Car Selling Tips | Determine Asking Price

So you want to sell your car?

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Determine Your Asking Price

Doing a little homework is your first step in deciding your asking price. Spending a Sunday afternoon scouring the classifieds for comparable vehicles or clicking onto used car Web sites over several evenings are valuable tools to determine the going rate for your make and model of car. You can also use a free service such as PriceDart to save time and money. Once you have a range of prices for your particular model and year of car, you'll need to factor in a few other considerations:

  • Mileage
  • Condition
  • Special features

Other factors that determine the selling price of a vehicle that some people do not consider are: location of the car (weather plays a big factor on the look and longevity of a vehicle); who has driven the car (young drivers are known to put hard miles on their cars); and gas mileage (more and more drivers are sensitive to this issue for both economic and environmental concerns).

If you have made major cosmetic or mechanical improvements to the car recently, be sure to boost your price accordingly. A new set of high quality tires, a rebuilt engine, a replaced transmission still under warranty, or a top-of-the-line paint job will add to the value of the car and you should be compensated for those upgrades that make your vehicle more reliable and desirable. Locate the paperwork regarding any major work and create a file of receipts (with dates) to show any potential buyers.

Once you have decided on what you plan to charge, remember to boost your figure by a few hundred dollars. That cushion will provide a bit of negotiating room between you and potential buyers.