Motorists who are thinking about getting a new car and would like to sell their old car themselves instead of trading it in might be able to get a higher price from this. According to recently released figures from the AAA Auto Buying experts, 30 percent of used vehicles are sold by car owners directly, which proves many Americans have more confidence in their own selling abilities.
There are close to 33 million used vehicles sold annually, which includes people who trade in their car, sell it to a dealer, give it to a family member, sell it directly or donate it to a church. While selling a vehicle independently may seem like a difficult task to accomplish, auto experts advise that it's not as hard as some might think.
"Selling a vehicle yourself is not difficult, but it does take time and effort," said John Nielsen, AAA director of Automotive Engineering and Repair. "Pricing the vehicle properly and preparing it for sale are keys to quickly selling the vehicle for a reasonable amount."
AAA recommends that auto owners who are looking to sell their vehicles by themselves prepare for the sale by having the vehicle professionally detailed. Any personal items should be removed from the car before those interested in purchasing the vehicle come to view it. Any stickers that have been placed on the body of the car should also be removed.
The car should be thoroughly inspected at a repair shop before attempting to sell it. A detailed report should be obtained to share with prospective buyers.
The price of the vehicle should also be determined before potential buyers come to view the car. The value of the car given after an inspection should reflect the price that the owner quotes for all those interested in purchasing. Motorists can also look at comparable prices from a number of pricing sources for a potential buyer to view and take with them if they need more time to consider the price of the car.
Advertising the vehicle
Those interested in selling their car should also be sure to advertise as much as possible. Use social media and other mediums to make consumers aware of the car being sold. Facebook, Twitter, AutoTrader.com and eBay are great examples of electronic resources to get the word out about the car being sold. Photos should also be taken of the vehicle from a number of angles to make sure that prospective buyers see their possible investment from every perspective before making a serious offer.
The seller should be sure to use common sense and caution when it comes to showing their vehicle to other motorists who have expressed interest in purchasing the vehicle. They should meet in a public location and the owner shouldn't allow them to test drive the car by themselves. The owners should also be prepared to answer any questions that the potential buyer might ask, such as inquiries about the horsepower, last time the car received an oil change and other repair questions.
AAA also recommended creating a bill of sale once a person is found who wants to purchase the vehicle. The bill of sale should also be signed and notarized at a local bank or AAA office. Payment should be received before ownership is transferred over to the new owner of the vehicle.
Auto experts recommend that motorists have their car inspected regularly to improve the performance of the vehicle, in addition to avoiding a long list of repairs when ready to sell the vehicle.