Car owners who are planning to sell their vehicles usually ask this question: what’s my car worth? There are a number of factors that determine a car’s selling price, thus it is good to get to know these aspects so you know how much you set your price marks without being shortchanged in the end.

Where will you sell your car?

There are many places in which you can sell your car, and among them include dealerships, private individuals, websites or as trade-ins. Each selling arena dictates a different selling price for your vehicle based on their standards.

You can place a higher markup price on your car if you are going to sell them to private individuals; however, it is important to know the floor and ceiling prices for your car based on similar advertisements offered by dealers, so that even if private buyers haggle for bargain rates, you won’t be ripped off the vehicle you’ve sold.

Cars may also be sold at auctions. However, auctions tend to purchase cars at their lowest prices and in turn open them for bidding. It can be a good decision to sell the car in an auction if it is really old or no longer for consumer use. But if the car is still in good condition, it is not recommended to have it sold to auctioneers or similar places as you will only be shortchanged.

Car History

Your car’s history also holds a big chunk on its selling price. There are older vehicles which tend to possess a good selling price due to being well maintained, while newer cars that have undergone numerous trips to the repair shop will definitely cost cheaper. The number of miles incurred by the car also holds value, so as prospective buyers will be informed if they have to be the one to change oil or not.

Car history also involves the papers that support the car’s registration papers. Motor registration and certification of the vehicle should be up to date, and in accordance to current land transport requisites. Motor tax declarations should as well be updated, so that you will be able to receive tax refunds for the remaining months of the vehicle’s calendar year.

Having complete papers is essential for car sellers, as this will keep their vehicle legitimate and free of legal problems.

New Car vs. Pre-Owned Car

You can also make a calculation of how much your car is worth by comparing prices with that of brand new units. Of course, brand new cars are more expensive, thus you will have to deduct items such as depreciation cost, repair and maintenance, insurance and other related factors in order to determine your vehicle’s actual selling price.

When selling your car, it is important to place advertisements in a rather strategic manner so that they can attract the right audiences. You must also contact the right people who can help in spreading the word about the vehicle you are currently selling, so that you can find customers who are truly interested in buying your car.

Selling a Car Online

Selling a car online may be different than selling it in person. While a lot of buyers still find it a preference to purchase vehicles in person, there are markets that choose to buy cars online due to their conveniences. Agents are also becoming more inclined to make dealerships online as they get to find more clients and spend less on going out to showcase their vehicles on sale.

Of course, like online business, it is not easy to sell a car on the internet. Aspiring car sellers as well as car owners who want to sell their car online may find it a bit difficult to find prospective buyers. For one, some of them are just browsing around and are not serious about purchasing a vehicle; and two, most buyers cling to the “to see is to believe” perspective. They will not purchase the car unless they were able to test the vehicle by themselves.

However, there are techniques that may boost your car selling abilities faster than expected. It’s not just about the right form of advertising. Below are some of the start-up methods on how to sell a car effectively online:

• Create a well-designed concept for the advertisement. Posting an ad for the car is easy, as there are sites that serve as all-around online stores. When posting your ad however, it is important that you already have a well-planned template so that prospective buyers would see the right information they need to consider buying your vehicle. Know where to set bigger font sizes or bold features, which information to place on the headlines, etc.
• Place all the necessary pictures. Since buyers are not able to see the car in person, it is best to give them the best views of the vehicle inside and out. Post pictures of the car in different angles, so that they will have an idea on how exactly does the car look like.
• State the car’s current condition. Does the car have dents or major damages? Does it have insurance? How many owners have gone through it? How old is the car? These questions should be properly yet briefly answered on your advertisement.
• Find a geographic client base. Most of all, set your geographic standards. It is important that you have a specific geographic client base as they can easily check out your car in case they want to see it in person. Geographic boundaries may cover a city and its neighboring towns.

When you want to sell my car, it is important to be honest when it comes to the general details, but keep the more delicate information classified and available only to prospective clients. This is because there are people who pose as prospective buyers but tend to be identity thieves or corporate spies, and they do not bring any good to your business.

It is also a good thing to check on the prices of other cars that are also on sale, particularly those that are of the same model as your vehicle. This way you can set a competitive price for your car based on the criteria made available by existing advertisements. You also know the ceiling price for your car, and up to how much clients can bargain for it.