Selling your car privately can be more challenging than selling some of your other belongings, simply because of the huge potential range in price, depending on the age, make and model of the car, as well as the condition it’s in, mileage, and what kind of bells and whistles it has.
The price is right
Obviously you want to get as much as you can, but if you price it too high, no one will buy your vehicle. However, you don’t want to undercut your potential earnings here either.
It’s worth doing some research for what comparable car sellers are asking. You can also consult the Canadian Black Book or the Kelley Blue Book, which are commonly used resources by car salesman and banks to determine a car’s current value.
Maintenance equals money
Don’t forget that a car is a depreciating asset, which means that as soon as you roll off the lot or out of the driveway if it’s a private sale, the value will begin to diminish.
One way that you can extend that asset value is to consistently engage in maintenance. Get the oil changed on time; attend to small repairs; take the time to get tune ups. Not only will your car run more smoothly, you’ll be in a better position to ask for more money when you sell, because the car not only looks good, it works well too.
Make sure to keep your maintenance records to prove that your car is in tip-top shape.
Clean, clean, clean
If you were selling your house, you’d scrub every inch and attend to areas that have experienced a little wear and tear to entice buyers, right? The same goes for your car.
Vacuum floor mats and seats and shampoo them; clean out nooks and crannies with a toothbrush. Make it sparkle and smell fantastic. You can get new car smell with a used car, but you still provide the buyer with a pleasant olfactory experience.
If floor mats are worn and torn, you may want to replace them. It’s not very expensive, and it makes your car look very well cared for.