If you are selling your car, sooner or later you will need to decide on its price. This is an important decision; after all, too high a price will reduce the number of potential buyers, and if you make it too low, you simply won’t earn as much as the car is worth. How to decide on the price, then? Here are professional tips to help you make the price attractive both for you and the buyer.
What determines the value of a second-hand car?
In order to decide on the price of a car, you need to know what it depends on. The factors determining the price include make and model, date of manufacturing, mileage, technical condition, engine version, accessories, accident history, ownership history, repairs made, country of origin, colour, and such features as fuel consumption. Some of them, such as age or mileage, are more objective: who wouldn’t like a newer car with less kilometres driven? Still, some of the remaining factors simply depend on the buyer’s taste or preferences (think of colour or engine version). Our lifestyles differ and so do car preferences; some people are crazy about driving economy while others are obsessed with performance. Women will generally pay more attention to colour than men. Why do you need to know all this? Because your car will not suit every taste. Your offer needs to be tailored to the potential buyer; otherwise you won’t get the best price for it.
Online car price calculators
Such websites as Info-Ekspert allow you to obtain pricing online; the service costs next to nothing and you can pay by SMS. All you need to do is fill in a detailed form with such fields as technical data, registration data and accessories. Similar service is available via EurotaxGlass, an international system monitoring sales and purchases of second-hand cars. You can purchase it via autoDNA.com; all you need is the VIN of the vehicle you’re interested in. Remember, EurotaxGlass and Info-Ekspert software is also used by car insurers, so it is always a good idea to check what the car is worth.
Pricing services are helpful but nothing can guarantee an adequate price unless there is a human being involved. Statistics and market reality are two different fields. This is why before you publish your offer, you need to monitor the market to learn what prices vehicles similar to yours are sold at. On the one hand, if it turns out there is no car similar to yours within the distance of a couple hundred kilometres, you can quite safely increase the price. On the other hand, if it is a popular model, you probably won’t sell it expensive.
Visit at a dealer’s
If you prefer human interaction to online solutions, speak to a second-hand car dealer. Negotiations are a good occasion to learn what a specialist has to say about your car. The price they can propose will be the smallest you can agree for. Remember: if they can add a margin, so can you. All this knowledge will come in handy while speaking to a potential buyer. After all, the dealer has told you the lowest price possible; knowing this, you will find it easier to set a limit for negotiations when you’re selling the car yourself.
The price resulting from market research and a professional analysis can still be corrected depending on additional factors. Very good condition of the car (both its interior and exterior) means you can definitely earn a bit more on it. If, however, the car is damaged or simply shows signs of inadequate care, you may be forced to reduce the initial price. The same goes for easily detectable faults that are expensive to remove: you can be sure the customer will demand a discount. In order to compensate, you can add winter tyres, a navigation device or some other attractive accessories. Read more about selling your car expensive here.
Let us remind you of one more thing: when it comes to buying and selling, time is your friend. If you are desperate to sell the car fast, no matter how carefully you’ve calculated the price, you will lower it anyway. You can probably afford being more careful, so give yourself some time.