When it’s time to sell your vehicle, understandably you’re going to want to get the highest valuation possible, but the truth is most people don’t even know the current value of their vehicle. If you’re about to sell up, then there are several steps you can take to ensure that you get the highest valuation possible, because if your car is in the best condition then it will sell itself.
We all know that most cars depreciate as time goes on, but when you’ve decided its time to sell you don’t need to accept the lowest price that the market has to offer.
We’ve created this guide to show you the best things that you can do to increase the value of your car before you sell it.
Improve The Condition
It’s not really surprising that potential buyers will be more likely to spend more if the car is clean and in good condition. Stains and dirt will give your vehicle a cheaper look and give the impression that it hasn’t been cared for, so the potential buyer is going to wonder what else could be wrong with the vehicle.
One of the most obvious things you can do its get the vehicle detailed which will only cost you around $100. This helps to remove light scratches and paint imperfections. You can also do other non-expensive things such as degreasing the engine and waxing the car exterior to give it extra shine.
Replacing the floor mats also makes a huge difference to the interior as well as giving the inside a thorough clean.
Get It Serviced And Repaired
A professional servicing will show if anything is wrong with your car that you may not have noticed. This will also give you the chance to get other maintenance carried out such as oil changes.
If you do find that you have a whole load of repairs to carry out then it doesn’t’’t make sense to outlay thousands of dollars to fix all the faults, especially if the cars resale value will decrease more than the cost of the repairs. However, it’s important to fix the main issues that the buyer will definitely notice when inspecting the vehicle.
It will always be the small things that the buyers remember such as the interior light not working which will only cost a few dollars to fix. If the appearance of your car is severely hampered by an obvious problem such as a dent in the hood then you’ll need to spend the $100-$200 to repair it.
Having your tires and brakes serviced will increase the value of your car as that’ll be one less the hassle that the buyer must worry about.
Collate Your Records
You should collate all of your cars maintenance and servicing records which can give any potential buyers added peace of mind. This can prove that your vehicle hasn’t been in any accidents and show that you’ve taken good care of it whilst it’s been in your possession.
If you’re selling a car that has had recall notices against it then prove that you’ve had the issues repaired. You can get a vehicle history report from a service called Carfax which will list all of its previous owners and will show whether or not the car has been totalled or in a severe accident.
Take Good Photos
If you’ve decided to sell your vehicle privately or online then one of the most important things to increase the number of viewers and potentially increase the final sale price is by taking good photos.
To do this, make sure that you stand far back enough so that the full vehicle fits into the photo and take shots from a number of angles so buyers can see the different sides of the vehicle.
It’s ideal to take the photos in daytime whilst avoiding direct sunlight which can distort the image. Take note of the background in the images as well because the photos will look better if there is nice greenery as opposed to a messy neighbours garden.
Taking good pictures will also decrease the number of time wasters who come to view the car as bad pictures can deceive people as to the real quality of the vehicle. So from this you’ll have stronger buying leads.
Don’t always settle for the opening offer, even if it’s the best offer you’ve had there’s always room to negotiate and the buyer will almost always have additional money above their offer. You have nothing to lose by asking and the worse that they can say is no rather than accepting their lower offer and wondering if you could have got more.
Know Your Cars Valuation
There are many free online valuation tools that let you do this by listing details about your vehicle including make, model, condition, mileage etc. This will give you a more realistic valuation which will lead to a more buying leads as you will set a more realistic cost. The vehicle will also sell quicker if it has selling price closer to its actual value.
One selling trick to get a larger selling price is by setting your asking price to 5-10% higher than the amount you’re actually willing to accept. The buyer will then most likely negotiate down slightly and they will be left thinking that they got a good deal by paying less than the selling price, and you’ll be happy that you got the actual asking price you wanted.
Check Local Dealers
Another way to get a higher selling price is by checking into multiple local car dealers, because you never know what the demand is like or what types of vehicle that they’re running low on and will to pay over the odds for. If you do get a great offer from one dealer, don’t accept it straight away as you should always check with at least three.
Offers from local dealers won’t last more than just a few days so you’ll need to move quickly. Another benefit of doing it this way is that the transaction is much quicker than going through the process of selling it yourself.