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Using available resources to determine a ballpark value (or market value) for your vehicle is a good starting point. These can include the local classified ads, vehicle price guides, and used vehicle dealerships. Visiting a new car dealership to determine the trade in value of your vehicle can also be useful, but be aware; dealers will try to quote you the lowest figure possible to gain a better deal. So this may not always be a true depiction of what your vehicle is really worth.
Consider the condition of your vehicle when formulating a price. Factor in any upgrades, new parts, or servicing your vehicle has recently received. If your vehicle needs some minor work, such as a new paint job, and you plan to sell "as is", you may want to deduct these costs from your final price, as this cost will fall onto the new owner. Also, keep the mileage of your vehicle in mind. On average, vehicles put on 20,000 per year. If your mileage is lower than average, you can set your asking price higher.
Finally, price your vehicle slightly above the amount you are willing to settle for. This allows room for negotiation among potential buyers.
Prospective buyers will want to view your vehicle in person, and possibly take it for a test drive. Therefore, it is a good idea to get your vehicle ready for this event. The first two areas to take care of are the interior and exterior of the vehicle. Make sure the interior is clean, removing any materials from the trunk, console, and glovebox, and take your vehicle for a wash and wax. The second area to pay attention to is located under the hood of the vehicle. You may want to top up any car fluids such as oil, coolant, or wiper fluid to ensure a smooth test drive. Finally, consider what you are really selling to the buyer of your vehicle. If you are not including features, such as the stereo system, in the asking price of the vehicle, it is best to remove these items before hand. This way there will be no confusion between you and the buyer about what is included or not included in the sale.
The point of advertising is to attract attention and interest in your vehicle. Therefore it is important to emphasize the good points of the vehicle, such as low mileage and great fuel economy. However, it is also important to be honest about any major work that needs to be done if asked.
A major advantage of advertising your vehicle online is the ability to show off your vehicle through photos. It is important to post photos that show off the best features of the exterior and interior. Also, make sure your vehicle is the main focus in the photo. Too much background clutter can be distracting, taking away from the emphasis of your vehicle's better features.
Finally, include "attention grabbers" when advertising your vehicle. Such phrases as "Must Sell" or "Price Negotiable" will help your vehicle stand out from the hundreds of other vehicles advertised, giving you a better chance to gain interest among potential buyers.
Once you have advertised your vehicle, it is important you allot time to handle any inquiries potential buyers may have. Serious shoppers will most likely want to meet you in person, view the vehicle first hand, and possibly take it for a test drive. Good organization is key when responding to shoppers. Try not to double book or overlap appointments. This can be discouraging to serious shoppers.
If you are going to allow your vehicle to be test driven, it is a good idea to make sure your insurance is up to date. But most importantly, you should require to see a valid driver's license from the shopper before you allow him or her to get behind the wheel. If you do not plan to join the shopper for the test drive, be sure to record as much personal information as possible, such as name, address, phone number, driver's license number, just in case something happens to your vehicle in your absence. It is also a good idea to ask for some type of collateral to ensure your vehicle's safe return.
One last item to note when dealing with a potential buyer is their request for an independent inspection. If a shopper is serious about buying the vehicle, and would like to take it to a local service shop, it is the shopper's responsibility to pay for the inspection. Do not feel obligated, nor allow them to convince you this is your obligation.