Employee discount pricing by the Big Three automakers and deeper dealer discounts for new vehicles have led to a glut of used cars on the market, creating one of the best buyer’s markets for used vehicle shoppers in recent years.
To help consumers recoup top dollar for their used vehicle as they make way for new cars in their driveways, LiveDeal.com (livedeal.com), the nation’s leading local online classifieds site, today shared its top 10 tips for getting maximum value when selling a used car.
LiveDeal.com also noted it has added new cars to its fast-growing inventory, which now numbers more than 150,000 new and used cars – up from fewer than 10,000 this time last year. This milestone makes LiveDeal.com the Internet’s fastest-growing resource for both new and used vehicles.
“Dealers have a surplus of used vehicles on their lots this fall,” said Devon Cohen, vice president of automotive services for LiveDeal.com. “This surplus, added with the reduced margins dealers are earning on family pricing, leaves less room to offer aggressive trade-in prices. Consumers can get significantly better return by selling their used vehicles themselves this fall through free local online classifieds like LiveDeal.com, which make the selling process quick, effortless and affordable.”
Here are a few simple tips that can assist consumers get top dollar for their investment as they list their vehicle for sale.
- Know the Hot Trends and Models. Do some research on the Internet to know the hot trends and models since you may be able to get a higher price for these sought-after cars. With today’s high gas prices, smaller, fuel-efficient and hybrid cars are all the rage. Live in a warm weather climate where convertibles are practical all year round? Selling a vintage Mustang? These and other vehicles can fetch top dollar in the current market.
- Be Ready to Answer the Tough Questions. Put yourself in the shoes of a potential buyer and think: What makes this car a must-look-at? What condition is it in? How do I know this is a good price?
- Maximize Your car’s Exposure. Eighty percent of Internet shoppers only look at the first page of a search. It is better to be listed on the first page of a more local site than the fifth page of a larger site. And look for sites that lets a buyer to sort between dealers and private sellers – some people prefer to buy from individuals rather than from a dealer, or vice versa.
- Show Off Your Vehicle’s Best Features. Features such as power windows/doors, a sunroof, high-end stereo systems, convertible tops and high mileage-per-gallon are very attractive to potential buyers.
- Tout that Low or Highway-Only Mileage. Buyers love a vehicle with low mileage, or one that’s been spared the wear and tear of stop-and-start city driving.
- Pictures on the Internet are a Must. The more pictures available, the better. People love to browse photos of the vehicle to see if they like the color and condition. This gives the buyer external validation that you are trustworthy.
- Clean It Up. Detailing your car (inside and out) to give it that “new car” look prior to selling is about a $100 investment that will pay back several times.
- Price It Right. It’s easy to do your homework upfront and check the wholesale (what a dealer would pay you) and retail book values to know how to price your car. Selling through classifieds tends to be more at the retail value.
- Have Your Paperwork Handy. Be sure you’ve got your car’s title, registration and maintenance records on hand for buyers to inspect.