Selling Used Car! How to Get Right Price

Posted by Radhika Sharma on December 29th, 2017

Used cars have some typical characteristics, which make the scenario of selling and buying second-hand cars entirely different as used cars are accessible across the varied spectrum including age, condition, mileage, and technology, etc. Previous to starting the process to sell used car, you have to know the factors, which impact the price of a second-hand car and price the vehicle for sale accordingly.

The price of a used car depends on five key factors and they are:

• Age of the vehicle
• Condition of the vehicle
• Mileage, which the kilometers being driven by your car
• Accident History if any
• Demand & supply of your car model in the local market

Age of the vehicle:

Age of your car is referred to be the most important factor determining the price of a second-hand car. The price of your old car will definitely drop with age though it is not driven a considerable amount of miles. This is because, with age, your vehicle will become less desirable for the prospective buyers.

In case you own a three-year-old car, which driven even a single kilometer, don’t expect to obtain a price of a one-year-old car. It is a well-known fact that the vehicle will certainly earn a better value for its mileage and condition. If the car is found to be non-accidents, you can ideally sell your car faster. Then, kilometers were driven, the condition of the vehicle and the accident history will determine whether your vehicle gets a high price or else the lower.

Demand & Supply:

If your vehicle is in high supply related to demand or in low demand in your local market, you will get the relatively lower price when you Sell Car. On the other hands, vehicles with low maintenance cost, good brand image, and good fuel economy will enjoy good demand in addition to good resale value. Let us see the steps involved in receiving the right price for your vehicle:

Steps for Getting the Right Price:

• Evaluate and rate your vehicle’s condition like excellent, fair, good or poor
• Research on your vehicle demand such as Hot selling, medium or slow moving
• Research online regarding the price of your vehicle and call upon couple of second-hand car dealers
• Price will be competitive. Your car will be expected to compare with hundreds of other second-hand cars available in the market including vehicles for sale by new car dealers, individuals and used car dealers.
• Enable potential buyers to know that you are selling your vehicle. But be sure to highlight the positives including kilometers driven and service history on the internet sites especially on free classifieds, your residential area, friends, relatives, and office.

You have to know that your vehicle is the best. You can able to price it right and close the sale as fast as possible if you have performed your homework. Payment is considered to be the next important step as soon as you’ve finalized the sale. Payments may be tricky as buyers tend to take advantage of your softer side. Therefore, you are often aware of payment pitfalls, which you are likely to encounter during the actual transaction. I act wisely and sell my car by overcoming those problems.