The car market is always changing. There are many ways to search for used cars, so you should at least expect many people to evaluate your price when they check your car out. If you aim low, your car will sell quickly, but you won’t receive much money. Aim too high, and you might not find a buyer until the price is lowered.
There is an art to selling a used car in a city, but you will need to be able to find the right price so that you get the right amount of money for it and it will still sell in a reasonable timeframe. How do you determine the right value on your car? There are many ways to do this, from browsing the web to crafting a sound strategy.
Check Out Market Guides
Websites like Drive.com and CarsGuide can help you determine what value your car is. These sites have databases for every make and model and set prices for factors such as condition, mileage, upgrades, and colours. However, it’s important to realise that the price you get from these sites is a transaction price, opposed to an asking price. To ensure to get the payout you’re looking for, it doesn’t hurt to start a little higher than the market guide suggests. You should also consider browsing your car for multiple market guides to compare prices and why there may be differences.
See Competitor Listings
There are many sites such as A2U where one can also buy a used car. You would like to look for cars that are the same make and models as yours, and if you can’t find any, look for something very similar. This is a good way to see what these cars are going for, and can give you an idea of what is a reasonable asking price. Contrary to market guides where you get a transaction price, these listings will give you an asking price, so they are amounts that the buyer hopes to receive in exchange for their car.
Price A Car Strategically
Regardless of whether you visit market guides, competitor listings, or even both, this allows you to choose a price in the range of what you want in addition to what might work for a potential buyer, assuming that the buyer will also do research on the value of a given car. You can price your car slightly lower so that you don’t take a big loss, and you still have room to negotiate. For example, you can price your car 100 dollars less than what the guides suggest or what other car is listed for. This is an evergreen strategy used by dealers to encourage more sales, but you can set a unique price so long as it doesn’t end with three or four “zeroes”; otherwise, this can give buyers feelings of high expenses.
Trust Your Instincts
If you are selling a car you know other people are going to want, you can also explore your options and determine the most amount of money a buyer would be willing to pay. In a risky, yet rewarding move, you can opt to set a price low at first, and after receiving several inquiries, you can raise the price when you start to see more demand for the car, sort of like an auction.
There are many ways you can find out how much a used car should go for on the market. Thankfully, you can get an idea of what price to start with through resources and strategies.