Learning how to sell your car privately can be difficult. There are a lot of aspects that go into a private sale. You have to know a lot about vehicles, how to negotiate, and how to protect yourself. Unfortunately, most people don’t know these things and end up losing their vehicle or not getting the money they wanted for it.
If you learn more about the challenges of selling a car privately, you could make it easier for yourself if you decide to sell one. The best way to get cash for a car is by junking it, but you should still know how to sell one privately.
Here are the challenges that car owners have when trying to make a private sale.
Not Knowing the Value
One of the things car owners struggle with the most when selling a car privately is not knowing the true value of their vehicle. When this happens, they end up listing the car for either too much or too little. When the car is listed too high, no one will make an offer. When it’s too low, you’ll miss out on potential profits.
If you’re wondering how much your vehicle is worth, you can go to a site like Kelley Blue Book. You can look up your vehicle and see how much it goes for in each condition. You’ll be able to see the average high and low prices for both private sellers and dealerships.
You should keep in mind that the value of your vehicle will vary depending on what kind of parts you have, the mileage, damages, etc. It’s best to have your car looked at by a professional to give you an estimate of how much it’s worth.
Making Repairs Before Selling
The thought of making repairs before listing a vehicle seems like a good idea. However, sellers often spend too much on the repairs, causing them to lose money or barely make a profit. Making repairs can benefit you, but you’ll have to go about doing so the right way.
You should try to make small repairs that will sweeten the deal, like fixing a dent or replacing a bumper. Doing these things won’t cost you much money and it can give your vehicle curb appeal. When buyers see a car that has visible defects, they’ll be inclined to think that there are more underneath the hood.
Now when it comes to replacing something like an engine, you’re best to sell the car as-is. You can sell a car for parts, and you’ll save yourself a ton of time and money.
If your car has several damages, you should take it in to see how much it would cost to see anything. Whenever you’re meeting potential buyers, you can show them proof of how much the repairs would be in case they try knocking a lot off the price.
The Negotiation Process
If you’re wondering how to sell a car privately, you’ll need to know how to negotiate. Negotiation will be the most important part of the selling process because it will be used to get you the amount of money that you want.
Without proper negotiation skills, you’ll get far less than what you deserve. This is why you should get documentation for how much repairs would cost. You need to know how to talk to someone to bring the price exactly where you want.
Negotiation is a two-way process, but it’s meant to allow both parties to win. The easiest way to do this is to list your vehicle at a higher price than what you want. For example, list it at $3500 if you only want $3000.
When you meet with a buyer, they could try to offer something like $2800. This is where you’ll keep nudging the price a bit lower until they finally accept the price.
Keep in mind that when you’re negotiating, you do not want to take an offer that’s less than what you want. There are plenty of people that are willing to buy your car, so don’t take a low offer because you’re face-to-face with a buyer.
A private sale can seem like a daunting task for many people, and it can be if you’re not safe and strategic about it. You can’t afford to have your vehicle stolen or get hurt while trying to sell it, so do not invite buyers to your home.
You should meet buyers in a public area where there are usually other people. You can go to a place like Walmart and meet in the parking lot. Anywhere that you know has cameras is a good place, and it will protect you in case something does happen.
When you’re meeting them, they may want to test drive the vehicle. A test drive is a reasonable thing to offer because it lets buyers know the vehicle runs before they buy it. When giving a test drive, ride along with them. Letting the buyer drive by themselves is a surefire way to have your vehicle stolen.
Avoid the Struggles of a Private Sale
Selling a car privately is a long process and requires a lot of knowledge about vehicles. What you should do is avoid the hassle of making a private sale and go with junking it. Junking is a great option for those that would like quick cash, and you’ll get as much as you would from a private sale.
Go ahead and get an offer from us for your vehicle, it doesn’t matter what it is or the condition it’s in. Call us at 773-791-4363 to speak with a representative about our services.