a new car or even a small upgrade, you’re likely going to be selling off your old car. So how can you make the most money possible when selling your old car? Here are the top tips to make sure you’re not taken for a ride and you get a fair deal.
Do Your Research
Since you’re in the market for a new car, you’ve probably been looking at a lot of new shiny models and doing your homework on just what type of car you want to buy. But, you also need to do your research on your old car in order to figure out just how much it’s worth. A good place to start is by checking your car insurance details and seeing how much your insurance company prices your car at. Next, you’ll want to check out your local dealers and classifieds. Keep in mind that the specifications, mileage and condition of the same models can make a big difference in price, so evaluate yours accordingly.
Get a Quote from Your Dealer
Now that you’ve done your research and know the going rate for your old car, you can get in touch with your local dealers and get a quote. Note that this is part of the research phase and you should never simply sell with your local dealer without doing your due diligence first. If you’re going to be buying your new car from a dealer then make sure you also get a quote on a trade in. They’ll be able to knock some money off the price of the new vehicle for you. This does not necessarily mean that you’re going to get a better deal at a dealership. In fact, the opposite is usually true but this doesn’t mean that you shouldn’t first get a quote from them. It will help you whether you choose to sell privately or to another dealer.
Deal or No Deal
Now that you have all your ducks in a row, you can decide on whether or not to go with the quoted price from the dealership, do a trade in if you’re looking to buy your new car from the same dealership or list your old car for sale privately. In order to get the most money out of your old car, the best option is usually to privately sell. But of course, every case is different and by this stage you’ll have a good idea of whether or not the dealer is offering you a fair price based on the privately listed cars in the market.
If you choose to sell privately then you should list your car for sale everywhere you can. That means advertising it online, putting it in the local papers and putting the details of sale as well as your contact number on the car to attract nearby buyers. When selling online, your listing should include all the car specifications and details and make sure to post as many photographs and close ups of the inside and outside of the car as possible. This will help to weed out any time wasters and ensure a faster sale.
Now that you’ve chosen whether to sell privately or to a dealer, you can negotiate your price. As the owner, you’re in the driver’s seat when it comes to negotiating a good deal. This is where your initial research will really come in handy. Keep a cool head and remember what your car is worth.
This is a collaborative post.