Here are 10 simple steps that will help you turn your used car into cash. Everything from pricing to advertising and negotiating is covered in this short, easy-to-follow process.
Step 1: Know the Market
Is your car going to be easy to sell? Is it a hot commodity? Or will you have to drop your price and search out additional avenues to sell it?
Here are a few general rules to answer these questions:
- Family sedans, while unexciting to many, are in constant demand by people needing basic, inexpensive transportation.
- The sale of convertibles and sports cars is seasonal. Sunny weather brings out the buyers. Fall and winter months will be slow.
- Trucks and vans, used for work, are steady sellers and command competitive prices. Don't underestimate their value.
- Collector cars will take longer to sell and are often difficult to price. However, these cars can have unexpected value if you find the right buyer.
Your first step is to check on-line classified ads to see how much other sellers are asking for your type of car. Keep in mind that dealers will have different prices than private party listings. The eBay.com classifieds and other Internet sites allow you to search with specific criteria. For example, select the year and trim level of your car and see how many similar cars are currently on the market. Take note of their condition, mileage, geographic location and selling price so you can list your car at a price that will sell it quickly.
To find a dealership that knows how to treat shoppers right, please visit Edmunds.com's Dealer Ratings and Reviews.