Ready to invest into a brand-new car? Something bigger, better, and cooler? Is your current vehicle causing you more problems than joy? Regardless of your situation, if you wanna sell your old ride, you better squeeze all the juices out of it and get every last penny it’s worth. However, if you make even one of the following mistakes selling a used car, you risk losing a lot of money or even jeopardizing the sale entirely. So, what are the 5 most common mistakes you should avoid? Read on to find out!
Also check out this article about how to beat the sweetest deal out of a car salesman – it may also be useful.
And the post about Toyota certified used cars may be interesting too.
#1 – Skipping Cleaning, Washing The Car And All That Stuff
If your vehicle is full of food crops, wrappers, stains, hair and dust, a potential buyer would be pretty much disgusted and you will lose what could be a perfect deal.
Come on, let’s be honest – you wouldn’t ever buy a car with a filthy interior like that, would you?
So, the bottom line is, a clean, washed and brushed vehicle looks (and smells) SO MUCH BETTER, and that makes it more appealing to future owners. By keeping your ride clean you also show folks that you are a serious man and mean business.
Don’t be afraid of washing and cleaning – it’s not gonna take nearly as much time as you think. On the other hand, if you’re planning to sell your car for more than 5K, consider putting a lot of work into it. I’m talking about washing the interior windows (inside and out), cleaning the seats and the dashboard, as well as making all the controls, buttons and knobs shine again.
#2 – Rushing Straight To The Local Car Dealer
Probably the easiest way to sell a used car is to trade it in at the nearest dealer. I gotta say, though, that this way you won’t make much money. The difference between selling the car yourself and “giving” it to the dealer might be as much as 25% in hard cash. So, as a general rule, reserve going to the dealer as a last resort thing. Try selling your vehicle on your own, and then see what happens. If it turns out to be a difficult job, then you might consider paying the dealer a visit.
#3 – Naming The Wrong Price For The Car
It’s a very common mistake among amateur car sellers. They simply don’t know where to look for an average price, so, they just name the first thing that comes to their heads. A great source for checking out current prices is KBB (Kelley Blue Book). It’s done easily, just enter your zip-code, the name/set-up of your car, and there you go – a market value on your hands.
#4 – Leaving The Paperwork Behind
Before you even think about selling, get all of the necessary paperwork together, and get 2 copies of a bill sale (one for the potential buyer, and one for you). You can get these at your local DMV office – for free. Now, keeping a copy of the bill of sale for yourself is an important part of the “transaction”.
Here’s why: First of all, the “as-is, where-is” clause says loud and clear that you are not providing any kind of warranty or making any claims about the vehicle’s condition. Second, this will protect you from unwanted hassle in case the new owner gets into an accident before he/she transfers the title into their name.
#5 – Lame Ads And Scams While Selling A Used Car
If you’re in a hurry and wanna sell your car as soon as possible, you run the risk of doing a very poor job with the whole preparation-presentation stuff, mainly setting the price, uploading some photos, entering a description. Don’t ever do that – an approach like this won’t be of much help to you, and it could ruin a potential deal. Think about a catchy title of put out some appealing photos to get the buyers interested.
And finally – don’t let anybody scam you. If you notice anything suspicious, like illegal stuff, just stand up and leave. Trust me, you’ll thank me later.
Never give out any personal info to the buyer and demand the payment in cash. Furthermore, pay extra attention to the paperwork.
That’s about it – the 5 most popular mistakes amateurs make selling a used car. Well, after reading this article, you’re not a rookie anymore! You’ve got some stories to tell about a successful or bad trade? The floor is yours – share your experience in the comments!