The used car market is hotter than ever. In July, prices grew more than 11% over the annual period. This accounted for a $3,364 increase for car sellers.
You can capitalize on the rising prices of used cars. There is an ongoing shortage of new car inventory. The industry is dealing with computer chip shortages and manufacturing delays due to the Covid-19 pandemic.
This has forced many buyers into the used car market and elevated prices as a result. Read on for five stellar tips for selling a car. Explore topics such as appealing to private buyers and how to sell a used car for cash.
1. Clean It Up
Cleaning up your vehicle is one of the easiest things you can do. No one wants to buy a dirty car with soiled seats and strange odors.
Take your vehicle to the car wash before selling it. Throw out all garbage and clutter to make it look more spacious. Vacuum the interior and wipe the windows to make them sparkle.
Add an air freshener so that the car smells like new. These simple and cheap steps are going to make a car buyer feel good about purchasing it.
Some owners take this a step further by detailing the car prior to sale. Click for more information on car detailing kits that can take your vehicle to the next level.
2. Research the Price
Make no mistake, used cars are in a sellers’ market right now. The inventory shortage is driving prices up for both new and used cars. Price to sell is not a wise strategy in the current environment.
There are many online tools to help you appraise your car’s value. You will need basic information like the vehicle’s year and how many miles are on it.
3. Advertise
Now you need to get the word out there that your car is for sale. In the past, people used to try to sell a car in the newspaper or in auto magazines. Those days are long gone and most advertising is done online.
Social media is an effective place to list your vehicle. It is free and can reach a targeted, local audience.
Taking high-quality photos is a key part of the advertisement process. You will earn more leads by publishing clear photos on Facebook.
4. Collect Your Documents
The car title is a must if the buyer decides to purchase the car. You will need to transfer the title over to the new owner in accordance with state rules.
A savvy car buyer is going to ask for even more. They may look for a Carfax report which lists any collision history. Other buyers may ask for documentation proving you kept up with preventative maintenance or the car’s warranty program.
5. Pre-Sale Inspection
A pre-sale inspection is a wise strategy. This way, you can identify latent issues before it goes for sale.
Few things are worse than securing a buyer and then the deal falls apart due to mechanical issues. This will help you get a higher price on the sale as well if the car gets a clean bill of health.
Five Tips for Selling a Car
You are now ready to sell your vehicle. It is a sellers’ market and you can secure top dollar for your vehicle.
Simple steps such as cleaning it up or getting a pre-sale inspection go a long way. If you enjoyed this article about five tips for selling a car, check out our blog for more great content.