If you’re selling your car privately, the big question on your mind is probably “How much should I charge?”
The truth is, finding out a used cars value isn’t as hard as you may think. In fact, finding the right price for your vehicle is very simple.
You will want to find a price point that matches your cars condition and its popularity… without sacrificing your compensation.
So if you’re looking for a fast way to evaluate the price of your car, then you’re going to want to stick around.
We’re going to show you how you can find the value of your used car so that you can sell it quickly… and… at a reasonable price…
Finding Out a Used Cars Value
The value of a used car depends mostly on the condition of the car and what’s happened to it over its lifespan. You must take into account major factors such as:
- The age of the car
- The mileage
- The wear and tear, both inside and out
- The service and maintenance history
- Mechanical issues
- Car’s accessories and added features
- Recent updates made to the car
- How quickly you want to sell it
Here’s a few resources you can check out to see what other people are charging for the same make and model as your car:
- The Kelley Blue Book is a vehicle valuation guide that provides retail values for used vehicles. This guide will give you a price range that you can use to price your vehicle.
- CarFax is another great place to look as it will give you an idea of how certain cars are priced based on if they have been any accidents, if they’re certified and what their service history is. This will tell you how much you should price your car based on its condition and history.
- AutoTRADER.com has a “Value Finder” tool that shows you the maximum and minimum pricing that other people are using when listing a similar car.
You can also take a peek at the classified ads in your local newspaper… or even Craigslist to see what the average price for your make and model is.
Once you’ve decided on a price point, you should find out how low you are willing to go. Buyers expect that there’s going to be room for price negotiations. Have you left space for this in your price?
PRO TIP: Take whatever price you came up with in your head and double it. Psychologically the buyer will think he’s getting a great deal when you negotiate the price down to the offer you already had in mind.
… but you need to know what your lowest price is. You want to figure this number out ahead of time so a buyer doesn’t catch you off guard.
It’s always a good idea to back up your price with a CarFax report. The report will make the buyer more confident with their purchase… and… it will ensure that your vehicle has never been in an accident.
… and that it doesn’t have any outstanding liens on it.
Get a Pre-Purchase Inspection
If your car HAS experienced damage at some point, then the report combined with a pre-purchase inspection will give the buyer peace of mind that it was properly repaired.
If you’re looking to sell your vehicle privately. And if you want to get a pre-purchase inspection done, then our service department would be glad to give you a hand.
Our dealership is located in Framingham, Massachusetts. Book your appointment now by giving us a call at 877-651-7166.