Wednesday, May 18, 2011

How to initiate a used car sale?

You should not be surprised to see a good number of used cars for sale by owner as it becoming a trend or so in the car market. The most primary reason to sell a used car is the desire of buying a new and better car by owner of the old car. The money earned from the sale of used car is generally invested in financing new car. However, one should not be in such a hurry to buy a new car as to get into a distress sale, earning lesser amount on the sale of a car. As car market keeps on rolling so you need to be sure about that you are selling your car on a good market price. Thus you should make a start for selling your car from a basic research to assess the market price of the car and setting your price to sell the car.

•    What is an ideal price for your used car?:Deciding an apt price for a used car requires a lot of market research and evaluation on various factors like depreciation, etc. First of all, one should know who show interest in used cars for sale by owner; they are both salaried guys and businessmen. Salaried guys generally have limited resources whereas businessmen a fluctuating cash flow. Therefore they opt for either a smaller budget cars or bigger cars on a very reasonable rates and prices. Therefore, being a seller of big expensive car one would also have to shed out big amount to sale it out. More, the rates of old cars are also determined by the price of new cars in the market. Even, competition in new car market is even getting tougher day by day and driving car manufacturers and dealers offering discounts on the sale of new car. So the price of the used car should be determined keeping all these factors in the mind.

•    Places to sell a used car: Now you have estimation about the price on which you wish to sell out the used car owned by you.  In next process of used cars for sale by owner, the owner of the car should have an idea of places where he can advertise his used cars for sale.  The process can be started at a used car dealer as they provide spot payment for the sale of a car. However, car dealer deal is only good for those who want an immediate amount on a sale of their car. The dealer pays a much lower price for car than one’s expectation. Next you can sell the car at a new car dealer as they buyback your car within their exchange schemes. They invite buyers through advertisements and there on face to face deal you can fetch much smarter amount. Being not satisfied the methods as mentioned one can sale his used care by means of classified advertisements.

•    Preparations for the sale of used cars: In order to have a better deal on used cars for sale by owner the documentation process is also a must apart from other essentials for the sale of used car.   The paper of the car should be well organized so you could make it an easy and hassle free process. A buyer looks for the first car documents comprising, the registration book, the insurance policy, the taxation document. In order to avoid the last time hurry you should keep with you all the photo copies of all the important documents and papers. Keeping the detail in order of log for car and even bills of the replaced pars adds the value to your car makes upon a favorable impression on the buyer of your car.  Keeping the regular service details for your car implicates that you have cared enough for the maintenance of the car.

•    How to communicate customer for used cars? The next step is to await customer responses. Most likely, customers who are genuinely interested in buying will like to see your car personally. Prior to this, they may make inquiries by telephone or email. You should be in a position to answer these queries as candidly as possible. You can invite customers to your residence or your place of work to view the car. Mention time that you expect to see the prospective buyer. Also, see that both sides respect each other's time and remain punctual about this. Just in case you feel uncomfortable about calling the buyer home, then call him to a place that is extremely familiar to you and that there are people you know around you at that time. If your prospective driver wants to inspect the car, then that's fine. However, make sure that he does not drive away the car alone for a test ride. Always accompany the buyer with at least one friend. Also, check if the buyer has a valid driving license before you hand over the wheel to him or her. Move ahead with the bargaining process and try and reserve the car for the prospective buyer. In this case, make sure that you collect a deposit from the prospective buyer. Incase the deal doesn’t mature, you can refund the deposit. It's perfectly fine to bargain the price, but it's bad to show that you want to sell the car desperately. After the meeting is over, give a few days for the buyer to compose his or her mind and only then contact the prospective buyer if there is no response.


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