Used cars have become much more popular thanks to the affordability and reliability of certified-preowned vehicles. According to the financial resource Dave Ramsey, a brand-new car loses somewhere between 9% and 11% of its value the moment it is driven off of the lot. That’s like throwing away $3,000 on a $30,000 vehicle in an instant.
The car research resource The Car Connection says there are more than 250 million used cars on the road in the U.S., and every year roughly 40 million people sell and buy used cars compared to the 14 million new vehicles. People who are considering selling a vehicle to capitalize on the used-car boom can follow these guidelines to sell quickly.
Prepare the vehicle
It’s hard not to judge a book by its cover. The same can be said for the way prospective buyers will view a car or truck, particularly if it is dirty. Cleaning the interior and exterior and removing any items from the trunk, cargo bed, glove compartment and any other storage areas will give a positive impression. The level of cleanliness will give buyers the impression that the vehicle has been well-maintained.
Price it correctly
Use trusted resources to appraise the value of the vehicle being sold. Kelley Blue Book is an industry standard for determining the value of a vehicle for sale. A vehicle that is priced at or slightly below other similar cars or trucks will sell more quickly.
Gather your documents
Put together a folder of receipts, maintenance schedules and any other paperwork that has been gathered through the years. Paperwork also should include the vehicle title and original sales paperwork. This will indicate to potential buyers that the car has been diligently maintained and that the previous owner was organized.
Make repairs
Depending on how much a person is willing to spend or concede in price negotiations, repair the vehicle accordingly. Types of repairs can include replacing burned out lights, fixing chips and cracks, replacing or repairing tires, repairing dings and scratches, and checking and replacing brakes.
Advertise in the right places
Major automobile listing sites are a good place to start, as are newspaper classifieds and local social media sales marketplaces. Include plenty of well-lit pictures of the interior and exterior, and include detailed information on the vehicle, including any special features. This will generate interest from serious buyers.
Taking certain steps to sell a used vehicle can make the process go quickly and smoothly.
