If you are looking to sell your car but have no idea how to go about it, it is important that you educate yourself before attempting to do so. Fatal mistakes such as not knowing the value of your car or spending too much on repairs can result in an unprofitable deal. In this article, we list out some of the common mistakes to avoid when selling your car.
Not Knowing How Much Your Car Is Worth
It can be tricky getting an estimation for a used car as no other car out there is in the exact same condition. Hence, what you need to do is find a ballpark to determine the price range you are comfortable selling your car at. Check out numerous websites to find out what sellers of similar cars are valuing their vehicles at before deciding. You do not want to end up short charging yourself, but if your asking price is too high, buyers will be put off.
Investing in Expensive Repairs
Chances are your used car could benefit from a few repairs here and there. Before you rush out and spend a large sum of money on these repairs, think about how much it really impacts your car’s worth. Potential buyers will likely try to negotiate for a lower price after factoring in the repair costs, hence the best thing is to be ready for them. Find out how much repairs will cost by getting quotes from mechanics. In the event that a buyer tries to bring down the price by $1,000 for a repair that will only set them back $200, you are well equipped to make a counteroffer.
Accepting the First Offer You Get
Buyers tend to make low initial offers because they expect you to make a counteroffer and are willing to meet in the middle. Never accept the first offer you get – make a counteroffer between your asking price and their offer. Furthermore, if you skip the negotiation process and immediately move ahead with the sale, some customers may get the feeling that there’s something wrong with your vehicle if you appear so eager to be rid of it.
Not Having the Title Ready
Once the sale is confirmed, you will have to transfer the title over to your buyer. Therefore, be prepared by making sure the title is in your hands before negotiating. If your car was financed, the title is likely with your lender but if you own it outright, the title should be with you. Have it ready and apply for a replacement early if it has been misplaced.
Why Should You Work with Car Geeks for Car Buying and Selling Services?
Whether you are looking to sell your used car or buy one, Car Geeks has got the perfect solution for you. We offer trade-ins as well as car consignment services to suit your needs. Additionally, we are completely transparent with the sale process as well as the condition of our vehicles, ensuring that you have all the information you need to make a decision. If you have any inquiries about our car buying and selling services, do not hesitate to contact us through our website, or call us at 954 533 4566!
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