Thinking of selling your car? You have two options: you can either sell it through a dealer who will make the transaction on your behalf or sell it personally. If you have the time and know-how, it is definitely wiser to opt for the second option.
The Benefits of "Car for Sale by Owner" Strategy
Selling your car yourself has two very obvious benefits. First, you will be able to highlight the good features of your car to the prospective buyers. You can also answer all the prospective buyer's questions more adequately and accurately than any dealer ever can. Nobody knows your car like you do.
Second, you will be able to save yourself an incredible amount of money that would have been your dealer's commission. If, for example you sell a car for $15,000 through a dealer, the dealer will take at least three percent of the amount - that's at least $450. There are even dealers whose commission rates go up to six percent. Instead of the dealer earning money from selling your car, why not take it for yourself? With a little extra effort and know-how, you can sell your car successfully on your own and pocket some extra money.
Some Tips Before Selling
Assess your car's worth carefully before you determine its price. Take note of the mileage, external and internal damage, frequency of oil changes, and repair history.
Negotiating is the same as playing the game of poker; it is important that you do not show your emotions. The buyer can sense if you are desperate and may use it to try to buy your car for a very low price. Explain to the buyer how well you've taken care of your car, how good its condition still is, and how many years he or she can still use the car without problems. Be firm on your price, especially if you know that it is fair.
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