Selling your car is a painful experience because you want to sell your sole asset at the best possible price but the buyers in the market are motivated to negotiate. Buyers always give you reasons like they have a fixed budget, limited resources and they wish to buy a car more expensive than they can afford and then they try to negotiate to bring down the price.
Normally, buyers are more active to find the car and look for the best deals. But in some cases, sellers are also motivated to sell their car immediately so they can buy their new car. In such situations, the owners of the cars bear losses and sell their cars in much less than the market price. So, here we have discussed a few points on how you can gain the maximum value of your car without losing the buyer.
Check the market price
The first thing is before advertising your car for sale make sure you know the market price for your car. Do some research online or consult with others according to the condition of your car what should be the fair price for it. This will help you a lot because then you can build a margin to allow for negotiation. The buyer will definitely ask for some reduction in the asking price then you can reduce the price to its market value. This way the buyer will also be happy to close the deal and you will not face any loss.
As a seller, you have to make up your mind before meeting any buyer what is the least amount of cash you are ready to accept so that later you are not confused if you should accept the offer or not.
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Prepare your car
The condition of your car is the main impression. Your car cannot get its fair value if it is not presented well to the buyer. Spend some time on the car clean it up from inside and outside and have it polished or detailed. If there are any dents or damage marks try to get them removed as they reduce the value of the car.
Also very important to keep the maintenance records available so you can show to the buyer right away that you have well maintained the car and there have not been any major issues with it. If possible you can also provide them the proof that the car has not been in any serious accidents. With these points, you will gain the confidence of the buyer and impress him. He might not have many questions and might not ask you to reduce the price.
Don’t quote the final price first
It is a normal practice as a seller you have the final price in your mind which is less than the asking price. Similarly, the buyer also expects you to lower the price than the asking one and he has a budget in his mind. The smart buyer while negotiating will ask you the final price for giving away the car and when you will quote it he will ask for further reduction because this is the normal way of negotiation.
The best practice is to ask the buyer how much he is willing to pay and when he quotes it then you can compare it with the price you had in mind. Maybe it is the same price and you don’t have to negotiate further. If the price is lower than your expected price it is important you stay firm on your final price because he just made an offer there is still a possibility he might increase it.
Be an easygoing seller
It is extremely important how you behave with others while selling your car. Sometimes people are so impressed with your attitude that they get ready to pay you the asking price.
Be flexible and don’t get offended if someone makes a ridiculous offer, explain to them the reason why it is not justified. Be firm with your price but not unreasonable always ask the price according to the market price. Watch the buyer’s reaction during the negotiation if they get uncomfortable at your pressure then better not to negotiate further, try to accept the deal if it seems reasonable.
As a seller you have to realize the fact there are multiple used cars available in the market. The buyer has numerous options to choose from on the internet. If you find a serious buyer and ready to pay an acceptable price it is better to not let him go. He might find another better car and deal and not come back and you will lose time in finding the next buyer.
