The key to selling your car is pricing it wisely; a common problem among private party sellers is overpricing. Avoid that mistake by doing some initial research:
• Determine your car's real value - remember, what you want for it may differ from what it is worth.
• To get a true idea of your car’s worth, provide an honest evaluation of its condition. A potential buyer will tend to be more critical.
• Search used-car listings for the pricing of similar models in your area.
• Research dealers’ pricing but don't expect to get the same amount. Dealer sales provide some benefits that private sales do not, such as return/exchange policies, limited warranties, financing etc.
• Factor in likely repair work. If your car is worth £10,000 but needs a new clutch, then don't expect to receive full value. Reduce the price in accordance with necessary repairs.
• When creating your ad, you'll have the option of typing what you want in the free text field. Use terms such as "Best Offer" or “Or Nearest Offer” with care; including ONO could result in more enquiries, but it may also result in lower initial offers.
• Be realistic. Is your used car still a popular and viable model, or are you driving a relic of an earlier age? Price it accordingly.
BuyYourCar Advice – Price your car to make the phone ring.
You may think that advertising your car at £10,750 is the sensible way forward if you really want to get £10,000 for it. Remember, someone else could be thinking the same - only they advertise their car at £10,250, because they also want £10,000. Who do you think will get all of the calls?
Make the phone ring – if you get 20 calls on your car, it is easier to hold out for the asking price. If you get only get 1 call, you only get one chance to sell it. You may need to reduce the price by a lot more than you originally bargained for.
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