If you prep and pitch your car to potential buyers yourself, you can put up to 20 percent more money in your pocket. According to Kelley Blue Book valuation, a 2007 Honda Accord LX can fetch $12,900 in a private sale. You will make only $10,900 if you trade it in. Read on to find out how you can make the most money from a private sale.
How Should I Prepare My Car Before Selling It?
Here are some things you can do to ensure you get top dollar for your used car:
- Clean your vehicle inside and out. Wash it thoroughly and give it a fresh coat of wax. You may also want to consider car wraps as an option to make your vehicle look as good as new.
- Repair small issues yourself. Replace lights if necessary. Check the levels of all fluids, including coolant, brake fluid, and washer fluid, and top them off. Change the oil.
- Get your car serviced. Have your car inspected by professionals, especially if you’re not sure if anything is wrong with it.
- Replace the floor mats. This easy and inexpensive trick that adds value to your car.
What is the Best Way to Sell Your Car Privately?
You should first get a reliable estimate of your car’s value. Use only services like Edmunds.com or Kelley Blue Book. Both services will ask you a series of questions about your vehicle, such as the make, model, mileage, and options. Be honest when answering the questions about the condition of your car. The service will then provide the retail and wholesale value of your vehicle. The wholesale cost is what a dealer will pay for it. The retail value is what you can expect if you sell it yourself.
Although you make more money from selling your car on your own, it requires a great deal of time and effort. Apart from determining the value of your vehicle, you’ll also need to advertise. Then you’ll need to meet with prospective buyers. You can consider placing ads on eBay Motors, Craigslist, Autotrader, Cars.com, Beepi, AutoTempest, or even on the Kelley Blue Book site. Your ad should include a history report, a good description, and clear photos.
A creative approach to selling your car would be to approach a business to buy it for advertising. They can use car wraps to turn your used vehicle into a mobile billboard. How effective is this form of advertising? It is 96 percent more productive than static billboards. It also grabs double attention. Since the car is mobile, more people have a chance to see the ads. This form of advertising also has excellent conversion rates.
It may not be easy to sell the idea of car wraps to a potential business buyer. But there are many other reasons to use this type of ad. It’s an upfront, one-time cost, unlike digital ads where they would have to pay per impression. Even billboards are not a one-time cost. Depending on how they’re cared for, car wraps can last as much as five years. Also, when the business owner is not on the job, the vehicle will turn heads and get leads for him or her.
Respond to all queries right away and in a professional manner. Genuine buyers will want to see your car first. If your gut instinct tells you there’s something off with a query, agree to meet in a public place. Some police stations have safe exchange zones for this type of commerce. Keep track of the people who contact you, and be courteous in your replies to texts or emails. Remain in control of the selling process by keeping discussions and meetings on your terms.
If you’re pitching to businesses, do a little research. Give them a list of ways in which advertising with car wraps would benefit them. You may wish to send these businesses an email or even an old-fashioned letter to introduce them to the idea. Find out the best person to send such communication to, and try to set up a meeting. And prepare for a quick sale. Make sure the bill of sale, the title, and all other documentation are in order so you can quickly seal the deal.