How to Price Used Cars
Know the market., Gather information about your car., Keep in mind the present condition of your car., Make price and model comparisons., Determine your price., Price your car competitively.
Step-by-Step Guide
-
Step 1: Know the market.
can your car sell-off easily? Is it in demand? Will you have to drop your price in case there isn’t much demand? Is it the right time to sell your car? -
Step 2: Gather information about your car.
The next step is to know your car well.
Collect all the information about your car that determines its value.
Make a note of the year, make, and model using your original paperwork or window sticker.
Next, see if your car has additional features like leather seating, built-in music system, rear seat entertainment system etc.
These features can add to your car’s resale value.
Therefore, do not forget to make a note of all these as well. , Note the current mileage of your car.
Check for the manual and find out if your car is still under warranty.
It could fetch you more resale value.
If you’ve spent on the maintenance and repairs of your car, make a note of the total expenditure by far.
It might help you get a better resale price. , Once you’ve gathered all the information, you will now have to research on the resale prices of similar cars.
This information can be obtained using various pricing sites online.
The prices may vary depending on the usage and present condition of the car.
After this, you will have to make a note of the average pricing range for similar cars. , Now that you've got the price range for similar cars, the next step is to determine a fair market value for your car.
Choose a number within the pricing range that you’ve obtained with your research.
To quote higher or lower is a personal choice.
If your car has additional features like stereo system or alloy wheels, you can quote higher.
A car under warranty can fetch you more. , As mentioned earlier, leave room for negotiations.
Call for a little more than you expect.
In case you get what you ask for, that would be great.
If at all the buyer negotiates a little, it won’t be much of a loss.
You might want to drop the price if you want a quick sale. -
Step 3: Keep in mind the present condition of your car.
-
Step 4: Make price and model comparisons.
-
Step 5: Determine your price.
-
Step 6: Price your car competitively.
Detailed Guide
can your car sell-off easily? Is it in demand? Will you have to drop your price in case there isn’t much demand? Is it the right time to sell your car?
The next step is to know your car well.
Collect all the information about your car that determines its value.
Make a note of the year, make, and model using your original paperwork or window sticker.
Next, see if your car has additional features like leather seating, built-in music system, rear seat entertainment system etc.
These features can add to your car’s resale value.
Therefore, do not forget to make a note of all these as well. , Note the current mileage of your car.
Check for the manual and find out if your car is still under warranty.
It could fetch you more resale value.
If you’ve spent on the maintenance and repairs of your car, make a note of the total expenditure by far.
It might help you get a better resale price. , Once you’ve gathered all the information, you will now have to research on the resale prices of similar cars.
This information can be obtained using various pricing sites online.
The prices may vary depending on the usage and present condition of the car.
After this, you will have to make a note of the average pricing range for similar cars. , Now that you've got the price range for similar cars, the next step is to determine a fair market value for your car.
Choose a number within the pricing range that you’ve obtained with your research.
To quote higher or lower is a personal choice.
If your car has additional features like stereo system or alloy wheels, you can quote higher.
A car under warranty can fetch you more. , As mentioned earlier, leave room for negotiations.
Call for a little more than you expect.
In case you get what you ask for, that would be great.
If at all the buyer negotiates a little, it won’t be much of a loss.
You might want to drop the price if you want a quick sale.
About the Author
Olivia Allen
A passionate writer with expertise in hobbies topics. Loves sharing practical knowledge.
Rate This Guide
How helpful was this guide? Click to rate: