Millions of used cars are sold in the UK each year. According to Statista, in 2018, the number reached 7.95 million. With that many cars for sale, you need to make sure that your car beats the competition. Asking for a fair price and fixing the flaws that can be fixed are the best way to do this. At times, this is easier said than done. But if you follow these tips, they will help you in getting the right price for your used car.
Setting the Price
There are two major approaches to this. You can set a high price, polish up your car and just wait until somebody who is willing to pay that price contacts you. Using this strategy, you are likely to get a good price. But you might wait for a long time, and you might even be forced to lower it because of the lack of buyers. Another way of setting the price is to check out the online ads for similar cars and offer a similar price. Add a £100 on the price you expect, so that you have the room to negotiate. If your price is fixed and you don’t want to negotiate, state that clearly.
Advertising your used car
To get a nice price, make a great ad. Clean your car thoroughly and post good and detailed photos. You can add a personal touch to the photos, but not too much. The more photos you publish, the better. They should feature the inside, as well as the outside of your car, from different angles. One website is not enough. To reach many buyers, use many websites and focus on the ones that are regional. The more people you reach, the better price you’ll get. If the website has a template for ads, fill it 100% and give as many details as possible. Those are the ads that people contact first.
Performing necessary facelift
The benefits of doing so are numerous. First, the majority of buyers tend to write-off potential purchases at the first sign of physical damage. Second, some repairs tend to add a lot of value to the vehicle. For instance, due to specific terrain drivers in Australia pick up a lot of rocks and debris when they are driving across the country. No surprise that professional windscreen repairs in Sydney are some of the most popular pre-sale upgrades in this part of the country. A similar thing can be said about body repairs, bumpers, etc. Moves like this create very healthy returns, regardless of the investment.
Adding extra value
We are not necessarily talking about the ways to enhance your car, but a couple of inexpensive goodies like, for instance, hubcaps or a fresh batch of motor oil can do no harm. We are thinking more about the convenience options like presenting complete maintenance history, brokering and performing necessary papyrology, driving the car to the buyer’s address after the inspection, etc. If you want to go the extra mile and know your vehicle, you can even offer a 6-months personal warranty. All of the previous mentions create a unique value proposition that will easily set you apart from competitors.
People value personal recommendations above anything else. So, while you are marketing your vehicle online, ask your friends and family to do you a favor and see if someone they know is interested in purchase. The people you find this way will be ready to pay a higher price for the vehicle since they got the recommendation from the reliable source. Also, selling the car through referrals will effectively eliminate various third parties that will try to sink their teeth into your profit margin. If you want to get a really good price, try cutting a deal with your mechanic. Buyers can’t hope to get a more trustworthy recommendation than that.
Talking to Customers
It is of essential importance that you keep your calm and be polite with potential buyers. This goes double if you advertise your car on websites that have reviews. Make sure that you reveal all the downsides of your car, but also emphasize the good sides, as well. Don’t leave out motor oil consumption. But also don’t forget to mention that your motor has been serviced and cleaned every 5,000 miles. You can increase the price by offering the first aid kits, spare tires, and similar accessories. You won’t be needing them once you sell your car.
Be realistic about the price you are asking. It is easy to estimate the real price of your car nowadays with all the websites about used cars. It is important to figure out your price range and be sure about it before you put your car on the market.