If you are trying to sell your used vehicle immediately, choosing the right price for it will lead you to sell it quickly. Setting the accurate price for a used car is almost an art €" a combination of research and intuition. If you put an inaccurate price then you will surely get the full value of your car quickly but on the other hand, if you set imprecise cost you'll surely wait weeks for a call or e-mail from a purchaser.
Your purpose is to list your car at a competitive price, but one that's on the high end of the price range. This allows you room to discuss and still wind up with a good chunk of change. So make your mind up where you want to close the deal and work backward from there.
Like for example, you want to put on the market your car for $5,000. When listing it out to different sites, make it at least $5,750. With more expensive cars, you need to leave more room, so to get $15,000, you should list the car at $16,500.
There are plethoras of ways and means for finding the best spot for pricing your used car. Here's a step-by-step guide to this essential methods.
1. Think about the market - it is important to consider the market when setting up the price for your car. Is your car in demand? Is it on latest model? Can you ask for top dollar? Is this the right time to sell it?
Take into account any other market conditions that might have an impact on your car. For example, if your car gets good fuel economy and gas prices are high, you will be able to ask more for it than when gas is cheap. Similarly, selling a supersize SUV for top dollar is going to be tough if gas prices are sky high.
2. Check Out Pricing Guides. Use True Market Value pricing to determine the fair value of your car. TMV prices are adjusted for mileage, color, options, condition and even region of the country. Keep in mind that TMV is a transaction price €" not an asking price. It's where you want to wind up after negotiations. And don't forget to take a look at other pricing guides for comparison sake.
3. Survey Your Car's Competitors. Review classified ads on such Web sites as Auto Trader, Craigslist and eBay Motors to see the asking prices for other cars like yours. Most sites offer advanced searches to find close matches to your vehicle. But keep in mind that these are asking prices, not selling prices, and might just be wishful thinking by the seller. Compare the cars' condition, mileage, geographic location and asking price to your vehicle to guide you in setting the right price.
Your purpose is to list your car at a competitive price, but one that's on the high end of the price range. This allows you room to discuss and still wind up with a good chunk of change. So make your mind up where you want to close the deal and work backward from there.
Like for example, you want to put on the market your car for $5,000. When listing it out to different sites, make it at least $5,750. With more expensive cars, you need to leave more room, so to get $15,000, you should list the car at $16,500.
There are plethoras of ways and means for finding the best spot for pricing your used car. Here's a step-by-step guide to this essential methods.
1. Think about the market - it is important to consider the market when setting up the price for your car. Is your car in demand? Is it on latest model? Can you ask for top dollar? Is this the right time to sell it?
Take into account any other market conditions that might have an impact on your car. For example, if your car gets good fuel economy and gas prices are high, you will be able to ask more for it than when gas is cheap. Similarly, selling a supersize SUV for top dollar is going to be tough if gas prices are sky high.
2. Check Out Pricing Guides. Use True Market Value pricing to determine the fair value of your car. TMV prices are adjusted for mileage, color, options, condition and even region of the country. Keep in mind that TMV is a transaction price €" not an asking price. It's where you want to wind up after negotiations. And don't forget to take a look at other pricing guides for comparison sake.
3. Survey Your Car's Competitors. Review classified ads on such Web sites as Auto Trader, Craigslist and eBay Motors to see the asking prices for other cars like yours. Most sites offer advanced searches to find close matches to your vehicle. But keep in mind that these are asking prices, not selling prices, and might just be wishful thinking by the seller. Compare the cars' condition, mileage, geographic location and asking price to your vehicle to guide you in setting the right price.