Buying a used car can be an exciting process indeed. However, you have to find out the real value of the used car you are thinking of selling. You should never be short on information in this regard. Otherwise, you will never get a good deal for your used car. This information is absolutely vital to successfully selling your used car. How do you actually find the real value of your used car? Read on to find more tips on selling your used car at the right value.
Finding the real value of your used car
You should always find the real value of your car before going into any negotiation relating to the prices. There are three major values of any used car which should be determined in most cases:
- The retail price of the used car which is the price point used by the dealer for selling to the customer
- The trade-off price which is the lowest possible price and is usually paid by dealers to acquire your car
- Private party price is the price on which you will have to negotiate with another buyer
You should calculate the retail price before anything else. This will help you avoid the pitfalls of selling your car to a dealer at a throw-away price. For determining the real value of your car, you should first be absolutely sure of the condition your car is in. Pricing your used car can be a double edged sword. You might set a very low price to draw more buyers but you will always fall short of money to pay for the new car you are thinking of purchasing. Alongside, if you set a huge sticker price, you can be stuck with both new and used cars at the same time which is a huge drain on your finances.
Do not get into a competition with classifieds in newspapers over prices. The condition of those cars will always be unknown. You are better off with checking a fair price for your used car on specialized car price websites which will give you the lowdown on what to expect as far as the trade-off price and private party price is concerned. The value of your car automatically increases if the records of maintenance are in good shape and the car is in good shape. A good quality car engine and minimal damages to the body is great. Have your car pass local inspections to get even higher value.
If your secondhand car is a pre-owned vehicle that has been certified, you should ideally discover a much higher value for your car. The value goes up automatically by 5-10% of the market value in this regard. You can use online car classifieds to sell your used car. This will get you loads of genuine buyers. Use online classifieds portals to sell your car at the best possible prices. The real value of your car may be hard to gauge but you can get as close to it as possible with the above tips.