How to Get the Most Cash for Your Used Car

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Automobile

Attaining the best payout for your used vehicle is a process. First, you have to determine its overall value. Second, you have to do a little research. Third, you have to find the best place to sell it that will fit your individual needs. If you approach this process the right way you can gain 5 to even 20% more than your car’s current blue book value. Here are some important tips to help you navigate this system the right way.

How to Find Value

The value of a vehicle is determined by its age, its mileage, its make, its model, and its overall condition. Many vehicles have a notorious reputation as bad used cars, while many others are regarded as the best used cars to buy. The way to figure out what your car is worth is by using online verification services such as Edmunds or Kelley Blue Book. These sites take all these factors into consideration and generate a very accurate asking price.

Another way to verify your car’s overall value is to see what similar makes and models are currently selling for. This can give you an idea of a basic asking price, but can also pinpoint how additional features play into that price. Many cars are loaded with extra features and add-ons that boost overall value. Make sure you take factors into account as well.

Where to Sell

If you are planning to trade-you used car in for a newer one than a dealership may be the best option. Dealerships generally offer the lowest trade-in value for your vehicle. However, doing some homework before hand can grant you useful bargaining chips to inflate that value. One good thing to look at is what dealerships are currently selling your particular model for.

Selling your vehicle privately offers the best chance at optimal value. As you control the price and handle the negotiations you can personally ensure that you get exactly what you want.

Use Strategy

Strategy is a great way to increase car value. One excellent tip is to get your car to peak condition before listing it. Make sure you thoroughly clean out your vehicle, get up to date records on your car’s service history, and repair any minor problems that are present. You want your vehicle to be in top condition when buyers see it. The better it looks the more value they will attribute to it.

If you are using an online platform you want to flood it with as many pictures as possible. Photograph every aspect of your car so a buyer can see it. It looks fishy when an automobile is only presented form a few angles. It is almost a deal breaker if you neglect to photograph the interior. So leave nothing up to the imagination.

Another good piece of strategy is to advertise on social media as well as online marketplaces. Social media is great for connecting people and is populated by individuals that you know. By listing it on Facebook or Twitters you increase the chances of selling to a friend.

Finally, always set your asking price about 5 to 10% higher than you really want it. This way when you haggle you can drop the price down to what you really are asking for, but make the consumer feel like they are getting a deal.

Online Marketplaces

If you are an independent seller an online marketplace is the best avenue to list your car. Online sites are great at connecting buyers to sellers. They have a much broader reach than classified ads and provide much more information. Many of them charge of fee for service but some operate for free. Just search for where to sell my car and you be connected to relevant links.

Online marketplaces have their own evaluation software that follows the base metrics. Consumers can consult these metrics to get a very accurate idea of your car’s worth. The selling process is seamless and creates an ease of access that suits the current market. You do not want to put your eggs in one basket, so be sure to advertise elsewhere but do not ignore the power of the internet.

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