While a private-party sale most often provides a higher return, it takes more effort than simply listing an ad online. If you want to get top dollar for your ride, be proactive in every part of the process. Here are a few tips:
Know the Value
Before you even consider pricing your vehicle, research the value of used cars on Kelley Blue Book (KBB), the industry standard in pricing. Even car lots use the values determined by KBB to set retail prices and make offers on trade-ins. Once you determine the condition of your vehicle based on KBB’s guidelines, set your price right around the private-party value for that condition. That way when potential buyers do their own research, your prices will be in line.
Get Major Issues Fixed
While a clean, detailed vehicle with upgrades can woo prospective buyers, those things won’t hide real issues. Instead of spending money where it isn’t needed, use it to complete high-priority repairs. If you have visible cracks in the windshield, get them professionally filled or have the window replaced. If your vehicle’s paint is chipped, get the body touched up. If the car needs mechanical work, get it running optimally. Fixing notable issues in the car’s appearance or operation can take the vehicle from ‘good’ to ‘very good’ condition, which automatically adds a few hundred dollars to the value.
Show it Off
Photos are a crucial part of the process to attract prospective buyers. Make sure your photos show off your car’s best side. Photography site Digital Photo Secrets provides a few photography tips to help sell your car. These include:
- Take photos at sunrise or sunset when the lighting is best
- Take photos so the car fills the entire frame without much visible background
- Take photos in front of an uncluttered background
- Take photos of problem areas on the car, so potential buyers know up front exactly what any damage looks like
Be Ready for Test Drives
Equally as important as the photos, the test drive can make or break a deal—letting strangers test drive your car does carry risk, though. Make sure you’re liability insurance covers other drivers, and make sure you have each drivers’ contact information before they drive your car.
If you plan to let potential buyers test drive the car alone, write down the person’s full name and driver’s license number as additional precautions to ensure you can find the driver (and the car) if the driver fails to return.
Selling a car online can be financially rewarding when compared to trading the car into a dealership, but getting the best price takes some effort. By keeping a vehicle in optimal condition, making repairs as needed, and letting potential buyers get a real look and feel for the car, you stand your best chance at getting top dollar.