An Introduction to Calculating Used Car Prices For Both Buyers and Sellers

Valuate car cost

Now that you have plans to put up your car for sale, you must bear in mind that you have to draw in great buyers so you’ll get a reasonable price for your car. Try not to price your car too much because there are buyers who wouldn’t want to deal with it especially when your car doesn’t even look like the price that it projects.  Bear in mind that each car is priced different, and that you need to take various considerations when choosing a good price for your car. Assess your mileage by checking the odometer. Take note of your car’s engine type and size, its model or make, airbags, alarm systems, light, etc. Obtain a comprehensive history of your car through websites such as Auto Check or CARFAX.

Get Car Identification Number and Other Needed information

Gather your car’s identification number and other needed information so that you won’t get through any possible hassle. If you can’t find the VIN, it is located on the driver’s lower side corner, stuck to the windshield.  Try to get an unbiased assessment of your car and try to be as honest as possible when you make your assessment. Cars that are in excellent condition should have no reported issues, their maintenance should be updated all the time. Minor accidents are understandable, as long as those don’t affect the overall condition of the car.

Check out classified ads that are available in your local newspapers, and consult dealers who cater to private party transactions. They can help you come up with a reasonable price estimate for your car.

Negotiating a Used Car, Private Party Style

Most of the time, a good sale starts with exceptional negotiation skills. If you are the seller of the car, you should possess excellent negotiation skills and you should know how to take charge of just about any business glitches that might occur during the negotiation. When you purchase a car from a private party, you have some of the advantage that the seller may not have. And when you become aware of these advantages will definitely ensure that you’ll get the best value for your money.

Use CARFAX to Find History and Background of the Car

carfax reportFirst of all, read more about the vehicle that you are interested in purchasing. You can log on to CARFAX for a  start, this website provides you with maintenance history and background for just about any vehicle that is available and sold in the entire United States. If you aim for a fair and effective negotiation, then the report from CarFax is your best resort. Bear in mind that if you’re about to sell a used vehicle, even if it’s in good condition, it should still cost less than a brand new one. Cross-reference your CarFax report with car values from the Kelley Blue Book. It is a highly in-demand and reliable tool for appraising new and used vehicles. You can handpick the model or choose your vehicle by manufacturer, condition, added features, or mileage. These aspects all play a big role in getting you a fair, reasonable price. Do your homework, research, and write down questions that you need to ask later on so you won’t leave out anything during your deal.

Always Be Vigilant and Try to Take Advantage of the Situation.

A question as simple as getting to know the reason why a seller would want to sell his car says so many things about his motives to sell it. Observe if the seller looks eager to sell his vehicle, because the more he looks eager, your chances of getting a more affordable price for the car would be great as well. Try not to show too much interest when you assess the car for sale. When you make an offer, make sure that it is lower than what you can actually pay for, or lower than what you have researched in the online sites. As a buyer, you should also expect that your first offer will not always be accepted by the seller, but if you can lay out all the right cards on the table and let him know subtly that you are aware of all the things that take place in a good negotiation, then you’ll be in good hands. Chances are, you’ll get the offer that you want before closing the deal.

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