Regardless of how you are selling your car, you want it to make a good first impression.
How your car looks, the advertisement and how you respond to buyers are all important factors in achieving a successful sale.
Start by finding the price range of vehicles of the same make and model in similar condition to yours. A local newspaper is a good source.
If the vehicle is advertised by a dealer you will need to subtract the dealers profit margin, which can be anything from $1000 up. This will give you a ball-park figure.
Our RACQ Price Guide can assist you with pricing.
Start with a slightly higher price than you’ll accept to allow for negotiation. If you find that you don’t get any calls it’s possible that the price is too high and you need to consider reducing it.
When writing the ad to sell your car, take into account where the ad will appear – newspaper or online.
Newspapers and other hardcopy publications usually charge by the word or number of lines, so it’s important to give a clear picture in as few words as possible.
If online, you can sometimes be more generous with the number of words as there is more room. However, keep in mind that people scan when they read online so too much can work against you. Avoid phrases like “First to see will buy” as they add nothing and increase the cost of printed ads.
Details to include in your ad:
Also consider using a photograph of your vehicle.
Before placing your ad, prepare yourself to answer questions about the car and know what you want to say about it.
Buyers may want to know about:
Be honest. It’s important to get them to come and look at the car but you’ll have no chance of selling it if it’s not what you described on the phone.
If possible try to get the prospective buyer’s name and phone number and the specific time they plan to come to inspect the car. Some people will say they are coming and don’t, but if you have their name and phone number you can reduce the inconvenience as much as possible.
It would be wise to request to see their license, just to be certain that they have one. They don’t have to show it to you, but you don’t have to let them drive your car either.
Consider how you are going to deal with this at sale time as a careful buyer won’t take your word that you’ll pay out the loan when you get their money.
Removing the vehicle from the register may rely on the proceeds of the sale and you need to have a strategy in place for dealing with this and addressing the buyer’s concerns. You may need to take legal advice about how best to proceed.
By this stage you should have a good idea of what your car is worth.
Be prepared to negotiate, but set a minimum price you will accept. Stick to it; don’t be bullied into giving your vehicle away.
Sometimes potential buyers will come up with a list of things wrong with the car either to justify why they don’t want to buy it or in an attempt to reduce the price. Listen to what they have to say, some of it may be valid, and there could be things you can fix to make the car a more attractive proposition to the next person if the sale falls through.
If the buyer has requested an inspection there may be things that come out of it that can be used as a bargaining tool, but be sure you cost any repairs before committing to have them done as part of the sale.
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.